Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
According to Notifi CEO Paul Kim, users who join projects or protocol communities find it difficult to communicate among themselves, and this is what the alliance seeks to address.
A recent report has disclosed that a group of projects based on the Solana blockchain has come together to leverage open source standards to introduce crypto communication. “Open Chat Alliance” was launched on August 22 led by Solana-based protocols including Solana Name Service (SNS) provider Bonfida, Non-Fungible Token (NFT)-powered social media platform Only1, and Notifi Network.
According to Notifi CEO Paul Kim, users who join projects or protocol communities find it difficult to communicate among themselves, and this is what the alliance seeks to address. Kim believes that the communication issue violates the concept of Web3 which is known for being open source, accessible and interoperable.
According to Kim, the wallet would serve as a passport.
“You’re using your wallet as your kind of passport. And that passport has data on what you have and don’t have in your assets, ” he said.
Leon Lee, founder and CEO of Only1 believes that an example of the alliance’s framework includes the design for GameFi and NFT users to communicate among themselves without any hindrance by separate protocols, wallets, or chains.
The alliance explains that a standard of communication would be formed to ensure that projects on different chains can make use of regardless of the difference in the blockchain. In other words, Solana users can send messages to a user on Ethereum due to the interoperable standard. It is important to understand that Chainlink (LINK) has attempted to solve this issue by introducing its cross-chain system built with the intention of “inter-blockchain communications.”
Over the past couple of years, cross-chain messaging platforms have been targeted by hackers with Poly Network hit by a $600 million hack in August last year. Investigation revealed that messages between chains caused the attack. This explains why the Alliance’s framework is designed for only messaging.
“There are multiple different features as a user you can subscribe to and, depending on which feature you use, different security protocols. But at the end of the day, we’re not really interacting just yet with any of the transactions beyond just communication, said Kim.”
Kim further disclosed that the three projects behind the alliance have several projects in the pipeline. For now, they have sealed partnerships with projects based on the Solana ecosystem focusing on NFT and DeFi.
A Solana-based metaverse, Realy, has sought to integrate the framework for users to interact outside the network. Also, social data platform CyberConnect has disclosed that it would incorporate the framework to enable users to send messages other than just viewing friends’ profiles.