Technology Roadmap
Login with Ethereum
All users are identified by their Ethereum public key on SO-COL. For users who are already experienced with using decentralized apps, they can continue to use login methods they are comfortable with, such as logging in with Metamask or Coinbase Wallet. However, for first-time crypto users, setting up their wallets and managing seed phrases could be a roadblock for them.
To give users a more seamless onboarding experience, we have built our own customized authentication flow that integrates Web3Auth to allow first-time crypto users to create a wallet using their Google account or Apple ID. This removes the need to manage a seed recovery phrase and instead uses their email for private key recovery in case they lose their devices. This allows users to get access to fully non-custodial wallets with minimal handling management.
In the next phases:
SO-COL Layer 2
In partnership with Starkware, SO-COL will develop its own layer 2. The SO-COL layer 2 is powered by StarkEx, a scalability engine live on the Ethereum mainnet (https://starkware.co/starkex/). StarkEx leverages STARK technology to power scalable self-custodial transactions (trading and payments) for applications such as DeFi and gaming. StarkEx enables an application to scale significantly and improve transaction speed, while also reducing transaction costs.
Our primary focus for deploying our own layer 2 is to support a more seamless onboarding experience for non-crypto natives. Notably, this allows our users to interact with the blockchain without needing to hold Ethereum to pay gas fees, allowing them to engage with NFTs directly with fiat currencies without having to own any cryptocurrencies.
Decentralized ID (DID)
Decentralized IDs (https://www.w3.org/TR/did-core/) are a new type of identifier that enables verifiable, decentralized digital identity. We are building our own DID protocol, which in our case are proofs that the owner of a social media account (e.g. Instagram) is also the owner of an Ethereum wallet, for example. Within our DID protocol, DIDs can be dynamically generated to be embedded within each minted NFT.
Each DID can be independently verified by anyone simply by decoding the DID according to our protocol standard. What this means is that even if someone transfers NFTs created within SO-COL out of our platform, buyers will still be able to verify the authenticity of the NFT as well as the social account owner from which the NFT originated.
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