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Blockchain: SOVRIN

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About SOVRIN:

People need to reconsider how we design online identities to solve digital identity issues holistically. Identity metasystem called Sovrin blockchain Network focuses on improving user experience, increasing flexibility, and reducing the costs associated while supporting better safety or confidentiality.

In simple words, Firstly Sovrin is a permission public blockchain-based self-sovereign identity network. Anyone can access the ledger in a public blockchain. Anyone can join the network and become a validator node when it comes to permissionless blockchain. As the name suggests, a validator node tasked with verifying the blockchain’s transactions. For instance, anyone can be a node on the bitcoin and blockchain.

Permission blockchain requires a validator node, as the name implies. To have a “Self-Sovereign Identity” means that the person with the identity actually owns it. And Identity information is not keep in a single location. The person has it in a wallet and holds it in his device. But how can we be sure that this is a real person? In this case, it’s the blockchain that comes into play.

What do you know about DIDs?

Only pointers are stored on the blockchain called Decentralised Identifiers or DVDs. An Issuer ID will be attached to the citizen’s credentials. Blockchains store only pointers, such as the Issuer ID and the authority’s private key, and not the credential itself.

It doesn’t matter if the blockchain is breaching if the Credential IDs are stolen because it They’re useless to anyone. Sovrin determined that only entities with permission should be able to run nodes on its blockchain, provided how serious the problem of identity is. We call these entities are Stewards.

How does Sovrin enable Trust?

Sovrin, a distributed ledger technology platform, facilitates faith and confidence to reside in the digital world while also allowing users to maintain and access personal information in a truly secure environment. However, Even though the network is still in its early stages of development, it has a dependable infrastructure and the support of major corporations. This, in our opinion, is evidence of the world’s long-term stability and potential.

And it is, for this reason, we believe Sovrin is the ideal partner for everyone in our the mission of providing access to public rights through the use of digital identities.

Bottom Line

In short, individuals and organizations can benefit from the capabilities of the identity metasystem because they provide a solid foundation for developing secure identity systems that promote autonomy and confidentiality. The primary purpose of the Sovrin blockchain network is to link individual identity systems and enable them to interoperate with one another because no single system can fulfill the criteria of every digital identity circumstance.

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