The world of Web3 is constantly evolving, with innovative projects and collaborations taking center stage. One such collaboration has just been announced between SPACE ID and Ethereum Name Service (ENS).
This collaboration will allow users to type their wallet addresses with the format xxx.bnb.eth or xxx.eth.bnb in wallets such as MetaMask and imToken, and have them resolved to their Ethereum Virtual Machine (EVM) address on Ethereum.
Mutual Resolution and a Bright Future
SpaceID and ENS have worked together to achieve mutual resolution for both .bnb.eth and .eth.bnb domain holders. ENS has set the .bnb.eth resolver for SpaceID, while SpaceID has set the .eth.bnb resolver for ENS. This development marks a significant milestone in cross-chain collaboration and promises more exciting developments to come.
Empowered by ERC-3668
The foundation of this partnership is built on the Ethereum Request for Comment (ERC) standard, ERC-3668. Also known as the Cross-Chain Interoperability Protocol (CCIP) Read, ERC-3668 provides a secure mechanism for contracts to fetch external data off-chains.
ERC-3668 aims to minimize storage and transaction costs on Ethereum by allowing smart contracts to retrieve data from off-chain sources. In addition, the standard enables clients to be entirely agnostic to the storage solution being used, allowing for new applications that can operate without knowing the underlying storage details of the contracts they interact with.
Potential Use Cases
ERC-3668 unlocks numerous possibilities for the future of decentralized applications. Some potential use cases include:
- Interacting with ‘airdrop’ contracts storing a list of recipients off-chain in a Merkle trie.
- Viewing token information for tokens stored on Layer 2 (L2) solutions as if they were native Layer 1 (L1) tokens.
- Delegating data such as ENS domains to various L2 solutions without requiring clients to support each solution individually.
- Allowing contracts to proactively request external data to complete a call without requiring the caller to be aware of the details of that data.
A Warm Invitation
This partnership between SpaceID and ENS is just the beginning of a new era in the web3 space. Both organizations warmly invite more wallets, decentralized applications, and projects to integrate ERC-3668 into their platforms, paving the way for further innovation in secure off-chain data retrieval.
With the growing importance of cross-chain collaboration and interoperability, this partnership serves as a testament to the power of cooperation and the limitless potential of the decentralized world.