Microsoft Builds Decentralized Identity Network Atop Bitcoin Blockchain

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Microsoft is building a decentralized identity (DID) network atop of the bitcoin blockchain, the tech giant announced on May 13.In a blog post, the company said the infrastructure, known as the Identity Overlay Network (ION,) is based on an evolving set of open standards developed in conjunction with the Decentralized Identity Foundation.Microsoft claims its approach addresses throughput issues that mean “the most robust, decentralized, public blockchains operate at just tens of transactions per second, nowhere near the volume a world full of DIDs would demand.” By contrast, the company says its approach means tens of thousands of operations can be achieved per second. In explaining the rationale behind ION, the blog post added:“We believe every person needs a decentralized, digital identity they own and control, backed by self-owned identifiers that enable secure, privacy preserving interactions. This self-owned identity must seamlessly integrate into their lives and put them at the center…

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