Picture of the author

Abel

02/08 16:54

Major Identity Update Coming to XRP Ledger: Details

XRP Ledger (XRPL) is set to introduce a groundbreaking feature that will bring lightweight identity verification to the network. Advertisement According to Mayukha Vadari, RippleX senior software developer, the new "Credentials" feature will allow institutions to achieve KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance without sacrificing privacy or decentralization.Credentials are coming to the XRPL!This new feature enables secure, lightweight identity verification, helping institutions meet KYC/AML compliance without sacrificing privacy or decentralization.Let’s dive in… 🧵https://t.co/HjqtS31ZXG HOT Stories Shiba Inu Stuns With 5,277% Netflow Surge; Looming Price Reversal? XRP One Step Closer to Wall Street, Here's How 'Rich Dad Poor Dad' Author Reveals Why He Just Bought More Bitcoin (BTC) Shiba Inu (SHIB) Death Cross Looms on Horizon, XRP Recovery Possible: Here's How, Can Ethereum (ETH) Come Back to $3,000? — Mayukha Vadari (@msvadari) February 7, 2025 Credentials is a new feature that offers a secure, lightweight framework for issuing, managing and verifying user credentials directly on XRP Ledger, enabling strong compliance while protecting user privacy. Advertisement Related Thu, 11/14/2024 - 15:57 XRPL: Four Big Updates Set to Transform XRP Ledger Tomiwabold Olajide Upon activation, developers can use the Credentials feature to optimize user onboarding processes. It will first work with deposit authorization, which allows senders to be automatically approved rather than going through a manual process. Credentials can also be used to authorize off-ledger transactions in conjunction with a decentralized identifier.More on credentialsCredentials are intended to complement the recently introduced Decentralized Identity (DID) standard. The Credentials standard adds a new Credential ledger object and new transaction types for creating, accepting and deleting credentials. Related Tue, 08/22/2023 - 15:00 XRPL: This Partnership Connects XRP Ledger to SWIFT, BTC, ETH Tomiwabold Olajide Credentials can be viewed as a modular building block for DID. It can be used to certify a user's compliance with certain criteria (for example, KYC) and issued to their DID. This may lay the groundwork for a simple onboarding procedure for accessing products such as tokenized RWAs.When combined, DIDs serve as a basic "fingerprint" for each user, whereas credentials provide the identification and compliance layer needed for various scenarios.According to Vadari, the Credentials amendment is now up for voting, and it will be enacted if, after meeting the required vote threshold, more than 80% of trusted validators continue to support it for two weeks.
#Grab $100,000 Surprise Gifts#Santa Claus Rally#The Federal Reserve announced a rate cut#Win 600 USDT: Searching for the Best SunPump Guide#Post To Earn Bonus
55Compartir

Todos los comentarios0Lo más recientePopular

avatar
Lo más recientePopular