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


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/
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