Litentry, a cross-chain decentralized id (DID) aggregator that allows linking person identities amongst a number of decentralized networks, has introduced its latest partnership with Tidal Finance, a decentralized insurance coverage market that helps customized insurance coverage swimming pools for a number of belongings.

By means of this new partnership, Tidal Finance can provide safety options for Litentry’s companies to forestall monetary losses as a consequence of hacking of person information and thus shield the customers themselves.

Litentry’s objective is to discover a method to join person information from completely different decentralized platforms and companies whereas preserving person privateness and information sovereignty. This may be achieved via id aggregation. By means of utilizing Tidal’s companies and platforms, the circulation of person information between completely different companies could be safer, creating a greater and safer surroundings for DeFi.

Alternatively, Litentry’s DID aggregation API and computational mannequin will assist Tidal higher perceive the on-chain habits of insurance coverage consumers and thus their danger profile. This danger profile can be used to set premiums for various customers primarily based on subtle algorithms, forestall false submission assaults, and make the reconciliation course of with accredited accounts extra strong.

This extra and essential person info permits Tidal Finance to supply operations on a extra advantageous and environment friendly platform whereas defending person privateness and offering a greater person expertise.

Consumer identification performs a higher function in decentralized companies, particularly when the server asks the consumer for figuring out info resembling KYC, credit score scores, or different delicate info.

Tidal can make sure the safety of knowledge transmission to make interoperable companies not solely helpful however safer of their communication to guard customers from id theft and supply a safer person expertise when utilizing monetary companies.


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