Concordium, the Layer 1 science-backed blockchain platform, is partnering with Web23, the smart domain platform, to integrate Web23’s smart wallet and enable it to host both Web2 and Web3 domains. As part of this collaboration, Concordium is launching the Concordium Name Service (CNS), a decentralized platform that allows user-friendly wallet addresses to be created using its ID verification layer. This integration will provide a single platform where users can buy, sell, and manage both Web2 and Web3 domains, enhancing compatibility within the domain space for all chains and browsers.
The Web23 smart wallet is unique in its ability to simultaneously host traditional and new-age domains. This technological integration lays the foundation for the development of the Concordium Name Service, a distributed, secure, and extensible naming system for Web3.
Lars Seier Christensen, Chairman of Concordium, explained that the launch of the Concordium Name Service and the integration with Web23 will simplify interactions and transactions between users by allowing them to name their wallets. This feature will also bring transparency to enterprise use cases such as sustainability and ESG tracking, as enterprise domains can be identified using easily recognizable domain names instead of complex hexadecimal titles. With more enterprise users transitioning from Web2 to Web3, having the ability to manage both domains from a single platform will increase efficiency during this process.
The integration between Concordium and Web23 ensures blockchain-enabled ID verifiability through Concordium’s ID verification layer. This creates an accountable ecosystem that verifies the identities of issuers, contributors, and more. By verifying domains, users can protect themselves and others from fraudulent websites pretending to be legitimate companies.
Founder of Web23, Som Kirann, highlighted the significance of bridging the gap between Web2 and Web3. This integration simplifies the onboarding process for Web3 by incorporating Concordium’s identity verification layer, which helps prevent the transfer of issues associated with Web2, such as data monopolies held by big tech companies. Users can verify their identities and domains while using their wallets, ensuring they are interacting with authentic websites. This collaboration is aimed at building a safer online environment for all users by leveraging Concordium’s ID layer and zero-knowledge proof technology.
Overall, the partnership between Concordium and Web23 brings together blockchain technology, ID verification, and domain management to enhance compatibility and security within the digital domain space. By offering a platform that hosts both Web2 and Web3 domains, users can experience a seamless transition while enjoying heightened security and trust in their online interactions.