- IOTA Identity is reported to be mainnet-ready, equipped with a unified and modular architecture, etc.
- It is also said to combine W3C standards with MovEM for authentication and verification.
IOTA has announced that the much-anticipated IOTA Identity is finally ready for the mainnet, with its v1.6-beta currently live. According to the post detailing this development, this new initiative has a unified and modular architecture and a new CoreClient interface.
Basically, this is reported to align with the “transactions API across Rust and WASM.” Also, there is a capable multi-control and delegation support. No custom Move calls are required for this as it manages controller roles and ensures that delegations flow directly from the library. Above all, there is a Keytool to sign transactions and store DID key material.
In a previous blog post, IOTA highlighted that the idea behind this introduction is to offset the problem of trust in digital data. In that report, information was disclosed to be threatened by manipulation from unverified sources, undermining e-commerce security and identity verification.
The problem centres on two key aspects: data integrity (ensuring information remains unaltered) and data authenticity (verifying the source of a claim). Without these guarantees, businesses, individuals, and machines struggle to establish trust, leading to inefficiencies, fraud, and security risks.
The IOTA Identity was, therefore, reported to be the magic wand to address these problems as it combines W3C standards with IOTA MoveVM. According to the post, this helps to provide a framework for authentication, verification, and secure data exchange.
More About IOTA Identity
Shedding more light on this, the IOTA Identity was explained to ensure data integrity by keeping verifiable credentials off-chain for the benefit of privacy and user control. Most importantly, its use could be very important across different sectors including Finance, Supply Chain, Healthcare, Government and Enterprise, etc.
Cryptographic verification ensures authenticity, while standardized formats enable seamless interoperability. Whether for personal credentials, business transactions, or IoT authentication, IOTA Identity fosters cross-platform trust with a user-centric model.
The current development of the IOTA Identity forms part of the bigger plan to transform the ecosystem and rub shoulders with industry heavyweights. As CNF explored earlier, the project’s co-founder, Dominik Schiener, has disclosed that the ultimate goal is to build a digital world on-chain with diverse infrastructures cutting across Digital Identity, Artificial Intelligence, etc.
Meanwhile, the IOTA Rebased has already been launched on the mainnet, as indicated in our recent blog post. In the future, several projects, including IOTA Names, Starfish, and others, will be deployed. For now, it has partnered with Keystone to enable real-world applications such as cross-border trade data through TWIN and Identity Solutions as discussed earlier.
Amidst the backdrop of this, IOTA has declined by 1.9% in the last 24 hours, trading at $0.20. According to our recent analysis, the asset could stage a bullish reversal to hit $0.3 after breaching the $0.28 level.
