Thread by @MikeToutonghi

1/ #VerusID, activates December 15th!
100% decentralized, self-sovereign, quantum ready, friendly identities and crypto addresses with passport strength proofs and recoverability when keys are lost/stolen! I’ll explain this new technology and its basics in this thread.

2/ Anyone can register a new ID for an available friendly name for 100 VRSC (all fees go to miners/stakers and referrers). Each ID defines one or more addresses that may be single or multisig and control spending and signing authority, Sapling address, and reference to two IDs.

3/ Addresses and their minimum signatures are the primary authority of an identity, and controllers those addresses can spend, sign, and update the primary identity and change the addresses and signatures required. This is referred to as the primary authority of the identity.

4/ Each identity also references two other identities, which may be self, and each have special, limited authorities, namely, revocation and recovery. Neither of these authorities have spending or signing authority over the identity unless they are also the identity itself.

5/ The revocation authority can only revoke an identity and also edit the revocation authority. Revocation renders the identity unable to spend any transactions sent to it as soon as the revocation is mined into the blockchain.

6/ The recovery authority can only recover/redefine a revoked identity, including redefinition of controlling address, or when available even type of addresses, such as those that may be quantum secure.

7/ Whenever an identity is changed, new controlling addresses and their signature requirements gain control over all transactions sent to it. That means that when quantum secure addresses are available, adding them to an identity will retroactively make its UTXOs quantum secure.

8/ Identities include hashes that may be used to represent documents, images, even videos or merkle structures of associated media, claims, or signed attestations by other identities, enabling trusted authority, network of trust, accrued trust, or other trust models.

9/ Identities also include Sapling private addresses that may be used as published endpoints for private communication or transactions. As voting endpoints, votes can be revealed to all simultaneously by simply revealing incoming viewing keys.

10/ Verus includes ID referral discounts and rewards in the blockchain protocol. With a referral, cost is reduced from 100 to 80 VRSC, 20 of which goes to the referrer, 20 to referrer’s referrer, 20 to their referrer, and the rest to the miner or staker of the registration.

11/ Identities, when they activate December 15th, will enable confidential, verifiable, and transparent polls on the Verus blockchain. When PBaaS activates early next year, all PBaaS blockchains will be able to create and use their own identities as well.

12/ Identities may also be used for a variety of forms of authentication using a message challenge, PK signature response with one or more signatures as needed. It is also possible to use private encrypted messages to build password managers that use IDs as a root.

13/ I'm excited to have created and published this identity technology for the Verus Project, and the world. If you have a need for the most advanced, decentralized identity technology available today, drop by our community Discord and start a discussion.

14/ For more information on #VerusID, or to try it out today on the Verus testnet before activation, visit the Verus Community Discord for details and information: discord.gg/YqnhueF