Internet Computer, one of the largest decentralized blockchain networks by market cap, has launched Verified Credentials (VC), a solution designed to enable efficient and trustworthy sharing of personal data in Web3.

Verified Credentials will also feature tools to limit the spread of fake news and spam on social media by eliminating bots and fake accounts.

This solution will differ significantly from popular platforms like MetaMask and OKX Wallet. It offers a walletless infrastructure and tools to issue, share, and consume credentials privately. Jan Camenisch, the CTO of DFINITY Foundation, 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

VC is also an integral part of Internet Identity, one of the nine central focus areas of Internet Protocol. Other focus areas include decentralized artificial intelligence (AI), Chain Fusion—enabling external blockchains like Ethereum and Solana to integrate with ICP—platform decentralization, and digital assets.

Verified Credentials will introduce features not previously available. For instance, while platforms like MetaMask assign unique and pseudonymous identities for each dApp, VC’s framework allows users to assign identity attributes to their internet identity.

Ongoing Developments

Launched in 2021, Internet Computer continues to introduce new features to its ecosystem. One of its notable features is Chain-key Bitcoin (ckBTC), a token backed 1:1 by Bitcoin. Data indicates it has over $17 million in total value locked (TVL).

The ecosystem has also expanded to include dApps such as Helix Markets, Funded, Orally, and ICDex. Developers favor this network because it offers all the features needed to deploy dApps, including EVM smart contracts. ICP, its token, boasts a market cap of over $3.7 billion, making it the 24th largest cryptocurrency in the industry.

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