What are Soul-Bound Tokens (SBT) and how do they work?
Soulbound Tokens (SBT) refer to digital identity tokens that represent the characteristics or reputation of a person or entity. entity.
How to crypto
By creating an alternative financial system with extraordinary flexibility and innovation in less than ten years, Web3 has stunned the world. Economic and cryptographic primitives such as smart contracts and consensus mechanisms have helped create an open source system for performing and authorizing financial transactions.
However, the decentralized finance (DeFi) ecosystem cannot support simple contracts like an apartment lease because it does not have a native Web3 identity. This article aims to demonstrate how even modest advances towards representing social identity with soul-bound tokens could circumvent these constraints and redirect Web3 towards an authentic and more transformational path.
What are Soul-Bound Tokens (SBT)?Projects and use cases that focus on social identities and communities rather...
Soulbound Tokens (SBT) refer to digital identity tokens that represent the characteristics or reputation of a person or entity. entity.
How to crypto
By creating an alternative financial system with extraordinary flexibility and innovation in less than ten years, Web3 has stunned the world. Economic and cryptographic primitives such as smart contracts and consensus mechanisms have helped create an open source system for performing and authorizing financial transactions.
However, the decentralized finance (DeFi) ecosystem cannot support simple contracts like an apartment lease because it does not have a native Web3 identity. This article aims to demonstrate how even modest advances towards representing social identity with soul-bound tokens could circumvent these constraints and redirect Web3 towards an authentic and more transformational path.
What are Soul-Bound Tokens (SBT)?Projects and use cases that focus on social identities and communities rather...
What's Your Reaction?
