Veres One (DID Ledger) Deep Dive
From IIW
Veres One (DID Ledger) Deep Dive
Wednesday 5I
Convener: Manu Sporny
Notes-taker(s): Manu Sporny
Slides: https://drive.google.com/open?id=1bUZbtgdxKxTR1it10G9ZozYGD486qxZTBPuiOZjzoT4
Contents
Veres One
- A Globally Interoperable Blockchain for Identity
- IIW XXVI - April 3rd-5th 2018
Vision
A world where people and organizations create, own, and control their identifiers and their identity data
Fit for Purpose
- Veres One is a fit-for-purpose blockchain optimized for identity.
- It is public and permissionless
Veres One is FAST
- Fastest DID Ledger
- DID Creation
- Bitcoin - create: 0.6M / day - consensus delay: ~3,600 seconds
- Ethereum - create: 2.1M / day - consensus delay: ~375 seconds
- Veres One- create: 18M / day - consensus delay: ~30 seconds
Did NOT do an ICO
- Veres One does not use a token and will not do an Initial Coin Offering (ICO).
- ICOs Create Volatility and Network Debt
Veres One is Cost Effective
- Bitcoin - ~$15-$73 per DID
- Ethereum - ~$4-$14 per DID
- Veres One - ~$1-$2 per DID
- Fee-based revenue models ensure long term operation of the network
- Commodity prices guaranteed due to strong downward pressure on operational costs
Ecosystem
- Veres One Project
- Houses Board of Governors
- Maintainer
- Ensures technical operation of the Network and implements new features.
- Community
- Advises Board of Governors, which ensures proper execution of the mission.
- Accelerators
- Can quickly create identifiers on the Veres One Blockchain.
- Nodes
- Provide compute and storage resources that keep the Network secure.
Veres One Project
- Board of Governors
- Votes on consensus positions of community, has limited Emergency privileges, and can be replaced by community.
- Debates changes to network and pricing until a proposal is formed with no principled objections.
- Funds distribution is determined by the Community and Governors and set based on Network needs.
Funds Distribution
- Pie Chart (see slide deck)
Roadmap
Beta (Oct 2017) Release Candidate (Feb 2018-today) Production (June 2018) Production Customers (Oct 2018)
Questions
- Any questions related to Veres One or the larger ecosystem?
- Manu Sporny | CEO | Digital Bazaar
- Co-Inventor of Verifiable Credential & Decentralized Identifier Technology
- Co-Inventor of JSON-LD
- Co-Founder of Veres One
- 10+ Years in Web Standards
- Customers in Finance, Government, Education, and Healthcare
- Email: msporny@digitalbazaar.com
- Twitter: @manusporny
- https://www.linkedin.com/in/manusporny/