Moca Foundation today announced that it will launch Moca Chain, a Layer 1 blockchain built specifically for identity and user data. Moca Chain will supercharge and support the development of identity protocols in respective industry verticals including DeFi, GameFi, AI apps, and beyond.
Moca Foundation to release Moca Chain, an L1 for identity and user data
Moca Chain, a new-gen L1 blockchain network specifically tailored for identity data processing, is set to be launched by Moca Foundation, an official statement says. Moca Chain testnet and mainnet releases are expected to follow in Q3 and Q4 2024 respectively.
Moca Chain will allow on- and off-chain user data to be verified via any applications on any chains through its decentralized data storage, cross-chain identity oracle, web proof data generation (zkTLS), and on-chain verifications.
It will operate as a modular, EVM-compatible chain, working interoperably with other chains to provide the identity and data layer for partners and adopters. Moca Chain will utilize MOCA Coin as the core token for gas, validator staking, storage, oracle, data generation, and verification fees.
Yat Siu, co-founder and executive chairman of Animoca Brands, expects new protocol to on-board next cohort of app builders and Web3 enthusiasts:
Billions of users today go online using single sign-on (SSO), which contains the keys to a user’s data, services, and digital lives. While convenient, SSO represents a centralized point of failure that compromises security while also allowing operators to aggressively extract value from users’ digital selves (...) In conjunction with Moca Network’s AIR Kit, Moca Chain is creating a digital ecosystem where users can finally own their data, reputations, and contributions. This aligns strongly with the mission of Animoca Brands to advance digital property rights and empower individuals to control and benefit from their online activities and their personal data
He also stressed that Moca Chain seeks to solve self-sovereign authentication problems by giving users decentralized true ownership of their data, ensuring the integrity of users’ digital identity without a single point of failure.
Giving back control over identity data to apps users
Kenneth Shek, project lead of Moca Network, echoes the words of Mr. Siu and shares his ambitions on new blockchain release:
Moca Chain and AIR Kit are a one-of-a-kind infrastructure for verified identity data to empower consumer apps and their users. By adopting Moca Chain and MOCA Coin, we believe we can disrupt current models of data ownership and break down the dominance of walled garden ecosystems, returning value to the users who generate it and making ecosystem growth more scalable
Moca Network is the identity ecosystem of Animoca Brands. As one of the launch partners of Moca Chain, Moca Network is committed to growing Moca Chain’s ecosystem and advancing the adoption of Moca Chain.
Moca Network’s AIR Kit is integrated into offerings by various partners including Animoca Brands portfolio companies, partners, and affiliates, estimated to reach over 700 million addressable users. Protocols and applications built on Moca Chain will be able to gain access to the user networks and data of AIR Kit adopters, including SK Planet’s OK Cashbag (28 million KYC’d users) and One Football (over 200 millions users).
Current use cases include Healthcare (unified electronic health records verifiable across healthcare providers), Recruitment (verified education credentials and training history), Finance (privacy-preserved KYC/AML), and Advertising (unified user data across apps for verified user onboarding).
U.Today Editorial Team
Vladislav Sopov