Altme Wallet now supports Etherlink, an EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollup technology.
1. Introducing Etherlink
Etherlink is a new Layer 2 blockchain that combines the strengths of Ethereum and Tezos. Built on Tezos’ innovative Smart Rollup technology, Etherlink offers:
- EVM Compatibility: Etherlink allows developers to deploy Ethereum-based smart contracts and applications. Popular Ethereum tools, wallets, and indexers work seamlessly with Etherlink, making it easy for both developers and users to transition.
- Tezos Security: Built on Tezos’ secure Layer 1 blockchain, Etherlink benefits from strong security measures. Smart Rollups, integrated directly into the Tezos protocol, add an extra layer of security and efficiency.
- Speed: Etherlink achieves extremely fast transaction times, with confirmations happening in less than 500 milliseconds. This speed is made possible by Etherlink’s efficient system and Tezos’ quick block finality.
- Fair Governance: Etherlink uses Tezos’ decentralized governance model, allowing stakeholders to propose and vote on changes to the platform. This ensures decisions are made fairly and transparently, reflecting community consensus.
- Minimal Costs: Transactions on Etherlink are incredibly cheap, costing less than $0.001 for an ERC-20 transfer. This low cost opens up new possibilities for micro-transactions and complex smart contracts that were previously too expensive.
- Permissionless Participation: Anyone can run an Etherlink node, contribute to network security, and take part in the consensus process. This open architecture ensures a truly decentralized and censorship-resistant environment.
- Interoperability: Etherlink makes it easy to transfer assets between Ethereum-compatible chains and the Tezos ecosystem, enhancing liquidity and expanding opportunities for cross-chain applications.
2. Connect to dApps and manage digital assets on Etherlink with Altme
Altme is a crypto wallet available on the Google Play Store and Apple App Store. With the integration of Etherlink, Altme Wallet users can:
- Connect to Etherlink dApps: Access decentralized applications built on Etherlink ;
- Enjoy fast transactions: Experience near-instant transaction ;
- Benefit from low fees: Make transactions for a fraction of a cent ;
- Explore a growing ecosystem: Interact with a wide range of Etherlink-based applications as the ecosystem continues to expand.
But ALTME is more than just a non-custodial crypto wallet; it’s your personalized gateway to Decentralized Identity. You can think of it as an advanced digital passport that you carry right in your pocket.
👉 With Altme, proving your identity, age, compliance, and more has never been more straightforward and secure. Each proof you claim in Altme is reusable, easy to share, instantly verifiable, and under your sole control.
3. Bringing Decentralized Identity to Etherlink
As Web3 continues to redefine the digital landscape, Decentralized Identity emerges as a foundational element that ensures greater privacy, security, and autonomy. Instead of companies or organizations controlling your personal information in central databases, you get to control it yourself.
Decentralized Identity works with Verifiable Credentials: These are digital versions of documents like ID cards, passports, or diplomas that you can claim by using a Decentralized Identity wallet, like Altme. They are more secure and easier to verify than traditional documents.
How to use Verifiable Credentials: These new digital credentials can be used to prove all sorts of things about you online, such as your identity (ID), age, humanity, qualifications (diploma), and more, in just a few clicks.Â
Who issues these credentials: Trusted entities, like governments or companies, can issue these credentials. They put a digital signature on them, which makes it easy for anyone to verify instantly.
Think of Decentralized Identity (DID) as an advanced digital passport in your pocket that you can use to prove anything about you—highly secured, reusable, easy to share, fraud-proof, instantly verifiable, and solely under your control.
Decentralized Identity is going to completely reshape how users control and own their data, improving security, privacy, and trust between people and organizations in the digital world.
4. What are the benefits of Decentralized Identity for Web3 projects?
1/ For users = The holders of Verifiable Credentials that want to protect their data ;
One of the key advantages of Decentralized Identity (DID) in the Web3 ecosystem is its ability to enhance privacy and data ownership. With DID, individuals have control over their personal information and can selectively disclose only the necessary data for specific transactions or interactions. This level of granular control not only mitigates privacy concerns but also minimizes the risk of identity theft and fraud.
By using decentralized identity wallets, Web3 users can benefit from 👇
- Full control and ownership: Users manage their personal information themselves and decide how and with whom to share it.
- Better security: Since data are stored and encrypted in Decentralized Identity wallet, the chances of data leaks or unauthorized access that often happen with central storage systems are drastically reduced.
- Privacy-preserving features: Selective disclosure and zero-knowledge proofs (ZKP) features give users the ability to share only the necessary information when required and protect their privacy.
- Improved user experience: Verifiable Credentials are reusable, making it super convenient to share/prove identity, age, humanity, compliance, and more.
2/ For Web3 service providers = Online services, dApps and Businesses, that need to verify users identity, age, humanity, membership, compliance or more ;
Decentralized Identity also offers benefits to businesses operating in the Web3 space. By utilizing Decentralized Identity solutions, these service providers can streamline customer onboarding processes, reduce reliance on centralized identity providers, and improve user trust.Â
DID’s tamper-proof nature provides increased security and can help combat fraud and impersonation attempts, thereby safeguarding both businesses and their customers.
By leveraging Decentralized Identity, Web3 dApps and service providers can benefit from 👇
- Faster user onboarding and reduced verification costs: Verifiable credentials are reusable and instantly verifiable, streamlining the onboarding process and reducing costs.
- Reduce fraud and improve regulation compliance: Verifiable credentials are extremely secure, making it hard for anyone to fake or tamper with them. This helps service providers reduce fraud and adhere to legal requirements such as KYC/AML, and age verification rules.
DIDs and verifiable credentials are all about giving you more control, verifiability and security over your data, while ensuring you meet all necessary compliance requirements before accessing online services such as regulated DeFi, GameFi, etc.
Get Started
Download the Altme Wallet today to experience the power of decentralized identity on Etherlink and Tezos. Developers interested in integrating Altme’s identity solutions into their Etherlink projects are invited to contact Altme’s team for support and documentation.
Disclaimer
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