Standards and regulations
W3C - V.C - V.P - DID
Last updated
W3C - V.C - V.P - DID
Last updated
nChain Identity's SSI solution— Verifier, Issuer, and Identity Wallet—is built modularly. Each phase of development builds upon the previous one, ensuring continuous progress while remaining flexible to new insights, ongoing testing, and user feedback. The process iterates and improve balancing cost and perceived value. nChain Identity has an open roadmap approach with constant feedback and validation of requirements to deliver an optimal product.
The nChain Identity Platform is constructed on open standards. Allowing individuals to securely store their credentials on nChain Identity digital wallet that complies with the standards. Additionally, it ensures that any party can authenticate the data's legitimacy regardless of geographical location, provided their verification system aligns with these standards.
A Verifiable Credential (VC) serves as a standardised method to digitally articulate credentials (claims) in a tamper-proof and privacy-preserving manner, ensuring machine-verifiability. Published by the W3C in 2019, the Verifiable Credentials Data Model establishes the foundation for this approach.
As per the W3C, decentralised Identities represent a fresh identifier category that facilitates verifiable, decentralised digital identity. DIDs operate autonomously of any organisation or identity provider, providing creators with complete control. Each DID is equipped with a cryptographic key pair, where the Issuer's Private Key signs the Verifiable Credential, and the Public Key is openly available on the blockchain. This methodology enables a Verifier to consult the blockchain for the Issuer's DID and associated Public Key when verifying the authenticity of a Verifiable Credential.