Veridian, a platform that will help advance decentralized identity switch has launched, powered by the Cardano Foundation, the founding entity behind the ADA coin.
Cardano Foundation has developed an open-sourced digital identity platform called Veridian. It announced this development on April 3 as it seeks to expand its influence in the broader blockchain ecosystem.
Cardano Veridian and an Accompanying Complementary Wallet
According to the Foundation, Veridian, which utilizes open-source “key event receipt infrastructure” (KERI), is intended for individuals and organizations.
Apart from KERI, this newly launched platform also uses decentralized identifiers and “authentic chained data container” (ACDC) credentials to verify identities and authenticate online communication.
Cardano Foundation’s head of decentralized trust and identity solutions, Thomas A. Mayfield suggested that Veridian was launched to give users full control over their identity. In his opinion, users’ identity should be “secure, authentic and under your control.”
In addition, “With Veridian it is now possible to build quantum resistant, globally interoperable, enterprise-grade solutions for individuals and organizations,” Mayfield added.
The new open-source platform competes with World and Humanity Protocol and other blockchain-based digital identity projects in the sector. The other two platforms gather individuals’ biometric data to prove their humanity. The Cardano Foundation ordinarily supports the development of Cardano. With Veridian, the Layer-1 blockchain is guaranteed an additional trust layer.
Cardano Foundation also rolled out Veridian Wallet alongside the open-source digital identity platform. The wallet allows users to manage their credentials, private keys, and identifiers.
Strategy Launches Decentralized Identity Platform
About six months ago, Strategy, formerly known as MicroStrategy, announced the launch of Orange, its decentralized identity platform.
According to MicroStrategy founder Saylor, “MicroStrategy Orange aims to redefine the landscape of digital identity by harnessing the untampered security and widespread recognition of the Bitcoin network.”
The system utilizes a modified version of the Ordinals inscription method that embeds data within the Bitcoin blockchain transaction outputs. This capability differentiates it from traditional blockchain-based identity solutions, plus Orange operates directly within the Bitcoin blockchain, harnessing its inherent security and stability.
Saylor claimed that MicroStrategy Orange can handle as many as 10,000 decentralized identifiers (DIDs) in one transaction. Also, it follows the W3C’s Decentralized Identifiers (DID) standard, ensuring reliable, tamper-resistant digital identities based on an unofficial draft of the MicroStrategy Orange system on GitHub.
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