Urbit Network Launches with Unique User Identification System Based on NFTs
The Urbit network has officially launched with a unique user identification system based on non-fungible tokens (NFTs). Users are identified on the network by their Urbit IDs, which are four-syllable pronounceable names generated by an algorithm from a number and then registered as NFTs on the Ethereum blockchain.
The Urbit ID system is designed to be more secure and decentralized than traditional user identification systems. According to the website, “Your Urbit ID is your cryptographic identity on Urbit; it ties your on-chain and off-chain identities together, allowing you to own and control your own data and services.”
Each Urbit ID is linked to a number, and users can choose to generate their own IDs or purchase them from the Urbit marketplace. The marketplace allows users to buy, sell, and trade IDs, with prices ranging from a few hundred dollars to over $1 million.
The launch of the Urbit network comes after several years of development and testing. The network also features a custom programming language and a decentralized operating system designed to be more secure and efficient than traditional operating systems.
Urbit has already garnered attention and investment from prominent figures in the tech industry, including venture capitalist Marc Andreessen and billionaire entrepreneur Peter Thiel.
As the use of NFTs continues to grow and evolve, the Urbit network’s unique identification system could pave the way for more secure and decentralized user identification systems in the future.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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