This news is incredibly important not only for Bitcoin but for the entire cryptocurrency community as a whole. Wednesday, may 16 at 9:10 am, Microsoft will present the world “Decentralized identification for decentralized world.”
During this presentation, Microsoft has teamed up with Sovrin, Blockstack and uPort will tell you why the world needs a decentralized identities.
The idea is that people become the sole owners of information about their identity, and did not use the services of corporations to hold the data. This is a very big industry, which revolve millions of dollars of expenses for corporate costs, security, customer service, etc.
Decentralized identity system, Microsoft will use technology Lightning Network:
“To support the huge number of users, organizations and devices, the underlying technology must be able to scale to work on par with traditional systems. Some blackany ([BTC], [E TH], [L TC]) provide a solid Foundation for the implementation of the IDs DID, write operations DPKI and fixation certifications. Although some blockchains and increased throughput transactional network (for example, increasing the block size), this approach usually worsens the decentralized state network and will not be able to make millions of transactions per second that the system will generate on a global scale. To overcome these technical barriers, we work with decentralized Layer 2 protocols that run on top of these blockchains”
Obviously, the main contender for this role is the bitcoin blockchain with the decision of the lightning network. Confirmed it and the lead developer of Microsoft, Daniel Buchner in his Twitter account:
“I was invited to the Bitcoin community its a good friend of Mozilla in 2011. In the same year I started working on a proposal called the “Handshake of Firefox “, which became the forerunner of the applications based on decentralized ID. In may 2018, we are witnessing a turning point in the adoption of cryptocurrencies”
Release identification from Microsoft based on the Bitcoin blockchain will increase the confidence of the world community and institutional structures, and prove that Bitcoin is still the leader among cryptocurrency is the most reliable blockchain.
Daniel Buechner suggests that the system is close to release:
“@shanselman, you know that we are the company that used Bitcoin as one of the fundamental elements in a decentralized system of identification of people at all levels. And I’m not talking about Blockchain technology in General, I mean that we use real blockchain — blockchain Bitcoin!”.