Bitlayer Series (Nineteen): Innovations in Web3 Authentication
Bitlayer leverages the immutability of Bitcoin to develop a Web3 identity system, allowing users to use their BTC addresses as credentials to verify their identity in DeFi without the need for third-party KYC. This simplifies the registration process while maintaining decentralization.
Through BitVM, identity contracts can handle multi-factor authentication, such as combining wallet signatures and zero-knowledge proofs to ensure security without leaking information. In practical applications, this can be used for access control on DeFi platforms or cross-chain permission management.
Bitlayer's identity innovations make Bitcoin a trust anchor in Web3. It reduces the risk of identity theft and promotes safer digital interactions.
