IOTA Identity 1.1 Unveiled: Revolutionizing Digital Credentials

  • IOTA Identity 1.1 has launched, and with new features such as selective disclosure credentials, it gives users greater control over their digital identity and enhances data integrity.
  • The new version also implements StatusList2021 and builds on IOTA Identity 1.0, launched last November.

With digital identity being the foundation of the Web3 revolution, the recent release of IOTA Identity 1.1 positions IOTA at the forefront of the decentralized internet. The new version comes with new features that give users greater control over their digital identity and enhance data integrity and security.

IOTA Identity 1.1 is the latest iteration of the network’s decentralized identity (DID) and associated library. It is an upgrade on IOTA Identity 1.0, which launched on IOTA in November last year after getting an initial run on the Shimmer staging network.

Among the new features in the latest iteration is support for the Self-Describing JSON Web Token (SD-JWT). This is a JWT created by the issuer and supports selective disclosure; a user can share only a subset of the claims in the original token, rather than the traditional method where they would release all the claims to every verifier.

With the integration of the SD-JWT, IOTA Identity 1.1 will enable users only to disclose the minimum details required for the transaction at hand while preventing verifiers from obtaining claims deemed irrelevant to the transaction. This will enhance privacy and security for DID users in an era where digital identities are becoming ever more valuable.

The applications are vast; a user could, for instance, prove to verifiers that they have enough funds in their wallet to make a transaction without showing exactly how much money they have in their wallet.

IOTA Identity 1.1 also comes with support for StatusList2021. DID systems require a high-performance mechanism for publishing status information, allowing verifiers to seamlessly check whether verifiable credentials of any particular user have been suspended or revoked. StatusList2021 further offers users an easy way to revoke any compromised credentials privately and securely.

IOTA Identity—The Gateway to Web3

IOTA Identity was launched in 2018, and it leverages the unique capabilities of IOTA to integrate digital identities into existing or new decentralized applications.

Over the years, the development team at IOTA has continued to improve the identity solution, including allowing it to interact with other elements, such as non-fungible tokens.

The launch of the IOTA Identity 1.0 last November brought new features, such as the ability for alias outputs to control other alias outputs. This allows one identity to govern another, such as a large company controlling a subsidiary’s identity.

The update also gave alias outputs the ability to hold, send and receive tokens. This meant that users could send tokens to a DID without knowing the recipient’s wallet address.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

Credit: Source link

Comments are closed.