Aleph Zero, a Proof-of-Stake (PoS) layer 1 blockchain that aims to improve privacy, has just unveiled its new offering “AZERO.ID”, considered to be the first-ever domain service offering private domain-to-domain asset transfers.
Blockchain companies continue to ramp up on-chain services to keep pace with this burgeoning technology. This evolving technology has many more potential use cases beyond other than just serving as the fuel behind cryptocurrencies.
Several industries, including the banking industry, real estate, gaming, fintech, and supply chain, among many others are being disrupted by blockchain technology enabling quicker and more secure transactions.
Among thousands of companies in the space, one company has grown leaps and bounds over the recent past – Aleph Zero. It is a PoS public blockchain launched in 2018 that seeks to increase anonymity. Aleph Zero has achieved numerous feats in the past couple of months along with several partnerships with high-profile decentralized finance (DeFi) firms.
What Is AZERO.ID?
Recently, the blockchain-based platform announced a partnership with Ledger, the firm behind different hardware wallets like Nano S and Nano X, in an effort to increase the accessibility and security of its native token, AZERO, coin management for users. In the latest development, Aleph Zero unveiled AZERO.ID, the first name & identity solution domain.
🟡 AZERO Domains is now https://t.co/rbZW2xeVLt! 🟡
After months of hard work, we unveil the first domain & identity solution for @Aleph__Zero.
Let's dive into what https://t.co/rbZW2xeVLt is about and how it shapes the future of domains on Aleph Zero and beyond!
— AZERO.ID (prev. AZERO Domains) (@AZERO_ID) May 17, 2023
According to the official blog post, on-chain domains by AZERO.ID will help to improve the UX of the entire Aleph Zero ecosystem. The new offering aims to prove better security against phishing and other crypto-related scams.
In addition, it will boost the user experience of on-chain domains since it’s the first time users can leverage their identity via a domain without revealing their wallet balances and on-chain activities. The company further noted,
“After building for months and shaping our vision, we are close to launching the first name & identity solution on the Aleph Zero mainnet. Today, we introduce AZERO.ID and share our vision for the future of domains and identity on Aleph Zero.”
On-Chain Domain Use Cases To Increase Multifold
As per the blog post, on-chain domains will be the super apps of the next cycle as they intend to replace usernames, bank accounts, and email addresses by linking the on-chain & off-chain identities of any user. They will ultimately become the core primitive of anyone’s digital identity.
Aleph Zero has already secured pre-seed round funding for its new initiative. The funding participants include prominent VCs such as Parity Technologies, Web3 Foundation, Block54, nxgen, Rana Capital, and WWVentures. The team revealed the new AZERO.ID platform testnet will be launched next month.
Say hello to AZERO's first fiat on-ramp: @c14_team! 🎆
C14 enables Aleph Zero users to interact with AZERO via https://t.co/Jc37rMUqD3, and empowers builders to integrate the widget into their websites and apps.
Here are the details. 👇 pic.twitter.com/BEMuockxdZ
— Aleph Zero (@Aleph__Zero) March 15, 2023
This comes shortly after the privacy-enhancing blockchain partnered with C14, a fiat on-ramp provider, to launch its first fiat on-ramp compliance platform enabling users to interact with AZERO, the native coin of the Aleph Zero blockchain, and to buy the digital token directly to the user’s wallet.
Aleph Zero has been making tremendous leaps over the past few months with the platform opening its Mainnet to community validators as well as any individuals who fulfill the hardware requirements and possess the required number of AZERO coins to begin validating and securing the network.
