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Space ID is a decentralized identity protocol that integrates self-sovereign identity systems with blockchain technology. It enables users to create, manage, and utilize digital identities across different blockchain ecosystems. Space ID, powered by its native token, ID, was launched in March 2023.
Space ID was co-founded by a group of blockchain enthusiasts under the leadership of Xu Nuo and Xu Wei in 2022. The team aimed to simplify identity management while ensuring privacy and security.
• Self-sovereign identities: Users maintain control over their digital identities without intermediaries.
• Blockchain interoperability: Space ID enables seamless identity usage across various blockchain networks.
• Decentralized governance: ID token holders participate in protocol governance and decision-making.
• Security audits: Space ID undergoes regular security audits by top firms, ensuring a safe ecosystem.
Since its launch in March 2023, ID has gained significant traction. Ranked among the top 200 cryptos by market capitalization, ID has shown a strong upward trend. Crypto analysts predict a bullish future for ID, highlighting its potential for sustainable growth.
The current price of Space ID, as of 28 January 2025, is ₹30. You can buy Space ID from cryptocurrency exchanges like CoinSwitch.
• Governance: The ID token is a governance token, enabling holders to vote on protocol updates and proposals.
• Staking: Token holders can stake their ID tokens to earn rewards.
• Trading: Investors can trade ID tokens to leverage short-term price movements via exchanges like CoinSwitch.
• Focus on self-sovereign identity enhances user privacy and control.
• Interoperability allows usage across multiple blockchains.
• Decentralized governance boosts community involvement.
• The concept of decentralized identity is still new to many users.
• The ID token’s recent launch makes it prone to market volatility.
• Adoption may take time to gain momentum.
• Start investing in ID with just ₹100.
• CoinSwitch provides a seamless crypto trading experience for all levels of investors.
• Easily manage your transactions and portfolios within the app.
Space ID (ID) is a decentralized platform that focuses on providing users with tools and services for managing their digital identities securely. The ID token serves as the native utility token within the ecosystem, facilitating access to premium features, governance participation, and incentivizing users. Specific details regarding the total token supply and allocation are not readily available.
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1. What is a self-sovereign identity and how does Space ID support it?
A self-sovereign identity allows users to have full control over their digital identity without relying on centralized authorities. Space ID enables users to create, manage, and use their identities across multiple blockchain networks while maintaining privacy and security.
2. How does Space ID ensure security for users?
Space ID undergoes regular security audits conducted by top security firms to ensure its ecosystem is safe. This adds an extra layer of trust, especially for users managing sensitive digital identities across different blockchain platforms.
3. How can I participate in the governance of Space ID?
ID token holders can participate in the governance process by voting on protocol updates, changes, and future developments. This ensures that the community has a say in the direction of the Space ID ecosystem.
4. Can I stake my ID tokens for rewards?
Yes, users can stake their ID tokens to earn rewards. Staking not only provides passive income but also contributes to the security and growth of the Space ID network.
Highlight
Space ID (ID) is a decentralized identity protocol that empowers users with self-sovereign identities while enhancing blockchain interoperability.
ID Price Today
ID Price
₹4.01
Price Change 24h
0%
Price Change 7d
15.77%
Market Rank
#410
Market Cap
₹349 Cr.
Trade Vol 24h
₹26 Cr
Circulating Supply
₹156 Cr. ID
Trading Activity
100% Buy0% Sell
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
