In May 2020, after 6 months of preliminary development, the Identity Lab officially announced the Identity network development plan, and announced that it will learn from the incentive mechanism of the blockchain and issue IDEs to empower DID ecological development.
According to the Identity Lab, Identity network is a cross-chain NFT+DeFi protocol decentralized identity platform, as well as an open NFT ecosystem. Through the Identity network, anyone can create their own DID identity. Each DID (decentralized identity) is an NFT, which can realize cross-chain compatibility with different platform accounts and realize ecological integration.
Identity network development plan
In 2019, Microsoft released the blockchain decentralized identity system lon
And the Identity Lab was established.
In 2020, Identity Lab officially announced the Identity network development plan and proposed IDE
Identity network launched a cross-system DID aggregation protocol
Identity develops NFT identity casting protocol
In March 2021, Identity joined the DEFI protocol concept and officially issued IDE functional tokens
start the IDE global node incentive plan
launch the DAS collective domain name system
In May 2022, expand the connection between DID identity and major ecological scenarios, and improve the ecological system
Introduce blockchain incentive mechanism, IDE empowers DID development
In terms of incentive mechanism, Identity Lab draws on the incentive mechanism of blockchain project digital tokens, and issues IDE as the platform’s native functional tokens, which will be widely used in platform governance, ecological incentives, NFT identity, system taxation, etc. , To stimulate the development of the entire ecology.
Regarding the distribution and use of IDEs, the Identity Lab will adopt the DAO governance mechanism to recruit nodes around the world. Users have the right to vote and speak according to the number of IDEs they hold, and jointly determine the future development of the IDE.
The release of the Identity network development plan marks the completion of the preliminary preparatory testing of the Identity project and officially enters a period of rapid development. It also allows global users to see the future of the Identity project more clearly. Identity network will usher in a better future with the development of Web3.0, and the new stars of the digital age are rising.