Gate.io AMA with Getaverse-A Metaverse Ecological Service Platform Based on the Web3 Digital Authentication Engine Protocol
Time: July 6th, 2023, 08:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Ryan Chris, CEO of Getaverse in the Twitter Space.
Official Website: https://getaverses.com/
Twitter: https://twitter.com/GetaverseGlobal
Follow Getaverse on Twitter and Telegram
Guest
Ryan Chris — CEO of Getaverse
Q&A from Gate.io
Q1: How is the DID market overall so far? Could you give us a brief introduction to Getaverse?
Ryan: Sure.
Based on a recent study conducted by Grand View, it is projected that the global market for decentralized identity (DID) will reach $102 billion by 2030. The market is anticipated to experience a Compound annual growth rate (CAGR) of 88.2% from 2022 to 2030.
We know that the core value of DIDs lies in the following areas:
Autonomy and privacy protection: DIDs enable individuals to manage their identity information independently, no longer relying on a centralized authorized body. This means that individuals can better protect their privacy and personal data.
Verifiability: DID provides a way to verify identity. By using cryptographic techniques, DIDs can prove that an entity has a specific identity and that this identity can be verified across the network without relying on a centralised authentication authority.
Interoperability: DIDs can interact seamlessly between different applications and services. This means that a DID holder can use the same identity across different platforms and the authentication and authorisation process can be simplified and made more efficient.
At the same time, the main pain points facing the DID track, which is currently marketed as broadly divided into identity, application and credential layers, are: the crude binding between Web2 and Web3, the lack of openness in social graph projects, the anchoring of user value in the platform rather than the user’s address, the security and validation of user data, the control of the right to value their information, including assets, identity and data, and the lack of a trust layer for the user’s wallet address Cost.
In the long term, the use of DID facilities cannot be achieved without the combination and cooperation of the various layers with each other, and it may be difficult to play interoperability as well as combinability between different layers due to system differences. The multi-layered layout and design of Getaverse is a huge advantage over a single DID infrastructure ecosystem.
Getaverse provides services not only for individual Web3 users, but also supports protocol layer users such as Web3 developers and Web3 applications. As a DID traffic portal, Getaverse provides trusted traffic, user data and precise users through its own ecosystem to accelerate the project ecosystem and facilitate ongoing high-frequency scenario adoption. The platform’s comprehensive features and services enable Getaverse to meet the needs of different users and drive the blockchain ecosystem. getaverse allows social data rights to be vested in all data holders, while allowing platform traffic advertising and profiling revenue to be returned to all active users through a decentralized protocol settlement, safeguarding personal data and enhancing the digital Web3 experience and expanding the DID credit usage scenario.
Meanwhile, Getaverse is one of KuCoin Labs’ Astro Selection incubatees and has received investments from LD Capital, Waterdrip Capital, AC Capital, ChainUp Capital and YBB Foundation. Getaverse DID platform has exceeded 140k DID users and nearly 120k casting SBTs in just over a month since its launch. getaverse will become a protocol application that can provide high value data services to the entire Web3 ecosystem in the future, enabling the discovery and sinking of value in data.
Q2: How can Getaverse attract more users in terms of user experience and brand innovation?
Ryan: Getaverse, as a DID credit protocol, offers imaginative and groundbreaking applications (scenarios) to attract users. Here are a few of them :
Self-Sovereign Identity.
Permissionless Federated Social Experience within the DID Social Network.
Improving Platform Incentives for Data Curators.
Introducing Oracles for Dynamic Attribute Updates.
Credit Evaluation Model Driven by Historical Transactions and On-Chain Behavior.
Accumulated DID Credit Score for Unsecured Loan Protocols and RWA Adoption.
Modularity, Embeddability, and High Openness.
In the future, everyone will have a digital identity deeply bound to one’s daily life, it is what we call DID (Decentralized Identity).
The DID market is expected to continue to expand and become an important part of the Web3 ecosystem as more and more enterprises, organizations and users recognize the value and potential of DIDs.
As we mentioned earlier, Getaverse will provide a more secure, decentralized authentication solution that is expected to be widely used in social media, traditional finance (especially RWA) and other areas, and play an important role in protecting user privacy and preventing identity theft; enabling identity verification and credit assessment in DeFi applications, breaking through the barrier of unsecured lending to enable lending, deposit and other financial services; and enabling the user’s own ownership and control of specific assets, ensuring their security and traceability, etc.
Q3: For the DID market, what are the current advantages of the Getaverse DID credit protocol?
Getaverse aims to become a growable credit protocol for the Web3 ecosystem, realizing a decentralized society that decentralizes user identity and confirms identity value in the Web3 world, emphasizing digital content property rights and ensuring users receive value.
