Home News Blockchain Microsoft to Launch Decentralized Identity Network Upon Bitcoin Blockchain

Microsoft to Launch Decentralized Identity Network Upon Bitcoin Blockchain

May 14, 2019 15:41
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Tech giant, Microsoft announced that it was all set to launch its own decentralized identity network, which will be built on top of the bitcoin blockchain.

On Monday, Alex Simons, a member of the Microsoft Tech Community said, “Today, we’re announcing an early preview of a Sidetree-based DID network, called ION (Identity Overlay Network) which runs atop the Bitcoin blockchain based on an emerging set of open standards that we’ve developed working with many of our partners in the Decentralized Identity Foundation. This approach greatly improves the throughput of DID systems to achieve tens-of-thousands of operations per second.”

He added, “I’ve asked Daniel Buchner, a program manager on my team who works on standards and open source solutions, to present our latest contributions in this area. His post introduces another major component we’ve been developing—in collaboration with other members from Decentralized Identity Foundation ( Decentralized Identity Foundation (DIF)—to create a scalable foundational layer for decentralized identity systems.”

Buchner said, “ION is a public, permission-less, open network anyone can use to create DIDs and manage their Public Key Infrastructure (PKI) state. ION is designed to deliver the scale required for a world of DIDs, while inheriting and preserving the attributes of decentralization present in the Bitcoin blockchain. The code for the ION reference node is still under rapid development, and there are many aspects of the protocol left to implement before it is ready for testing on Bitcoin mainnet.”

This isn’t Microsoft’s first tryst with blockchain. In November last year, the company announced that it was launching its blockchain development kit. The development kit contained various samples in areas it would cover namely: Connecting interfaces to the blockchain, DevOps for smart contracts, Integrating legacy tools, systems, data and protocols and accelerators.

Earlier this year, Crypto-News India had covered the possibility of Microsoft introducing blockchain. Different companies (including some Indian companies such as Larsen and Turbro, Tech Mahindra,) were reportedly a part of this mission, although there has not been any report on that front since.

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