What is SPACE ID (ID)?

Deep Dive

1. Purpose & Value Proposition

SPACE ID replaces complex wallet addresses (e.g., 0x3F5...5C4) with readable names like alice.bnb, functioning as a cross-chain identity layer. This solves address-related errors in crypto transactions and streamlines user onboarding.

The protocol supports use cases like:
- Payment IDs: Send crypto to exchanges via names like alice instead of 42-character addresses (Enkrypt integration)
- Business verification: Domains serve as KYB credentials in Web3 ecosystems

2. Technology & Architecture

SPACE ID operates as a decentralized naming system compatible with EVM and non-EVM chains (BNB Chain, Arbitrum, Ethereum). Key components:
- Web3 Name SDK: Lets developers embed domain search/registration into apps
- Domain resolution API: Translates names to addresses across supported chains
- Blockchain explorer integrations: Makes domains visible on platforms like BscScan

3. Tokenomics & Governance

The ID token (109M circulating supply) powers three functions:
1. Governance: Voting on domain policies and revenue allocation
2. Fee discounts: Stakers save on domain registrations and NFT marketplace trades
3. Ecosystem payments: Accepted for SDK access and premium domain purchases

Conclusion

SPACE ID positions itself as critical Web3 infrastructure by humanizing blockchain interactions through multi-chain domains while incentivizing participation via its token model. As digital identity becomes central to decentralized applications, can SPACE ID maintain its first-mover advantage against competing naming services?