Explain LITENTRY to a 5-YEAR OLD

FAQ
#1

Hey everyone!

One problem that I noticed with blockchain projects is that there is a huge knowledge gap between the project owners/developers and the public (or fans) who invests in the project.
As a senior Ph.D. student, I face with the same problem all the time:

Explain your research to a broad audience.

One way to do this is to communicate with your audience and explain the same concept from different angles until you simplify it so that a 5-year old can understand it.

My goal with opening this topic is to help Litentry to communicate with its audience in a better way. I will simply ask questions and I appreciate if someone from the team can answer these questions. The more we ask questions, the better we understand what Litentry is and its potential.

Here is my first question: What makes Litentry different that other DID projects? What gives it an edge?

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#2

As other projects involve traditional KYC to provide the credibility of the user. Litentry only uses on-chain data without access to users’ info in the real world. It is rather another you in the crypto world.

As on-chain data become more complex, we believe the on-chain data could reflect user behavior or credibility in the crypto world, with innovative identity aggregating protocol and our privacy-preserving technology with TEE, we prevent any nodes in the network access the aggregated identity data but user themselves. This on-chain aggregated identity could be more powerful than any traditional KYC and DID in the end.

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#3

Hey Hanwen,

Thank you very much for taking time and answering this simple question. As a founder, you should have a lot in your plate and we really appreciate your response as a community. Let me rephrase what you said above and see if I am getting it correctly.

You say that there are other projects, and it is conventional way as far as I know, using KYC to provide credibility to the user, but this doesn’t allow anonymity. Litentry, on the other hand, creates ANOTHER YOU in the world of crypto which CANNOT be tracked to REAL YOU. Here is another question: DID means “Decentralized Identity”, no? Is DID always anonymous? With this question, I am trying to understand if anonymity is something that ONLY Litentry offers or do other DID projects offer anonymity as a default feature?

I have more questions based on your response, but I want to go one question at a time so that each questions gets the attention it deserves.

Thanks for taking time!