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 Id Community ION V1. As per the corporate, ION is a Decentralized Identifier (DID) know-how, a framework that authenticates on-line identities. Just like the Lightning Community, Microsoft’s ION is the Layer 2 know-how launched on the Bitcoin community.
Nevertheless, as a substitute of specializing in funds, it customers the Bitcoin blockchain to give attention to verifying digital identities in a decentralized method. Thus, there’s no management of a 3rd id 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 assets, signal and confirm credentials, and facilitate utility information trade. Not like conventional usernames and electronic mail addresses, DIDs are owned and managed by the entity itself (be it an individual, gadget, or firm), and exist independently of any exterior group or trusted middleman. With out DIDs, you’ll be able to’t have a vibrant, interoperable decentralized id and utility ecosystem”.
Because of this, DID’s assist customers do away with passwords, emails, and cell telephones for verification. Microsoft’s Daniel Buchner shared concerning the ION implementation on the firm. Presently, the tech large has deployed the ION node for its manufacturing infrastructure. Apart from, Microsoft can be working with different firms 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 neighborhood,” he added.
Microsoft’s ION Is Open-Supply
The Microsoft govt Buchner mentioned that ION is totally open-source. As consequence, anybody can obtain the code to run the ION node in addition to use the service. Apart from, 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 out an id, the ION open-source software program makes use of the identical logic as Bitcoin’s transaction layers. to confirm whether or not if the consumer owns an ID, ION makes use of a public key together with its related non-public key.
Thus for logging into any platform that makes use of ION, customers first must 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 superb aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Know-how and Cryptocurrency markets. He’s constantly in a studying course of and retains himself motivated by sharing his acquired information. In free time he reads thriller fictions novels and typically discover his culinary expertise.