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IoTex Head of Cryptography Explains What DIDs Add to Blockchain By CoinQuora

by Mike Robinson

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IoTex Cryptography Head Explains How DIDs Contribute to Blockchain
  • IoTex’s head of cryptography published an article about decentralized Identity (DID)
  • He explained the reasons DID for IoT is going to make smart machines one of the most important users blockchain.

IoTex is a distributed platform which connects data and devices to the blockchain.

Xinxin Fan, the head of cryptography at the company, has published an article about why intelligent machines will be the biggest users of blockchain. More so, the article is called “Accelerating Adoption — What DIDs Add To The Blockchain Ecosystem.”

DID stands for digital identity and allows individuals to identify themselves as organizations, individuals or devices. The article states that these IDs prevent fraud simply by verifying an identity and not needing access to the underlying data.

The team also stated that the IDs can unlock all sorts of innovation in enterprise as well as consumer applications by increasing interoperability and not compromising security.

Xinxin Fan also stated,

As part of my ongoing research, I’ve been focused on building a shared standard. It could be used to build the Identity of Things on the blockchain. We will unlock the potential for blockchain interoperability between people, devices, and platforms as our community creates a framework.

Fan gave more examples where DIDs can be used. These include DIDs & medical supply chains, DIDs & mobility, DIDs & DeFi for machines and DIDs / insurance.

Continue reading on CoinQuora

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