The Hedera Hashgraph ecosystem has been extremely busy regarding the decentralized development of Hedera’s developer tools/services. Additionally, Hedera’s involvement in standards bodies and associated working groups, such as W3C, have created further alignment in those developments. Looking through the Hedera blog, you’ll read about all of the work being done throughout the ecosystem. Some example industries that ecosystem partners are targeting include sustainability, digital health, gaming, pharmaceutical, and many others.
A brief history of Decentralized Identifiers (DIDs) and Verified Credentials (VCs)
As written in the W3C Decentralized Identifiers (DIDs) v1.0 documentation, “Decentralized Identifiers (DIDs) are a new type of globally unique identifier that are designed to enable individuals and organizations to generate their own identifiers using systems they trust. These new identifiers enable entities to prove control over them by authenticating using cryptographic proofs such as digital signatures. Since the generation and assertion of Decentralized Identifiers is entity-controlled, each entity can have as many DIDs as necessary to maintain their desired separation of identities, personas, and interactions.”
Attached to DIDs described above are Verified Credentials (VCs). When writing about VCs, W3C explains in the Verifiable Credentials Data Model 1.0 document, “In the physical world, a credential might consist of information related to identifying a subject, information related to the issuing authority, information related to the type of credential, information related to specific attributes about the subject, and evidence related to how the credential was derived. Verified Credentials (VCs) can represent all the same information that a physical credential represents. The addition of technologies, such as digital signatures, makes VCs more tamper-evident and more trustworthy than their physical counterparts. Holders of VCs can generate verifiable presentations (VPs) and then share these VPs with verifiers to prove they possess VCs with certain characteristics. Both VCs and VPs can be transmitted rapidly, making them more convenient than their physical counterparts when trying to establish trust at a distance.”
Creation of identity networks within appnets, that is: creation and initialization of the artifacts mentioned above.
Generation of decentralized identifiers for Hedera DID Method and creation of their basic DID documents.
Creation (publishing), update, deletion, and resolution of DID documents in appnet identity networks.
Issuance, revocation and status verification of Verifiable Credentials.