Microsoft Decentralized Identity Network Begins Beta Phase on Bitcoin Network June 11, 2020 June 11, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsJune 11, 2020 by Kelly Cromley

Microsoft Decentralized Identity Network Begins Beta Phase on Bitcoin Network

ION-Microsoft’s decentralized identity network-has begun its beta phase on the Bitcoin network, following its launch in May.

Yesterday, Daniel Buchner, Microsoft Identity division’s program manager, revealed the launch of open source, layer 2 Identity Overlay Network (ION).

The intention is to offer users with a decentralized identifier (DID) that could substitute the necessity for usernames.

Built in combination with the Decentralized Identity Foundation, ION was built as a decentralized network to function on a standalone basis and does not depend on “special utility tokens, trusted validator nodes, or additional consensus mechanisms.”

Buchner further stated “The core promise of DID technology is to empower all individuals and entities with ownership and control over their identities, which aligns well with our mission of empowering every person to work, play, and achieve more. To deliver on that promise, we have chosen a different path from some of the more centralized approaches to DID technologies—and we believe ION exemplifies that choice.”

Microsoft has not yet created a publishing date for the ultimate variant, but stated that it would be working to strengthen the covenant and enhance the ION adoption in the months ahead.

It can be remembered that Microsoft had rolled out a state-of-the-art Azure Blockchain Service in addition with Azure Blockchain Development Kit for the Ethereum blockchain.

Microsoft is not the only enterprise which has understood the potential of DID technology. ConsenSys is using blockchain agnostic covenant Ethr-DID for developing native DID, rather than Microsoft’s SideTree.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.