DID Network

DID Network

Inspiration

With the development of Web 3.0, many applications beyond DeFi have emerged, such as social network and information flow. Simple wallet login is not enough to support a wide range of application scenarios.

We hope to build an open data platform around the user's wallet identity and tap into the value of the on-chain data to serve the increasingly rich Web 3.0 scenarios in the future.

What it does

DID Network is an open platform based on on-chain data. Users can bind their wallets and generate their own passports. The nodes of DID Network will parse the on-chain data and get the aggregation results, such as DeFi scores, user behavior analysis, and so on.

We have three core products:

DID Passport： We provide each user with a unified decentralized identity. This identity is tied to wallets and contains the analysis results of all on-chain behavior. All data is owned by the users and users can decide which data is open to the public. The DID Passport is the profile of the decentralized identity. Users can connect their wallets on different chains and get a profile with on-chain behavior analysis.
DID Engine： The transactions on the blockchain represent the user's interaction. By analyzing the transactions, we can generate a complete user profile around the user's identity. The DID engine is a multi-chain engine that can produce valuable information by extracting and analyzing the on-chain data. To prove that the data itself is trustworthy and correct, we adopt the solution of Off-chain Computing and On-chain Validation.
DID Network： The DID Network will build an open platform based on DIDs. We will develop some first-party apps to explore Web 3.0 scenarios, and we will also provide open SDK and API for 3rd party apps to build an open identity ecosystem together. Third-party applications can stake DID tokens to access user data. Users can choose to disclose or hide their on-chain information, including raw transactions, asset statistics, behavioral analysis, on-chain scores, etc.

Ecological contribution

With Neo Network, users on Neo could mint the passport to get the exclusive analytics profile. It will be much more convenient to build Web 3.0 apps on Neo, like a social network, as we are providing users information about users' wallets. We will also provide on-chain credential systems and on-chain scores based on users' on-chain behaviors. These could be great tools to help motivate the communities.

Market potential

With the development of Web 3.0, many applications beyond DeFi have emerged, such as social network and information flow. Simple wallet login is not enough to support a wide range of application scenarios.
We hope to build an open platform around the user's wallet identity and tap into the value of the on-chain data to serve the increasingly rich Web 3.0 scenarios in the future.
The more Web 3.0 products there are in the future, the more scenarios we will be used.

Technology

DID Network is an open data platform. We store data via our off-chain computing and on-chain validation models, which are backed by zk-SNARK. It's something like layer2 tech, but much more suitable for large-scale structured data.

Team composition

Brian Zhang（Tech Lead）： Worked at Microsoft since 2019 and has extensive experience in big data processing and data visualization.Community contributor of Ethereum and Solana ecosystem.
Adam Shen（Co-founder）：Worked in venture capital for 4 years until 2019. Head of business development in top crypto exchange. Has built partnerships with over 100 projects.
Andrew（Co-founder）：4 years of experience in the blockchain industry, active in various blockchain communities. Former blockchain researcher at Funcblock.
Noah Wang（Marketing Manager）： Studied and worked in the UK and Singapore. Finished the user growth of the biggest FinTech company in Singapore from scratch.
Support staff：3 developers，1 community manager，1 designer

Target audience

First-Party Applications (By Us)

On-Chain Credential System： DID Network offers a lightweight solution for event organizers and community managers to build and distribute non-transferable NFT badges and reward their community members.
On-Chain Score for SHO： With the analysis through different dimensions, we provide various types of on-chain behavioral scores, such as DeFi Score and Farming Score.

Third Party Applications (By Partner)

Web 3.0 Application： To make credit loans, advertisements, and other on-chain data-related products available in DeFi, a large volume of authentic data is required. DID Network aims to be a pioneer in the challenging journey.
Part of Metaverse Identity： Future metaverses, however the definitions, will cover tremendous settings from finance, entertainment, social, and much more. DID Network will be the infrastructure for building Metaverse identity.

Generate users method

On-chain achievement system, cooperating with project parties to launch co-branded NFT.
Invite system, allowing users to invite friends and receive airdrops(Invite to earn).
Cooperation with application layer products, such as drop3, to provide data support

Revenue model

User value-added service fee： such as receiving airdrops and inviting more friends. Inviting friends is a way to increase the amount of airdrop, but in order to get more invitations, you need to pay a certain fee. And there will be scenarios such as IDO, although the DID itself is free, we will provide some fee-based services.
Third-party application access fee： need stake/pay to get access to read data, similar to Chainlink Oracle, we will provide both on-chain and off-chain data access.

Challenges we ran into

Storing data on-chain can be costly, and we want to handle ownership of data back to the users without affecting the users’ experience, so we designed the off-chain-computing and on-chain validating model based on zk-SNARK. This is a big technical challenge.

Accomplishments that we're proud of

We finish the three modules, architecture design and technical solution tradeoff, PoC of DID Network Profile, Poc of on-chain data analysis, and visualization. We also have got the NEAR Protocol, moledao, aelf, and Tron grants.

What we learned

It is difficult to fully exploit the value of the on-chain data with an isolated identity. We should try to build connections between projects and users, and between users and users, in order to exploit more value.