Internet Computer launches Verified Credentials

Internet Computer, one of the largest decentralized blockchain networks by market cap, has launched Verified Credentials (VC), a solution that will enable efficient and secure sharing of personal data on Web3.

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

The solution will be quite different from popular platforms like MetaMask and OKX Wallet because it will offer walletless infrastructure and tools for privately publishing, sharing and using credentials. DFINITY Foundation CTO Jan Camenisch said:

“Internet Identity’s new Verifiable Credentials feature addresses long-standing issues around online privacy-preserving authentication: all a user needs is a computing device with a passkey (they all have them lately) and a browser.”

Part of the Internet Identity

VC is also an integral part of Internet Identity, one of the 9 central focus areas of the Internet Protocol. Some of the other areas of focus include decentralized artificial intelligence (AI), Chain Fusion, which allows external blockchains like Ethereum and Solana to be combined with ICP, platform decentralization, and digital assets.

Verified Credentials will also introduce new features that were not available before. For example, existing platforms such as MetaMask have always assigned their users unique and pseudonymous IDs for each dApp. VC’s framework will allow users to assign identity attributes to their internet identities.

Internet Computer, which was launched in 2021, continued to bring new features to its ecosystem. One of its most notable features was Chain-key Bitcoin (ckBTC), a token backed 1:1 by Bitcoin. Data shows total value locked (TVL) is over $17 million.

Internet Computer’s ecosystem has also grown to include dApps such as Helix Markets, Funded, Orally, and ICDex. Developers choose the network because it has all the features needed to deploy dApps, including EVM smart contracts. ICP has a market capitalization of its token of over $3.7 billion, making it the 24th largest cryptocurrency in the industry.