The Rise of Credentialing-as-a-Service

On-chain credentialing is poised to become the de facto way for users to represent their digital identity in the Web3 ecosystem. While most on-chain credentials are issued by native protocols like ENS, Mirror, or Rabbithole, a new category of credential issuers is quickly emerging: Credentialing-as-a-Service (CaaS) providers. These protocols help protocols leverage existing API and infrastructure to quickly distribute on-chain credentials. Recent data highlights the stunning speed at which they’ve caught up – and even surpassed – the leading native credential issuers today. If decentralized social becomes a major application for Web3, then these participants will no doubt play a key role.

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