Review on Bridge Protocol by Robiul Islam
Cool project i know there is already a project name Civic but Bridge protocol…
Cool project i know there is already a project name Civic but Bridge protocol is awesome. One of the big issues with running ICO's and why it's so expensive to run an ICO is that KYC takes ton of money, bridge protocol is aiming to do is not just Neo blockchain for ICO's, ERC20 or 223 tokens on the ethereum blockchain will also have cross blockchain compatibility for verification as well and it's not just specific to Neo project so that's actually a really cool feature of this. It offers a new standard for whitelist and allows participation in multiple ICO's so you have to do one KYC and all you would do is provide your bridge key and that would give them all the information they would need to know, it's basically like an API key you can decide how much information you want to provide or how little you want it to provide, if they you just want them to know your name let them know your name, if they need to know name address i mean obviously some KYC supporting documents if you've done ICO's they can have access to that too so it builds trust so users can transact with confidence it's a trustless protocol layer on top of blockchain. The Bridge Protocol provides a Bring-Your-Own-Key (BYOK) interface to allow for user ownership of keys, data, and processes. These methods will allow for wider adoption of the network for individuals and organizations.
Updated 5 years ago
Rating changed from 5 to 3
TOLL has officially been changed to BRDG months ago, They are a small team and constantly working to maintain the service they provide. Team explored integration with browser extensions that were already compatible with nearly 1 billion users browsers. They are continue to build their marketplace there is piloting in progress. In Q3 will be focusing on enterprise growth and those companies that find utility will adopt. While their market place expands there will be other customer facing uses for token which will drive utility.
Pros
- The bridge protocol is an open distributed network of trusted machines and users promoting behaviors standards and enforcement mechanisms to provide real world value and application, the system facilitates an ability for users to deploy business processes that complied to existing standards and regulations. There are indeed a few projects out there like self key the key and the original gangster civic but this will become the defacto security protocol for the entire blockchain, revolutionary use case of having all your identity all from your own address no more sending your sensitive data to 3rd parties!
Cons
- The whole crypto space will need a standardized way to approach (know your customer and anti money laundering) Bridge Protocol does just that and has simplified the process. Bridge is working with regulators and even governments looking to become the go to for security on the blockchain!
