It's a Layer 2 on the Bitcoin main net that is governed with the ION token.
This L2 is similar to Lightning except that instead of a payment it uses Bitcoin’s blockchain to create digital IDs for authenticating identity online.
This is going to be sick!
Topic: Microsoft Is Using Bitcoin to Help Build a Decentralized Internet - page 2. (Read 252 times)
I read about this Microsoft project, the project was developed by Microsoft.
This project is called ION and it aims to provide individuals and other entities with complete control over their personal data and its exchange through a decentralized network.
More information about the project can be read through this link:
https://bitcoinist.com/how-microsoft-is-building-a-decentralized-internet-on-top-of-the-bitcoin-network/
The project is still under development and it is controversial, I think that the project does not use bitcoin, but rather uses the idea of bitcoin by relying on decentralization and maintaining privacy, you can store your data safely on a decentralized network without the need for a third party and you can use data on more than one site safely while maintaining your privacy.
This project is called ION and it aims to provide individuals and other entities with complete control over their personal data and its exchange through a decentralized network.
More information about the project can be read through this link:
https://bitcoinist.com/how-microsoft-is-building-a-decentralized-internet-on-top-of-the-bitcoin-network/
The project is still under development and it is controversial, I think that the project does not use bitcoin, but rather uses the idea of bitcoin by relying on decentralization and maintaining privacy, you can store your data safely on a decentralized network without the need for a third party and you can use data on more than one site safely while maintaining your privacy.
Firstly , Bitcoins and Blockchain are very different things. At the same time I do think you have to understand for a fact that sometimes people usually interrelate them more than they are supposed to be interrelated. Therefore I feel like, if I he name "blockchain" is going to pop up places then people will be also comfortable with "Bitcoins" a little more.
It's not about bitcoins being popular, it's about crypto base being used for by most of the major companies which is not only positive but it will also help them grow with the time. As we all know that blockchain is being used almost everywhere.. the implications are numerous, what's needed is a good push start to make it integrate into the whole system. Maybe this news might do it.
-More or so be it "blockchain" or "bitcoins" both are profitable for the community if used properly. We need to carefully examine the whole process in detail, the positive, the negative feedbacks, how the people respond to this step and what positive effects it brought in their lives.
It's not about bitcoins being popular, it's about crypto base being used for by most of the major companies which is not only positive but it will also help them grow with the time. As we all know that blockchain is being used almost everywhere.. the implications are numerous, what's needed is a good push start to make it integrate into the whole system. Maybe this news might do it.
-More or so be it "blockchain" or "bitcoins" both are profitable for the community if used properly. We need to carefully examine the whole process in detail, the positive, the negative feedbacks, how the people respond to this step and what positive effects it brought in their lives.
We haven't even migrated to IPV6 yet and people are already starting to initiate migrations to newer networks? OK good luck with that. There's a reason everyone's been stuck-in-the-mud with IPV4 for a long, long time, because routers and software are exclusively written for it. Some new software still ignores IPV6 to this day.
On these grounds, it is absurd to think that a decentralized internet can somehow be widespread (ubiquitous is completely out of the question), when even IPV6 is not as widespread as it should be.
On these grounds, it is absurd to think that a decentralized internet can somehow be widespread (ubiquitous is completely out of the question), when even IPV6 is not as widespread as it should be.
But this news site is new to me, so I am not sure how potential this news is since I have searched in Cointelegraph channels but missing it there.
- https://www.coindesk.com/micorosfts-ion-digital-id-network-live-bitcoin- https://www.nasdaq.com/articles/microsofts-ion-digital-id-network-is-live-on-bitcoin-2021-03-25
Quote
In the news seems Microsoft using Bitcoin blockchain in the ION project for the record of Bitcoin transaction. I am not getting the whole concept of how it would help Bitcoin adaption.
The purpose of ION is to create digial IDs for online identity authentication on Bitcoin's mainnet as written in the articles above.Bitcoin is probably the only true decentralized and open source blockchain that exists so I guess a huge company using it is a positive news. It may not be about payment but it introduces another use case.
As the title says, here you will find more details about the news "Microsoft Is Using Bitcoin to Help Build a Decentralized Internet . Found this news in a Telegram channel. But this news site is new to me, so I am not sure how potential this news is since I have searched in Cointelegraph channels but missing it there. In the news seems Microsoft using Bitcoin blockchain in the ION project for the record of Bitcoin transaction. I am not getting the whole concept of how it would help Bitcoin adaption. Let's express your opinion.
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