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8. Breaking Into On-Chain ID Concept
On-chain ID is the primary social token used by Candao. When you join the community, you'll receive a unique NFT (non-fungible token) that contains information about your Candao profile. This ID identifies your wallet but you can upgrade it to higher levels of authentication in the future.
All the data provided for your NFT ID is securely converted to hashes and stored on-chain, and you have complete control over it. You can delete any of the information at any time, and the ID will be downgraded to the appropriate level.
In other words, an on-chain ID is a non-transferable and non-saleable token permanently embedded in the wallet. The only purpose of these tokens is to identify you as a person across all the wallets you own, and with that, you will have a single account without the need to worry about fake accounts.
Back on track, your NFT ID is unique and distinguishes you from everyone else, even if two IDs have identity verification data. The public account panel for NFT ID provides viewers with a visual and statistical summary of your on-chain metrics, such as the value of your digital assets, the list of transactions, and the most significant single transaction.
Additionally, Candao associates each NFT ID with on-chain meta-scan activity, allowing anyone in the Candao ecosystem to view all the historical on-chain transactions performed by the wallet associated with the NFT ID, regardless of the chain integrated with Candao (such as Ethereum, Binance Smart Chain, Polygon, etc.).
In short, NFT On-chain ID is the key to accessing and managing your profile and digital assets on Candao, while also giving you complete control over your data and privacy.