The ION community makes use of Bitcoin Layer 2 answer to confirm digital identities in a decentralized method with out counting on any third-party management. The ION nodes can course of 10,000 ID requests in a single transaction.
On Thursday, March 25, tech large Microsoft Corp (NASDAQ: MSFT) introduced the completion of its Digital Identification Community ION V1. As per the corporate, ION is a Decentralized Identifier (DID) know-how, a framework that authenticates on-line identities. Much like the Lightning Community, Microsoft’s ION is the Layer 2 know-how launched on the Bitcoin community.
Nonetheless, as an alternative of specializing in funds, it customers the Bitcoin blockchain to concentrate on verifying digital identities in a decentralized method. Thus, there’s no management of a 3rd identification since usernames and passwords aren’t saved on any servers. The official documentation of DID’s states:
“DIDs are identifiers that can be utilized to safe entry to sources, signal and confirm credentials, and facilitate software information trade. In contrast to conventional usernames and e-mail addresses, DIDs are owned and managed by the entity itself (be it an individual, machine, or firm), and exist independently of any exterior group or trusted middleman. With out DIDs, you possibly can’t have a vibrant, interoperable decentralized identification and software ecosystem”.
Because of this, DID’s assist customers eliminate passwords, emails, and cell telephones for verification. Microsoft’s Daniel Buchner shared concerning the ION implementation on the firm. At the moment, the tech large has deployed the ION node for its manufacturing infrastructure. In addition to, Microsoft can be working with different corporations serving to them to do it.
ION doesn’t depend on centralized entities, trusted validators or particular protocol tokens. ION solutions to nobody however you, the group,” he added.
Microsoft’s ION Is Open-Supply
The Microsoft government Buchner mentioned that ION is totally open-source. As outcome, anybody can obtain the code to run the ION node in addition to use the service. In addition to, it additionally makes use of Sidetree, one other open-source protocol for decentralized identifiers. Sidetree has been developed by builders from Consensys, Microsoft, Mattr, and Transmute.
To log off an identification, the ION open-source software program makes use of the identical logic as Bitcoin’s transaction layers. to confirm whether or not if the person owns an ID, ION makes use of a public key together with its related personal key.
Thus for logging into any platform that makes use of ION, customers first have to confirm their accounts by “signing” their DIDs with their ION account. It does this by forming cryptographic hyperlinks to the Bitcoin community. The ION community principally verifies the service supplier that customers personal together with the ID related to their account.
Bitcoin’s blockchain makes use of the InterPlanetary File System (IPFS) protocol to retailer any private information tied to the ID, off-chain. In a single transaction, the ION nodes can course of round 10,000 ID requests.
Bhushan is a FinTech fanatic and holds a great aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Expertise and Cryptocurrency markets. He’s repeatedly in a studying course of and retains himself motivated by sharing his acquired information. In free time he reads thriller fictions novels and generally discover his culinary abilities.