Cardano Foundation Floats Veridian; A New Digital Identity Platform

The Cardano Foundation has created Veridian, a platform that lets people and businesses control their online identities. Instead of centralized systems that store personal data, Veridian uses blockchain technology to keep identities safe and private. Veridian also adds an extra layer of security to Cardano’s blockchain, helping to make Cardano a top choice for secure digital identities and expanding its use in the real world. How Cardano Veridian Works Veridian is built using three important technologies. The first is Key Event Receipt Infrastructure (KERI), which keeps digital identities safe without depending on a central authority. The second, Decentralized Identifiers (DIDs), gives people and organizations unique digital identities to prove who they are online. The third, Authentic Chained Data Container (ACDC) Credentials, helps securely verify and store digital credentials. Together, these technologies allow users to control their identity and interact securely online without needing third-party approval. Veridian Takes a New Approach to Digital Identity Solution Many existing digital identity solutions require users to submit biometric data, such as facial scans or fingerprints, to prove they are real. While this can be effective, it raises concerns about privacy and data security. Veridian takes a different approach by allowing users to verify their identities using cryptographic proofs rather than biometric data. Thomas A. Mayfield, head of decentralized trust and identity solutions at the Cardano Foundation, describes Veridian as a secure and future-proof digital identity solution. Mayfield emphasized that the platform is designed to serve both individuals and businesses, offering a secure and future-proof digital identity solution. This means that even as technology advances, Veridian will remain a secure and reliable option for digital identity verification. This initiative comes at a time when scams are on the rise in the crypto and digital world, where fraudulent activities like identity theft, phishing attacks , and data breaches have become more prevalent. As the digital space grows, so do the methods scammers use to exploit vulnerabilities in traditional identity verification systems. This timely initiative offers a more secure and resilient solution to combat the increasing threats posed by scams in the crypto and digital world. Alongside the platform, the foundation has also launched the Veridian Wallet, which helps users manage their credentials, private keys, and digital identifiers. This move strengthens Cardano’s position in the growing world of decentralized identity solutions. A Broader Industry Trend Veridian is entering a space where other projects, like Humanity Protocol and Worldcoin, are already working on digital identity solutions. These platforms use biometric data like fingerprints or iris scans to verify identities. However, unlike these platforms, Veridian uses cryptographic proofs and Decentralized Identifiers (DIDs), meaning users can prove their identity without sharing sensitive personal information. The post Cardano Foundation Floats Veridian; A New Digital Identity Platform appeared first on TheCoinrise.com .