Daniel Buchner, Senior Product Manager for Decentralized Identity Products at Microsoft, has confirmed the launch of ION, a decentralized identifier (DID) network on the Bitcoin blockchain.
In an article on the company’s blog, Daniel Buchner said that after four years of development, the ION solution was finally released. It is a second tier solution on the Bitcoin blockchain that stores DID and DPKI (Decentralized Public Key Infrastructure) and is scalable.
DIDs can be used to securely access resources, login and verify users on platforms, as well as to ensure data exchange between platforms. In this case, the user himself manages his identifier and can delete it at any time.
“We have deployed an ION node on our infrastructure and are working with other organizations to do the same. ION does not rely on centralized structures, trusted validators, or special tokens – it only responds to the community. It is an open system, so anyone can start their own node, and the more nodes there are, the stronger the network, ”the article emphasizes.
The ION solution is connected to IPFS decentralized file storage and does not require additional consensus mechanisms. Moreover, it is capable of processing “tens of thousands of transactions per second.” The choice of the Bitcoin network was due to security – the blockchain of the first cryptocurrency does not allow changing records, and the cost of attacking it is extremely high.
As a reminder, testing of the ION solution on the Bitcoin blockchain began in mid-2020.
