Microsoft launches beta testing of decentralized identity network based on Bitcoin blockchain

The decentralized identity network the tech giant Microsoft announced in May has now launched in beta on the Bitcoin blockchain.

Microsoft’s Bitcoin-based decentralized identity tool, ION, just went live with a beta version on mainnet.

Microsoft has launched the core ION network in beta with the main goal of decentralized identity identification. The developed solution is based on Bitcoin blockchain, according to the company’s blog. ION is a second layer network with its own node structure and open source code. Its launch was announced by Microsoft in May 2019.

Christopher Allen, co-founder of the Working Group on Decentralized Identification (DID) of the World Wide Web Consortium, said then that thanks to the widespread use of Microsoft products in the corporate environment, the ION solution could potentially change the entire technology industry.

“ION is one of the fundamental components of the next generation of online trust. With the help of blockchain, ION is decentralizing the method of encrypting and exchanging messages and application data.”

Similar to signing transactions on a Bitcoin network, a DID is proof of ownership. Individual ION nodes will be responsible for monitoring the DID and entering time stamps into Bitcoin blockchain.

Since the managed ION identifiers are decentralized, access to account-related services, e.g. in social networks, will be preserved if the user account is deleted. All pictures published in the profile will belong to the user and not to the social networks. The project also includes the hardware node manufacturer Casa, BitPay processing service, Gemini cryptocurrency exchange, Fold payment solution developer and several other companies. The final release of ION v1 is being prepared for autumn 2020

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Andrey Costello

Andrey Costello

Bitcoin-maximalist. Optimistic family man and miner with six years of age. I write about complicated things from the future for people of our days.