DOT Technology is a multilayer Web3 infrastructure which allows for digital identities to be created, updated, and utilized. The primary and core layer of DOT Technology is the identity layer. The identity layer is made up of Digitally Optimized Twins or DOTs. These DOTs are on-chain “accounts” that aggregate components of an individual’s existing and forthcoming digital identities
The next critical layer to DOT Technology is the Asset Layer. The asset layer hosts the DOTs’ non custodial wallets and all they hold. The most unique aspect of the Asset layer is that it utilizes tokens and NFTs not only as financial tools but also as a way to provide proof of access to information on the data layer.
Next we have the data layer. The data layer utilizes SKALE on-chain storage solution to host DOT files, personal data, and preferences. Access to this layer of DOT Technology is only possible by having an existing DOT with either:
1. Proof of Ownership from the Identity Layer
2. Proof of Access from the Asset Layer
Finally, the Utility Layer. The Utility Layer of DOT Technology consists of Web3 smart contracts that allow a DOT Owner to utilize the prior three layers for their desired outcome.
Your DOT is responsible for managing the different components that represent your digital identity. Every individual is entitled to one unique DOT just as one individual is entitled to one unique identity in the real world. Your DOT provides you with:
1. Storage of personal information
2. Computing Power
3. Integrations to 3rd party services
A DOT is a direct correlation to your presence on the internet. The more you use it, the more it matures and increases in value. Maturity happens in a simple gamified nature. A DOT gains experience and increases in level over time. These numbers are a gauge for individuals to understand how strong their digital presence really is. Additionally, maturing a DOT also rewards individuals in the form of Lilicoin. Many of the services within MyLilius directly reward individuals with Lilicoin for using them. The more valuable a DOT, the more Lilicoin will be earned.
Currently, DOT Technology does not rely on any centralized services. From storage to computations everything happens on-chain or on the client. As we move forward we will continue to decentralize the DOT experience by supporting more blockchains. In the future, there may be a use case where a centralized service is necessary to connect with a Web2 service. However, will continuously explore options to keep DOT Technology 100% decentralized.
The next component of DOT Technology is on-chain storage. Individuals can use their DOT to store files on-chain for continuous access. When on-chain storage is used, an individual's DOT is assigned as the owner of files they create. Through their DOT they are able to govern who has access to their data. Even allowing individuals to set dynamic access terms and create NFTs that offer revocable or irrevocable access to their data. Additionally, with the DOT owner’s permission, dApps using DOT Technology will be able to access on-chain data to provide personalized experiences within their projects.
When an individual creates a DOT they automatically create a non-custodial wallet for the supported networks. This wallet lives on the SKALE network and has the functionality to store, send, receive crypto and NFTs.
DOT Technology has a built-in directory called DOT Name Service (DNS). The DNS allows individuals to interact with a specific DOT or Smart Contract. These actions include but aren’t limited to:
1. Locating the associated public address for a specific token on a specific blockchain for this DOT
2. Viewing data made public by the DOT Owner
3. Entering into a collaborative relationship with the DOT Owner
The Web3 space is growing fast and there are a variety of wallets available across many networks. MyLilius offers individuals a unique way to interact with Web3. The core should be familiar to long-time users, however, little tweaks, modified core features, and unique customization options have resulted in a wallet that is both similar, yet extremely different from the existing solutions on the market.
Digital assets whether Web2 or Web3 are meant to be usable in a variety of environments. Whether working with NFTs on Ethereum, sending Bitcoin to a friend, or receiving money through Venmo; individuals always have access to their digital assets through MyLilius.
The MyLilius Wallet is a non-custodial wallet regardless of the Web3 network. All blockchain related keys are stored securely on the device. All keys on the device are encrypted and stored separately. All keys and seed phrases are only viewable with a password.
MyLilius is also actively exploring non-seed phrase related solutions and integrations. Let us know if you are building one!
All cryptocurrency wallets available on the market share three basic functionalities: View, Send, and Receive. Within those three core functions many wallets have added name service support, automatic swapping, and even staking of certain coins. However, when looking at mainstream adoption the lack of focus on connection is an existing flaw in Web3. The MyLilius Wallet is leading Web3 mainstream adoption by coupling an individual's digital identity with their wallet. This unique feature allows for individuals to utilize data that is important to them in the same place that they can utilize their digital assets