Microsoft’s ION Digital ID Network on Bitcoin Mainnet

Thursday, July 29th, 2021

The Bitcoin mainnet now offers Microsoft’s ION Decentralized Identifier (DID) network. What’s this? How can you be sure to find a reliable and low-cost Bitcoin merchant account?  

Microsoft’s ION Digital ID Network: Bitcoin Merchant Account 

Microsoft has introduced its ION (Identity Overlay Network) Project on the Bitcoin mainnet. It features a Layer 2 open network that doesn’t require permission to use. The operation is based on the deterministic Sidetree protocol. The latter doesn’t require any special tokens, trusted validators, or additional consensus mechanisms. All you need is Bitcoin’s timechain for it to operate. 

So, the digital verification is completed via Bitcoin Layer 2 solution in a decentralized manner. There’s no 3rd-party control. A single transaction can process 10.000 ID requests via the ION nodes. 

Instead of focusing on payments, this Layer 2 technology uses Bitcoin’s blockchain for the creation of digital IDs so that identities can be authenticated over the internet. 

Developers can use Microsoft’s special application programming interface (API) for the interaction with the service without the need to download a node or wallet. An explorer is available for looking up DIDs created on the network.

With digital payments growing rapidly, you can’t do without offering the latest payment methods to your customers. To find the right provider of merchant-processing services, including a Bitcoin merchant account for your online business, work with a payment expert like BestPaymentProviders.co.uk. 

Best Payment Providers UK is dedicated to providing merchants with the most honest review of merchant-services providers at the time of writing.  This is how you can be sure to get the best fit for your financial needs. 

Microsoft’s ION Digital ID Network Features

Be aware that ION is open source. This means you can download the code without permission and run an ION node for the application of the service. The network relies on Sidetree open-source protocol for decentralized identifiers. 

With ION, logging in to your email or social media would mean verifying your account by “signing” your DID with your ION account. ION creates cryptographic links to Bitcoin, and thanks to these links, the ION network would provide verification for the service provider that you have the ID connected with your account.

So, the Decentralized Identity team at Microsoft has developed the ION Decentralized Identifier (DID) network on the Bitcoin mainnet. This enables users to avoid passwords, emails, and cell phones for verification. Work with a reputable payment specialist that can help you with cryptocurrency transactions.