Litentry has announced a strategic partnership with Cere Network in order to optimize Cere’s customer identity service.
According to the announcement, Litentry will provide aggregated identity data service to the Cere Network, a Polkadot-based finance cloud and decentralized data platform. In return, Cere will incorporate Litentry’s identity data scheme into its Decentralized Data Cloud (DDC) network.
— Litentry (@litentry) March 10, 2021
The partnership will improve Cere’s interoperability in enterprise user identification. Cere users will be able to ask about their customers’ on-chain identity via Litentry, using data models like on-chain governance engagement and DeFi credit record. Also, the integration will enable Litentry to incorporate Cere’s enterprise customer identity model into its data libraries. This will enable Litentry external dApps to utilize Cere’s user identity data via user authorization for computing higher metaphysical identity.
Also as a result of the collaboration with Cere Network, Litentry will also become a member of the SaaS-DeFi alliance, joining the likes of Binance Smart Chain, Elrond, Chainlink, Polygon, Reef, and others. The SaaS-Defi alliance is looking to create universal protocol standards for the Enterprise DeFi space, as well as improving the communication between the DeFi ecosystem and the enterprises.
Litentry Integrates Paralink’s Cross-Chain Oracle Solutions
In a similar development, Litentry has also entered a strategic partnership with Paralink Network to bring the utilization of real-world data in crypto applications to the mainstream through its easy-to-use PQL language, not to mention its lower cost and flexibility.
Litentry partners with @ParalinkNetwork to integrate Paralink's cross-chain oracle solutions.
The integration of Paralink’s oracles will ensure the data sources obtained by Litentry for identity credit computation is reliable and accurate.https://t.co/MG8m0T1er6
— Litentry (@litentry) March 18, 2021
According to the announcement, Litentry’s integration of Paralink’s oracles will ensure the data sources obtained by the DID aggregation protocol for identity credit computation is reliable and accurate.
Vice versa, Paralink will also incorporate Litentry’s computation services into their validator pool to streamline the curation process. Also, due to the collaboration with Paralink, Litentry will be able to make use of the Paralink Network’s multichain oracles.
Speaking on the integration, Hanwen Cheng, founder and CEO of Litentry, said, “Through this partnership, we are one step closer to building a high-performance, functional DID ecosystem. We’re glad that we will provide more reliable and cost-effective DID services to our users.”
It was further noted that Litentry is working hard to create a full-scale, decentralized identity-based network and related tools.
At the time of publication, LIT token price has risen by 10.9% in the last 24 hours. It was trading at $9.83, with a market cap of $177,465,722 and a 24-hour trading volume of $59,768,288.
Join Altcoin Buzz on Telegram to receive free trading signals.
Find out more about the crypto space on the Altcoin Buzz YouTube channel.