Solana Basis launched the Solana Attestation Service on Could 23, positioning the protocol as a belief layer for what the community’s backers name “web capital markets.”
The open-source service lets authorised issuers bind off-chain credentials, similar to know-your-customer outcomes, geographic eligibility, or accreditation standing, to a person’s pockets deal with with out exposing private knowledge on-chain.
Attestations reside contained in the pockets, journey throughout functions, and are verified with a software program growth package name.
In response to the announcement, the design removes repetitive onboarding checks and eliminates the necessity for every undertaking to retailer delicate identification data.
Transportable credentials intention to streamline compliance
The Basis mentioned builders can deploy Solana Attestation Service to fulfill regulatory obligations, gate region-specific choices, or construct fame programs that deter Sybil assaults.
Traders can maintain “KYC passports” as soon as and reuse them for future token gross sales, gaming studios can difficulty badges linked to provable participant histories, and real-world asset platforms can affirm that consumers meet accreditation thresholds earlier than releasing digitally wrapped securities.
Identification suppliers in Solana’s ecosystem have already built-in the brand new service. Moreover, infrastructure companies plan to ingest attestation knowledge for danger scoring and transaction monitoring.
The Solana Identification Group developed the protocol. Group members mentioned they might publish extra identification requirements and invite different groups to contribute by open-source repositories.
Rise of web capital markets
Solana Attestation Service arrives because the Basis and unbiased builders push the idea of web capital markets.
The idea contains a mannequin the place builders can search funding decentralized by tokens. These tokens act as equities for the builder’s product, granting the best to obtain returns.
The primary venue for this new narrative is the Consider app, which lets builders current their ventures and search funding by posts on X. Australian expertise entrepreneur Benjamin Pasternak and TBH app founder Nikita Bier not too long ago endorsed the appliance.
Because of this, the launchpad’s native token, LAUNCHCOIN, soared 4,500% from Could 11 to Could 14. On the time of writing, LAUNCHCOIN has held an upside of two,800% since Could 11.
Solana’s new attestation service is central to this new crypto sector. It lets decentralized functions affirm authorized eligibility with out re-creating legacy databases.
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