Moca Network, the identity ecosystem of the Web3 Investment Giant Animoca Brands, plans to introduce a Layer-1 Blockchain It allows web3 projects to identify and verify users without having to rely on centralized platforms.
The MOCA chain will make it possible to verify user data by applications across any blockchain, similar to the way, single login platforms such as octa and Google login work in the web2 environment.
The test network is expected to start working in the third quarter with mainnet after the end of the year, the Moca Foundation said in a Wednesday email. The native token of the project, MOCA, will be used for validator tackle, storage, data rating and verification fees. Moca rose over 6% to approx. $ 0.077 in the two hours after the message.
Moca Network is a flagship project of Animoca brands, fully staffed by Animoca staff, a spokesman Coindesk said in a telegram message. It reflects its central role in the Animoca brands’ investment strategy to promote digital property rights through web3 projects using non-funny symbols (Nfts) and MEMECOINS. Ownership of one’s personal data is integrated into it, according to founder Yat Siu.
“The Moca chain creates a digital ecosystem where users can finally own their data, reputation and contributions,” he said. “This is strongly in line with the Mission of the Animoca brands to promote digital property rights and allow individuals to control and take advantage of their online activities and their personal data.”
