Internet Computer has introduced Verified Credentials (VC), a solution that will make it possible for people to share personal information on Web3 in an effective and reliable manner.
By removing bots and phony accounts, verified credentials will also be able to restrict the dissemination of spam and fake news on social media. The solution will enable walletless infrastructure and technology to issue, share, and consume credentials privately, setting it apart from well-known platforms like MetaMask and OKX Wallet. The CTO of DFINITY Foundation, Jan Camenisch, stated:
“The new Verifiable Credentials feature of Internet Identity addresses long standing problems for online privacy-preserving authentication: all a user needs is a computing device that has a passkey (all recent ones do) and a browser.”
Part of Internet Identity
One of the nine main areas of attention for Internet Protocol is part of Internet Identity, and VC is an essential component. Other focus areas include digital assets, platform decentralization, decentralized artificial intelligence (AI), and Chain Fusion, which allows external blockchains like Ethereum and Solana to be fused with ICP.
Additionally, Verified Credentials will offer hitherto unheard-of features. For instance, users of established platforms such as MetaMask have consistently been assigned distinct and pseudonymous identifiers for every dApp. Users will be able to give their online identity identifying attributes by using VC’s framework.
Since its 2021 launch, Internet Computer has added new features to its environment. Chain-key Bitcoin (BTC), a cryptocurrency with a 1:1 Bitcoin backing, was one of its most noteworthy characteristics. Its total value locked (TVL) is over $17 million, according to data.
As part of its expanding ecosystem, Internet Computer hosts dApps such as ICDex, Funded, Orally, and Helix Markets. Developers prefer the network because it includes all the features—including EVM smart contracts—necessary to implement dApps. With a market valuation of more than $3.7 billion, ICP is the 24th-largest cryptocurrency in the market.
