Cardano Launches Veridian for Secure Digital Identity Management

• Veridian platform launches on iOS, Android with focus on digital identity sovereignty.
• New wallet offers post-quantum security and verifiable credential management.
• ADA price remains flat with 0.1% 24-hour gain despite ongoing weekly losses.

The Cardano Foundation has officially launched Veridian, an open-source digital identity platform designed to give users complete control over their digital presence. The platform was released simultaneously with the Veridian Wallet application.

According to Cardano’s announcement, approximately 1.7 billion records were compromised in the United States alone, due to data breaches last year. “Veridian puts you in control of your digital identity with secure, verifiable credentials and privacy-preserving infrastructure,” stated the Cardano Foundation. The platform aims to address the vulnerabilities of centralized identity management systems.

The Veridian platform makes use of several open protocols, including Key Event Receipt Infrastructure (KERI) decentralized identifiers and Authentic Chained Data Container (ACDC) credentials. These technologies allow authentic communications and verifiable identity protocols.

Despite the technological milestone, Cardano’s native cryptocurrency, ADA, has shown minimal price movement, gaining only 0.1% growth over the past 24 hours. According to CoinGecko data, ADA continues to show negative performance, with 7-day and 30-day losses of 8.9% and 30.2%, respectively. This suggests that despite the technological advancement, investor sentiment toward Cardano remains cautious in the current market environment.

The Veridian Wallet application provides users control over their private keys, identifiers, and credentials directly from their mobile devices. The wallet is both iOS- and Android-friendly and has several intrinsic benefits over traditional identity solutions.

The wallet provides end-to-end control with decentralized identifiers, eliminating dependence on third parties for identification. It employs post-quantum security, combining advanced key management with cryptography that is resistant to future threats.

Related: Ethereum Faces Pressure as ETH/BTC Ratio Hits 2020 Low

The users can issue credentials that authenticate delegated authority and manage permissions while maintaining privacy. The platform also supports global interoperability, enabling verifiable data to be shared across industries and frameworks without the requirement for system rebuilds.

Veridian is committed to transparency with its public with a permissionless platform and open-source protocols. Further, it supports independent deployment that gives users the flexibility to deploy infrastructure proportionate to their specific needs. While this release is technologically relevant, the price performance of Cardano suggests that market players may take more time to think through the adoption potential and real-world impact of the platform before converting this advancement into the value of ADA.

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