- Unified DID platform based on Soul Bound Token (SBT)
Getaverse builds a unified decentralized platform based on soul-bound tokens to build a Web 3.0 personal data value system that transforms the Web 3.0 personal data value using the Getaverse credit scoring system. - Open DID and API to connect all Web3 application ecosystem
Getaverse improves the underlying system based on Getaverse by providing an interface to Web3.0 applications, enabling rich conditions and methods for value capture between users and Web3 applications. - Open application platform that empowers Web3 users and innovative projects
Getaverse will start with a large number of users and a well-established infrastructure to open a high-quality social channel through the DID credit system, connecting social networks with the Web3.0 domain and the metaverse world. - Credit Database Based Risk Management Module
The risk management module of the Getaverse protocol is based on on-chain data analysis and monitoring. The protocol provides global crypto users with third-party plugins for crypto transaction risk control and compliance technology services that operate at the user data level.
Q4: What is the current product development of Getaverse? What are the future plans?
Ryan: Getaverse DID platform 2.0 is now online, with domain name resolution, DID component optimization, project management portal, third party API/BOT optimization, UI optimization, unified resource locator, code optimization and upgrade. Meanwhile, the official revealed that DID version 2.1 will provide EVM address data analysis, including but not limited to address assets, address tracking, address labeling, transaction frequency, on-chain behavior analysis, etc.
Getaverse will continue to take advantage of the DID credit protocol platform next, carry out DID and SBT credit protocol technology standardization, provide more credit protocol application use cases, and promote decentralized Getaverse will continue to leverage the strengths of the DID credit protocol platform to standardize DID and SBT credit protocol technologies, provide more credit protocol use cases, and drive innovation and development in decentralized identity management and the application of Getaverse credit protocols in DeFi and RWA.
Getaverse DID platform users have exceeded 140k users, casting SBT has exceeded 120k , now deployed BNB, Ethereum, zkSync, Arbitrum, Optimism, Polygon and other public chains.
By intelligently computing blockchain data, Getaverse establishes a credit evaluation model based on historical transaction activities and on-chain behavior evaluation, providing credit-level risk control warning for crypto ecological participants, reducing regulated risks, and helping Getaverse ecological partners grow together.
Q5: Can you give us a brief overview of the Getaverse core team?
Ryan: Ryan, CEO of Getaverse, has over 5 years of investment and research experience in the cryptocurrency industry and he is an expert in digital marketing and building cryptocurrency startups. He has provided marketing, management, risk control and financial consulting for over 10 projects.
Getaverse CMO Brucey, has over four years of experience in the blockchain industry . He is a dynamic and focused Web 3 explorer who has developed expertise in marketing and branding.
Akhil Rajavaram, Getaverse CTO, has a Master’s degree in Computer Engineering from Columbia University. He has been involved in the technical research and development of several Web3 projects. Currently Akhil Rajavaram is responsible for Getaverse’s DID system architecture, smart contract development, cryptographic algorithm implementation and system security.
Getaverse Special Advisor Dr. Wang is the blockchain professor at the UBC in Vancouver, he is also a doctoral student supervisor, a core member of the Blockchain@UBC Research Center, and a mentor at the entrepreneurship@UBC incubator. He is one of the first professors at UBC to offer blockchain courses and co-built the first postgraduate blockchain program of the entire North America in 2019.
Q6: What about the Getaverse token economy? How is the value captured?
Ryan: The total supply of Getaverse tokens is limited to 5 billion, and the GETA allocation is as follows:
Seed round: 5%, 5% released at TGE, remaining 95% locked for 6 months and then released linearly for 36 months.
Institutional round: 10%, 5% released at TGE, remaining 95% locked for 6 months and then released linearly in 24 months.
IDO: 1.5%, fully unlocked at launch.
Team: 10%, 10 months locked position at TGE, then released linearly over 36 months.
Eco-contributors: 10.5% for airdrops, community events, eco-engagement.
DAO Foundation: 8%, released 1% at TGE, remaining DAO voting governance.
Trusted verifier nodes: 55%, halved every year, until ended.
Token Utility : Staking & Governance, Curating Dataset, Paying for Data Consumer Indexing Fee, Improving Credit Score, Paying for Trusted Verifier Node, Paying for Trusted Verifier Node Fee, etc.
Q7: Can you share the future roadmap of Getaverse?
Ryan: Getaverse has completed many breakthroughs and product iteration updates in Q1 and Q2 of this year. global deployment of Getaverse trusted verification nodes, design and development of DID credit system, launch of Getaverse DID platform version 1.0 and 2.0, activation and opening of API interface, etc.
Meanwhile, Getaverse has also completed seed and institutional rounds of funding, and will initiate the dNFT format mapping of DID identities, accumulate credit points, accelerate the blockchain social system based on Getaverse protocol and promote the launch of GETA tokens.
