On Universal Profiles by Lukso: the new On-chain Identity Paradigm?

This article introduces the concept of Universal Profiles (UPs), created by Lukso.

UPs are a new standard for on-chain identity, abstracting the complexity and enhancing the user experience (UX) of blockchain interactions. This responds to the growing need for a better UX, heightened security measures, and best practices to interact with crypto.

We’ve all been there, trying to onboard our friends into crypto: just download Rabby, then sign up for an exchange, complete KYC, deposit some fiat, buy some crypto, and then send them to your wallet so you can interact with dApps.

And no wonder most of them give up.

As dApps evolve multichain, the need for tools that enable a seamless experience within DeFi becomes fundamental.

Beyond the Money

The realm of crypto extends beyond financial transactions.

Let’s consider the concept of on-chain identity, for instance.

Despite advancements in other areas, the way we interact with dApps through wallets is still the weakest link of the chain.