The IOTA development team has announced that its Digital Identity (DID) method is now resolvable via the Decentralized ID Universal Resolver. The latter comes from the Decentralized Identity Foundation (DIF), an organization that develops open standards and frameworks for decentralized identity systems, enabling secure and user-controlled digital identities.
The integration makes it easier to add IOTA Identity to new and existing applications, improving its usability and adoption on different platforms.
IOTA’s digital identity platform aims to serve individuals, organizations, and devices by providing a unified layer of trust. The system empowers users to control their data sharing, offering a more secure and private online experience devoid of usernames, passwords, and the risk of data breaches. For organizations, IOTA Identity offers compliance with GDPR, reduces the need for storing personal information, and lowers onboarding costs through secure, user-controlled data.
IOTA is a distributed ledger technology designed to securely connect devices and transfer data without fees. It uses a unique network called the Tangle, which is different from traditional blockchains thanks to its Directed Acyclic Graph (DAG) structure for transaction validation, which enables fee-less, scalable, efficient micro-transactions without the need for miners.
Furthermore, IOTA extends trust to devices, enabling secure interactions and transactions based on verifiable identities. It’s an approach that leverages cryptography and verifiable credentials to ensure tamper-proof systems, enhancing security and reliability. The integration of IOTA Identity supports the concept of digital twins – virtual representations of physical objects – which can enable predictive maintenance and new service offerings.
The adoption of the IOTA Digital Identity method is growing as various government institutions and organizations worldwide explore decentralized identity solutions. Taiwan’s semiconductor hub is reportedly discussing implementing these solutions, while the IOTA Foundation is engaging with the German government, the EU, and other regional entities to promote the use of its DID solution.
Source: Crypto News Flash
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May 27, 2024 – by Ali Nassar-Smith
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