In an exciting innovation on the Tezos network, Distributed Name System (DNS) has launched a system on Tezos that will enable users to create their own decentralised on-chain identity for web 3.0.
User-made on-chain identities will be functional as a URL in the format ‘username.dns.tez’.
While there is no KYC (Know-Your-Customer) requirements for the creation of the decentralised identities, users will have the option to attach details including biographies, geolocation information, names, NFTs, avatars, and profile pictures – in many ways representing a blockchain social media profile.
However, there is a need to be careful regarding anonymity with the new DNS system. With the digital identities being linked to a wallet address, transactions taking place using the linked-wallet will be traceable to the digital ID user.
The system relies on W3C standard protocols. Known as decentralised identities (DIDs), each user is assigned a DID and this can be used to log into linked wallets.
“Tezos is just plain superior to Ethereum,” said a team statement.
“We were surprised. It’s fast, it’s cheap, it’s green. It already does Proof of Stake. Stably. For a long time.
“It’s becoming the home to hackers and artists who want to try new things in crypto. Things that aren’t defi and gambling. It’s a place where tinkerers, creators and curious minded people can play. And it’s great! It’s where early adopters are. It’s where the energy from Bitcoin 2011 and Ethereum 2016 is.”
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