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Microsoft Rolls Out Bitcoin-Powered Identity Platform

Microsoft Rolls Out Bitcoin-Powered Identity Platform

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Source: Daily Hodle

Microsoft is launching a platform that can authenticate identities using the Bitcoin blockchain.

The tech giant says v1 of the ION decentralized identifier (DID) network is finally complete and now live.

ION is a decentralized layer 2 technology for DID, which can verify the identity of a person, or any subject, without relying on third parties such as trusted validators and centralized entities.

The technology can be used to secure access to resources, sign and verify credentials without relying on usernames, passwords and phones to confirm and individual’s identity.

“Unlike traditional usernames and email addresses, DIDs are owned and controlled by the entity itself (be it a person, device, or company), and exist independently of any external organization or trusted intermediary. Without DIDs, you can’t have a vibrant, interoperable decentralized identity and application ecosystem.”

ION relies on a node system wherein the network gains strength as the number of users increases. It is also an open and permissionless system.

“We have deployed an ION node to our production infrastructure and are working together with other companies and organizations to do so as well… Because ION is an open, permissionless system, anyone can run an ION node, in fact the more nodes in operation, the stronger the network becomes.”

Cryptocurrencies like Bitcoin (BTC) rely on the immutability of blockchain technology. ION leverages the security of the digital ledger as well, but instead focuses on confirming and authenticating digital IDs rather than transactions.

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The post Microsoft Rolls Out Bitcoin-Powered Identity Platform appeared first on The Daily Hodl.

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Author: Daily Hodl Staff