Competitive Landscape

Several projects and protocols have emerged to address aspects of the multi-chain challenge, each with its own approach to solving cross-chain interaction and identity management. However, most existing solutions have their limitations:

• ENS (Ethereum Name Service):

ENS has become a popular option for users to register human-readable names on the Ethereum blockchain. By converting Ethereum wallet addresses into simpler names like "username.eth," ENS has made it easier for users to interact within the Ethereum ecosystem. However, its functionality is largely confined to Ethereum, making it less useful for users who need similar services across other blockchains like BNB Chain or Solana.

• Unstoppable Domains:

Unstoppable Domains provides a similar service to ENS but extends its reach beyond Ethereum to include other blockchains such as Polygon. It allows users to purchase domain-like names that map to wallet addresses across multiple supported chains. While it offers broader coverage than ENS, it often requires users to manage specific configurations for each blockchain, which can be daunting for non-technical users. Additionally, Unstoppable Domains relies on a proprietary system for domain registration, which can limit interoperability and flexibility.

• Cross-Chain Bridges (e.g., AnySwap, Wormhole):

Cross-chain bridges like AnySwap and Wormhole provide solutions for transferring assets between different blockchains. These bridges act as intermediaries, allowing users to lock assets on one chain and mint equivalent tokens on another. While these solutions offer the essential infrastructure for cross-chain liquidity, they often come with challenges such as high fees, slow transaction speeds, and complex user interfaces. Additionally, these bridges are prone to security risks and have been targeted in various exploits, leading to concerns about their safety.