1. PixelPlaygroundHome
  2. Metaverse Insights

The Rise of SPACE ID and Its Emergence on Binance Platform

• Metaverse Insights • 178 views

On March 27th, it was reported that 75 million of the 120 million IDs allocated in the SPACE ID market and ecological initial circulation have been transferred to the Binance platf

The Rise of SPACE ID and Its Emergence on Binance Platform

On March 27th, it was reported that 75 million of the 120 million IDs allocated in the SPACE ID market and ecological initial circulation have been transferred to the Binance platform, according to the monitoring by analysts of online data. It is reported that in the initial circulation of ID, 47.6 million pieces are air dropped tokens, 100 million pieces are the shares of the Binance Launchpad, and the remaining 120 million pieces are allocated to the market and ecology.

75 million IDs in the SPACE ID market and ecological initial circulation allocation have been transferred to Binance

SPACE ID is a decentralized identity ecosystem that serves as a secure and trustless identity management platform. It is designed to enable participants to retain control of their data while providing identification and verification services. In recent times, SPACE ID has gained a lot of popularity, and on March 27th, it was reported that 75 million of the 120 million IDs allocated in the SPACE ID market and ecological initial circulation have been transferred to the Binance platform, according to the monitoring by analysts of online data.

What is SPACE ID and How Does It Work?

SPACE ID is a decentralized identity ecosystem that provides participants with decentralized identification and verification systems. With SPACE ID, participants have total control over their data, which eliminates the need for third-party identity management systems. The protocol of SPACE ID is based on a decentralized identity management system that utilizes blockchain technology, smart contracts, and cryptographic algorithms to enable participants to create, store, and exchange their identity data among several trusted parties.

The Emergence of SPACE ID on Binance Platform

Binance is one of the leading cryptocurrency exchanges offering a range of services, including trading, staking, and charity. It recently announced its decision to support SPACE ID in its platform. A total of 75 million IDs have been transferred to Binance’s platform, which is a significant milestone for SPACE ID.

Components of SPACE ID Initial Circulation

In the initial circulation of SPACE ID, 47.6 million pieces are airdropped tokens to eligible community members who hold BNB, Binance’s native token, in their wallets. Additionally, 100 million pieces are the shares of the Binance Launchpad, which is a platform for transformative blockchain projects built on the Binance Chain. The remaining 120 million pieces are allocated to the market and ecology.

Benefits of Using SPACE ID

With SPACE ID, participants no longer have to worry about the security of their identity data since it is stored on a decentralized platform. The decentralization and security of SPACE ID make it difficult for malicious third parties to access participants’ personal data. Additionally, participants have total control over their data, which means they can choose to share it or not with third-party organizations.

The Future of SPACE ID

SPACE ID has gained massive popularity among cryptocurrency enthusiasts, and with its emergence on Binance’s platform, the future looks bright. The partnership with Binance will not only increase the value of SPACE ID but also bring attention to the decentralized identity management system that SPACE ID provides. With the continued adoption of blockchain technology, SPACE ID has the potential to become one of the leading decentralized identity management systems in the world.

Conclusion

SPACE ID is an innovative decentralized identity ecosystem that is gaining massive popularity among cryptocurrency enthusiasts. With its emergence on Binance’s platform and a total of 75 million IDs transferred, the future looks promising. The security, decentralization, and control of personal data provided by SPACE ID make it an attractive choice for identity management.

FAQs

1. What is the significance of the 75 million IDs transferred to Binance’s platform?
The transfer of 75 million IDs to Binance’s platform is a significant achievement for SPACE ID. It brings attention to the decentralized identity management system and increases the value of SPACE ID.
2. How does SPACE ID work?
SPACE ID is based on a decentralized identity management system that utilizes blockchain technology, smart contracts, and cryptographic algorithms to enable participants to create, store, and exchange their identity data among several trusted parties.
3. What are the benefits of using SPACE ID?
SPACE ID provides a decentralized platform for identity management that offers total control, security, and privacy to participants. Participants can choose to share or not share their personal data with third-party organizations.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/11191/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/27/2023 04:13
Next 03/27/2023 04:33

Recommended articles