One common concern is that with the passage of time since the development of ENS in 2017, the concept of domain names may have lost its appeal. The idea of simply changing the top-level domain name to stir up interest might not hold much value. Having a .eth domain should be sufficient.
However, the ability to create custom branded top-level domains, is merely the most superficial aspect of our product.
Let's illustrate our protocol's purpose with a real-life example:
we have various types of IDs and identification documents in real life
To some extent, these documents are universal, such as verifying identity, proving age for purchasing alcohol or tobacco, etc. However, they are not interchangeable in specific use cases. For example, only a passport can be used for crossing borders, and a driver's license is required for traffic violations.
Existing domain name projects, in comparison to the IDs we use in real life, have only achieved the former half, supporting only very general wallet address and name resolution functions. A .eth domain, for instance, cannot carry specific use cases like visa stickers on a passport or vehicle types on a driver's license.
While .eth domains are versatile and can be used in almost all Ethereum-based dApps, they are costly and inflexible, making it difficult to combine with a specific application scenario. If a project wants to develop a DID system that aligns with its own business logic, it will face issues of high cost and limited applications.
Our protocl, a decentralized identity-as-a-service solution, primarily addresses the contradiction between DID's universal capability and its adaptability to specific use cases.