Ethereum Foundation backs Spruce’s vision for decentralized identity verification

Ethereum Foundation backs Spruce’s vision for decentralized identity verification

The Ethereum Foundation (EF) and Ethereum Name Service (ENS) are backing a proposed system for secure sign-in using Ethereum from decentralized identity software firm Spruce.

Spruce’s system was selected after EF and ENS submitted a Request for Proposals in July encouraging developers and software firms to propose a sign-in package using Oauth — an open standard for access delegation.

Our top trading bots

A Sept. 13 announcement states that the firm aims to give users control of their own online identities, offering an alternative to handing over one’s personal data to the likes of Google, Apple, and Facebook.

Spruce notes that the Ethereum ecosystem “already has tens of millions of monthly active wallet users signing with their cryptographic keys for financial transactions, community governance, and more,” adding:

“The security of these wallets has been proven across billions of dollars of digital assets at stake — not theoretical security, but real tests in production. These secure wallets can also be used to sign in to Web2 services.”

Spruce will work closely with ENS and the Ethereum Foundation to ensure that its solution is compatible with existing standards used throughout the Ethereum ecosystem, emphasizing that “the final result will be friendly to implementers while remaining vendor-neutral.”

“By standardizing this workflow, millions of Ethereum users will be able to use a digital identity that they fully control to seamlessly access the web,” the team asserted.

Spruce added that it has already started to deliver a best-practices survey, user research, specification drafts, and reference implementation.

Related: Decentralized identity is the way to fighting data and privacy theft

In July, Cointelegraph reported that crypto payments and identity management platform Numio had developed an app that allows users to verify their identity to web services without sending any sensitive information. Numio’s system uses zero-knowledge proofs to cryptographically verify the data.

Continue reading about Cointelegraph
Diem team members raise $200M to launch blockchain derived from it
Former Meta employees and key players behind the firm’s defunc stablecoin project Diem have raised $200 million to expand a new project dubbed “Aptos.”Aptos...
Binance eyes Thailand for latest crypto exchange expansion
Binance is looking to re-establish crypto exchange services and possibly open a new branch in Thailand after signing an agreement with Gulf Energy Development...
Nifty News: Melania Trump drops NFT, Arabian Camels produces NFT film and Whitney Houston keeps selling hits
Catch up on nonfungible token (NFT)-related news this week from restaurants to movies and music. Below is a roundup of stories you don't want to miss. Melania...
Major Indian bank breaks ‘banking ban’ with WazirX crypto exchange deal
Kotak, India’s leading private bank, has reportedly become the first to open its gates to the crypto community, per a report published in the Economic Times. The...
Sandbox token SAND rallies 260% in November ahead of play-to-earn metaverse launch
SAND, the native token of The Sandbox — a blockchain-based gaming platform owned by Animoca Brands — inched higher on Nov. 23, building on its gains made...
Nifty News: Wolf snaps up Punk, Disney NFTs, Economist mag cover fetches $422K...
The wolf of nonfungible streetsErstwhile crypto skeptic Jordan Belfort has bravely outed himself as an NFT proponent amid the booming growth of the sector...
BTC price passes $57.4K in a fresh surge toward February resistance
Bitcoin (BTC) kept markets guessing into the Wall Street open on Oct. 11 after seeing rejection on hitting its highest since May.BTC/USD 1-hour candle chart...
Private distributed ledger technology or public blockchain?
Some people think that permissioned distributed ledger technology can perform better than open blockchain because it is tweaked to address the issues of...
Uniswap (UNI) price jumps by 15% in DeFi, cryptocurrency market rebounds
Uniswap (UNI) was among the best performers among the top cryptocurrency tokens by market capitalization in the previous 24 hours, logging better gains...
Price analysis 8/25: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH
Bitcoin (BTC) remains on a strong footing after bears failed to capitalize on the rejection near the psychological mark at $50,000. The recent price rise...
Analysts say $46,500 is the key level for Bitcoin to flip to support
The double-digit rallies seen from many altcoins shows traders are becoming increasingly bullish with the passing of each day, but maintaining this momentum...
Rangers Protocol launches Ethereum Virtual Machine-compatible testnet
The Rangers Protocol has opened its testnet to users aiming to provide an Ethereum Virtual Machine-compatible solution that supports cross-chain contract...
Immunefi partners with Binance Smart Chain on bug bounties to secure BSC projects
Immunefi, a security service outfit that specialized in decentralized finance (DeFi) projects, has inked a collaboration with crypto exchange giant Binance.According...
Ethereum Climbs 10% In Bullish Trade
Investing.com - Ethereum was trading at $4,220.80 by 22:34 (02:34 GMT) on the Investing.com Index on Wednesday, up 10.45% on the day. It was the largest...
Mastercard Blames It On Cryptos For Unpleasant First-Quarter Growth Results
This year a range of large American and British banks barred their customers from purchasing cryptos using their credit cards. That has been done in...