Gnosis Launches Genome, a Name Service for Easier Web3 Identities

Bittime – Gnosis has just announced the launch of Genome, a digital identity service native to the Gnosis Chain. Understand more details about the Genome in the following explanation.

What is a Genome?

Genome is a service developed in collaboration with SpaceID, Web3's domain and identity platform; and dm3, the Web3 messaging protocol. This service allows users to change their long and complicated wallet addresses to easy-to-read names.

In this way, sending and receiving transactions and interactions within the Gnosis ecosystem become easier.

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Genome: A Simple Name for Complex Web3 Identities

Genome automatically grants ownership of the .gno and .gnosis.eth usernames to users. It delivers a seamless and interoperable user experience across EVM-compatible blockchains within the Gnosis ecosystem.

The service also syncs with various decentralized applications (dApps), communities, and social networks on Gnosis. With Genome, users only need one identity and login to access these various services.

Genome is also fully compatible with Ethereum Name Service (ENS), so users can own two domain names simultaneously.

“From payments to gaming to SocialFi, to realize the promise of Web3, we need to accelerate the development of interoperable on-chain communication and identification tools,” said Friederike Ernst, co-founder of Gnosis.

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Interoperability: One Identity for Many Platforms

Genome integrates with various applications on the Gnosis Chain, such as Gnosis Pay and Circles, as well as other blockchain utilities such as Blockscout and NiftyFair.

This integration ensures users can maintain consistent identities across platforms, improving interoperability.

According to Ralph Xu, Business Development Specialist at Gnosis, the main differentiator between Genome's .gno domain and other products is the custom ENS resolver developed by the DM3 Protocol team.

This resolver connects .gno domains on Gnosis Chain with their corresponding subdomains on Ethereum. In other words, one domain can be an extension of another domain on a different blockchain.

This is possible through CCIP L2, cross-chain interoperability, and off-chain resolution, which leads to an off-chain server and then to a smart contract on the Gnosis Chain, relaying the information back to Ethereum.

The launch of Genome is in line with Gnosis' vision to create inclusivity through an open and accessible infrastructure. Currently, the project has opened registration for the username .gno or .gnosis.eth to the public.

Things to Consider from the Genome

The launch of Genome by Gnosis was greeted enthusiastically by several groups. However, before you rush to register a username, it's a good idea to consider the following things.

1. Initial Phase and Limited Ecosystem

The genome is still in the early stages of development. Not many applications and services are integrated with this service.

Although Gnosis Chain shows commitment by integrating Genome into its applications, wider adoption from external parties remains to be proven.

2. ENS Adoption: Will Users Need Two Domain Names?

Genome offers usernames with .gno and .gnosis.eth. However, given the popularity and widespread adoption of Ethereum Name Service (ENS), it is worth considering whether users need two different domain names.

3. Security: Trust your Identity to a Third Party?

Genome uses a third-party resolver developed by the DM3 Protocol team to connect .gno domains with subdomains on Ethereum.

Even though it is believed to be safe, using third-party services always carries its risks. You should understand well the working mechanism of the resolver and the potential risks.

4. Other Alternatives

Services such as ENS and Unstoppable Domains have already been around and have a large user base. Before deciding to use Genome, it's a good idea to compare the features and advantages offered by these competitors.

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Conclusion

Genome offers a compelling Web3 identity solution with ease of use and interoperability. However, it is too early to confirm whether this service will become the standard in the future.

Do your research and consider the factors mentioned above before deciding to use Genome. Remember, choosing the right Web3 identity service depends on your needs and priorities.

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Gnosis (GNO) is available on Bittime with the market pair GNO/IDR. To be able to buy GNO IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Gnosis (GNO) on Bittime. 

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DISCLAIMER: This article is informational and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.