In the past, people have been forced to rely on a centralized account system when they wanted to build a business. This was not only risky but also dangerous because it meant that most of the money would be stored in a single place where it could be easily stolen by hackers or even lost if there is a natural disaster.
There is a new trend within cryptocurrency markets that is growing exponentially as we speak. Decentralized Account System (DAS) as it is known, exists on the blockchain and offers an alternative to Centralized accounts.
Developed on Nervos, DAS (Decentralized Account System) is a new alternative to Centralized Account Systems (CAS) such as cell phone numbers, emails and social accounts. Decentralized and compatible with all Public Chains, this future-proof account system is quickly raising ranks.
- What are Decentralized Account Systems (DAS)
- Decentralized Account System Applications
- Building a website like “alice.bit.cc”
- Advantages of Decentralized Account Systems
- Central Components of DAS
- DAS annual charges
- DAS Accounts
da. systems bestows a globally unique account system by using the .bit suffix and has solid cross-chain capabilities. DAS (in other words, da.systems) is a Decentralized Application that is developed on CKB which is partnered with Nervos.
The da.systems public beta version opened on June 10th, 2021 and from then, garnered a large number of participants across the globe. Through the course of 20 days, the number of registered identities surpassed 40,000, featuring 30,000 unique Owner addresses. This is a relatively new project as DAS’ seed funding round led by HashKey and SNZ with investors SevenX and Nervos Foundation just finished on June 21. da.systems has been open for public registration from July 21 for .bit.
Basically, the prominence of DAS in the crypto world is similar to how important emails are for the Internet. As of now, DAS is listed in SafePal, imToken, Math Wallet, TokenPocket, Huobi Wallet, HyperPay, BitKeep, ONTO Wallet, ViaWallet, and AToken. da.systems has also integrated with Huobi Wallet, mibao NFT, imToken and TokenPocket as well as partnered with WePiggy.
DAS has many use cases. Some of them are –
- When someone has to transfer some crypto assets to a wallet, they have to type the entire public key, which is quite tiresome, especially if you make a mistake. So, with DAS, we can create a .bit address for multiple accounts and to avoid confusion between these accounts, we can even label them!
- Das can also be used to provide information about our address and we can link our social media accounts to it.
DAS is a growing project and is yet to grow. Some features that DAS will enable soon are –
- DAS may be used to generate a secondary account. For instance, the holder of “coinbase.bit” can construct “bob.coinbase.bit” as a mark of authority and to allow “bob” to replenish his Coinbase account without having to locate his address in Coinbase.
- People who use DAS can also use it as a website to access their services.
- DAS can also be used as a portal for secure communication with each other without the fear of others watching them.
- It can also be used to login into other services without entering a password.
Did you know that you could also build a cool website in really easy steps?
The hot lucky box game is used by DAS. Nobody can really know about all the accounts that are registered. Whenever you browse for an account in the DAS App, only then you’ll find out whether it’s open for registration or not.
Go to the DAS App from their website and search for the name. It should show “Available” if it is available. You then have to register the name you want, like “alice.bit”, and you’ll automatically have the website “http://alice.bit.cc”. By default, the content of the site is your DAS account information. All you’ll have to do later is just change the content which will automatically take effect in under 5 minutes.
Private keys for ETH and TRON are only supported in the present implementation, with plans for more weight in future. da.systems also plans to add “one-click login to DApps, encrypted communication conversations and VIP identification” later on.
- Compatible with all public chains
- Open Source
- Personalized and Unique
- Full control
The five central components of da.systems as from its website are –
- Core Protocol
The series of Lock Scripts and Type Scripts situated on the Nervos CKB are the concrete implementations of the DAS core protocols which expound the accounts and related operational standards for DAS accounts.
By running a Keeper, you can earn system rewards by triggering a series of transactions that conform to the core protocol. Basically, Keeper is a set of programs that can be run by anyone.
- Resolution Service
This basically provides account resolution service in the form of an interface to the public. Another thing is that it also resolves the global state of DAS based on the transactions on Nervos.
- Client SDK
The SDK is the Software Development Kits in various languages which simplifies the integration of DAS-related applications.
- DApp UI
The UI is the User Interface or the various features of DAS throughout a variety of application interfaces which can be used in the browser. These can also be integrated into wallet softwares.
- Payment Gateway
US Dollars or CKByte fees are associated with certain operations. But now, users can pay in major digital currencies thanks to the Open Transaction (OTX) feature of CKB. This component is available for anyone looking to implement their own versions according to the protocols of the Core Protocol.
- Governance System
The Governance System is just community driven which is the ultimate goal of Decentralized Account Systems. Here, the community can govern da.systems through this system, i.e. including new feature additions or any other.
Depending on the length of your account, the prices will be calculated.
Following are the pricings:
- 5 digits or more = $4.99/yr * registration period time + Storage Deposit (206 CKB)
- 4 digits = $160/yr * registration period time + Storage Deposit (206 CKB)
- 3 digits = $660/yr * registration period time + Storage Deposit (206 CKB)
- 2 digits = $1024/yr * registration period time + Storage Deposit (206 CKB)
We can get a 5% discount if we fill in the invitee (x095). Also, the Storage Deposit will be returned to us after we stop paying. If someone registers with our invitation link, then 10% of the registration cost that the invitee pays will be credited to our account as CKB. These invitation bonuses that we earn will be visible in DAS’ reward section.
Decentralized accounts are the primary components of da.systems, which is a cross-chain decentralized identity system. A DAS account has the following technical characteristics:
- It can be made anonymously by anyone, but once created, it cannot be erased.
- After the owner of the account stops paying, a new user can buy it. So, we have to be careful to check whether we’re transferring to the right person.
- Despite the fact that da.systems is based on CKB, users are not required to have a CKB wallet or a CKB address in advance. They don’t have to pay in CKB to use it, either.
- For easy integration, da.systems includes SDKs for a variety of programming languages.
- Naturally, any public chain doesn’t need to modify it to use DAS, as it’s based on the public chain of CKB.
- DAS is simple to read and simple to write.
When technology is thriving in light years, we definitely need to get our niche in the crypto market, especially in such a phenomenal project like DAS. It introduces a new functionality that simplifies the crypto world as we know it today.
At the DigitalWalletsNews (DWN), we collaborate with young and tech savvy minds to research and share the latest news, trends and probable directions of one of the fastest growing ubiquitous industry of financial payments via digital wallets and cryptocurrency. We hope these information are very helpful in keeping up-to-date with the explosive growth in this sector.