Microsoft has announced the completion of ION v1, a Decentralized Identifier (DID) know-how, in accordance with a press launch despatched to Bitcoin Journal. The know-how permits the identification of an entity with out being managed by a 3rd get together, as usernames and passwords on servers and could be thought of a Layer 2 know-how constructed on prime of the Bitcoin blockchain.
“A DID identifies any topic (e.g., an individual, group, factor, information mannequin, summary entity, and so on.) that the controller of the DID decides that it identifies,” states documentation on DID technology in general.
ION depends on a node system, and, in accordance with the press launch, will get stronger because the variety of individuals will increase. The system is permissionless and anybody can run a node.
The ION website explains, “ION is a decentralized Layer 2 community for Decentralized Identifiers that runs atop the Bitcoin blockchain. Operating an ION node minimizes belief in exterior events for resolving ION DIDs, helps make the community extra resilient and dependable, and offers the operator with higher DID decision efficiency.”
The undertaking seems to have had appreciable developmental firepower behind it, with Casa, Gemini and BitPay amongst a number of others being listed as contributors to its Sidetree protocol, per the discharge. Anybody is now free to implement the ION DID know-how of their purposes and providers; the undertaking is open supply, designed to be scalable to 1000’s of operations per second, in accordance with the press launch despatched to Bitcoin Journal.
A significant step towards decentralizing identification, it’s also an indication of a eager curiosity in Bitcoin by Microsoft. DIDs could have a serious impression on the business if a big community of entities using the system kinds.
“For us, Bitcoin ws a needed situation for achievement,” undertaking lead Daniel Buchner instructed Bitcoin Magazine in 2020. “After we began crunching the numbers, we realized that Bitcoin was the one chain that will in all probability be too pricey to assault.”