SPACE ID and ID Token ?

SPACE ID: A Revolutionary Step in the Web3 World

In the ever-evolving world of blockchain technology, SPACE ID (ID) Token is making waves as a universal name service network. This innovative platform aims to seamlessly connect people, information, assets, and applications across various blockchains. By providing a gateway between decentralized identities and the physical/digital world, SPACE ID is positioning itself as a leader in the Web3 space.

The .bnb Blockchain Domain:

The initial offering of SPACE ID is the .bnb Blockchain Domain. This feature allows anyone to register for .bnb domains, replacing traditional BNB Chain addresses. Users can own domain NFTs, which represent the ownership of the domain name. They can also set custom records to their .bnb domains, enhancing the user experience with thousands of dApps in the BNB Chain ecosystem.

The Innovative Structure of SPACE ID:

SPACE ID introduces an innovative structure for domain naming services, starting with a colon symbol, ":". Unlike the traditional "domain.tld/filepath" structure, the new layout ensures a domain name is registered only once across all SPACE ID supported blockchains. This innovation leads to unique identification of resources, regardless of their location.
For instance, ":luke" can be registered as Luke’s SID across all supported blockchains. Companies like Yuga Labs can acquire the TLD of "yuga:" for their community only, allowing users to register unique domains like "yuga:luke". This innovative structure provides a more user-friendly and efficient way to navigate the blockchain ecosystem.

More than Just a Name:

A SPACE ID is more than just a name; it's a multi-chain identity in the metaverse. As we delve deeper into the web3 world and the metaverse, numerous smart contract transactions are taking place across alternative L1 and L2 chains. SPACE ID allows for universal identification of resources, facilitating better interoperability and flexibility for dApps.
With SPACE ID, users can perform various tasks, such as trading cryptos, lending tokens, minting NFTs, and even buying homes in the future, using just one ID. Importantly, all data privacy related to the ID is owned by the ID owner, ensuring a secure and private user experience.

Enhancing Scalability and Availability:

SPACE ID is powered by Lucas, an ad hoc blockchain that bridges and stores data on different chains. To enhance security and availability, SPACE ID also includes Jedi and Yoda in its architecture.
Jedi is a smart contract running on various chains for name registration and resolution, accepting only names granted validity from Yoda. Yoda, on the other hand, is an Oracle network ensuring the uniqueness of names registered across multiple chains. Lastly, Lucas keeps the registration metadata, playing a crucial role in maintaining the system's integrity.
Space ID stands out in the crypto space due to its unique focus on Web3 domains and identities. It provides a comprehensive platform that allows users to discover, register, trade, and manage Web3 domains. Here's a breakdown of what makes Space ID, and its native token ID, different:

Discover: Space ID acts as a centralized hub where users can search for desired names across all supported Top-Level Domains (TLDs) and discover trending domain collections. It also provides auto-suggestions and quick domain registration status checks.

Register: The platform allows users to register for all Web3 domains on its mainnet, including .bnb, .arb, and .eth domains.

Trade: Space ID has a dedicated marketplace for trading Web3 domains. It aggregates liquidity from other marketplaces like OpenSea to provide a seamless trading experience.

Manage: Space ID provides a single integrated portal where users can manage the renewal, record, and ownership of all their Web3 domains.

Staking: Users can stake ID tokens to receive discounts on trading fees in the Space ID Domain NFT Marketplace and enjoy lower registration fees for Web3 domains on Space ID.

Payments: ID tokens are used as a means of payment within the Space ID ecosystem, as well as for Web3 Name SDK integration.

Governance: ID token holders can participate in and vote on Space ID DAO proposals, contributing to the platform's development and direction.

The total supply of ID tokens is 2 billion, with a circulating supply of over 286 million tokens. The token allocation is distributed among seed sale, strategic sale, Binance Launchpad, core team, advisors, marketing, foundation, community airdrop, and ecosystem.

Conclusion:
In conclusion, SPACE ID is revolutionizing the Web3 space by building a universal name service network. It provides a decentralized, censorship-resistant, and open-sourced platform that connects people, information, assets, and applications across blockchains. Through its innovative domain naming structure, enhanced scalability, and multi-chain identity provision, SPACE ID is paving the way for a more connected and efficient blockchain ecosystem.

Resources:
https://space.id/
https://docs.space.id/
https://blog.space.id/introducing-space-id-your-universal-identifier-576566315d37
https://twitter.com/SpaceIDProtocol