Microsoft has announced the launch of an updated feature that verifies online identities on the Bitcoin mainnet. The Decentralized Identifier (DID) is called ION v1 and allows the validation of someone’s identity without the requirement of passwords and usernames.
This technology has been available for some time, and it is finally open source after being in closed beta since last year.
“We are excited to share that [version 1] of ION is complete and has been launched on Bitcoin mainnet. We have deployed an ION node to our production infrastructure and are working together with other companies and organizations to do so as well. ION does not rely on centralized entities, trusted validators, or special protocol tokens. ION answers to no one but you, the community,” Microsoft’s Daniel Buchner declared on a post.
What is ION?
ION depends on a permissionless node system, where anybody can download a code and run one. The bigger the quantity of nodes gets, the stronger ION becomes.
“ION is a decentralized Layer 2 network for Decentralized Identifiers that runs atop the Bitcoin blockchain. Running an ION node minimizes trust in external parties for resolving ION DIDs, helps make the network more resilient and reliable and provides the operator with better DID resolution performance,” the ION guide explains.
Utilizing the InterPlanetary File System (IPFS) protocol, ION’s IDs are stored on Bitcoin’s blockchain. ION nodes can run 10,000 ID requests in each transaction.
Users are allowed to create and handle numerous IDs with a different key for each utility that can also be used to log into your email and social media.
Do you have an interest in investing in crypto? Book a call, and we will give you all the information you need to succeed in digital currency!
