Decentralized identity is an early preview of the centralized identity (DID) network of ION (Identity
Overlay Network) as the entry point of the public blockchain strategy. Anyone can use this to run NFT
coins. The private public network on the blockchain is used to create a decentralized identity, manage
the state of its public key infrastructure, and initially realize the design that inherits the fully
decentralized properties of Bitcoin and can meet the scale requirements required for DID management
purposes.

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Economic model

DE is a governance equity certificate issued by Metaverse Laboratory to promote ecological development based on blockchain technology. A total of 7.8 billion NFTs are issued and all mining outputs are issued.

Mining mechanism

Except that 20% of the total amount is used for mining pool construction, the remaining 80% is all mining output, and the output is reduced by 5% every three months, and the block is burst once every three minutes. Users can use ecological mining pools, consensus mining pools,


As the platform’s native governance digital token, Metaverse NFT,

Destruction mechanism

1% of all transaction fees on the platform will be directly destroyed, and the total amount will eventually be maintained at 7.8 billion through the extreme deflation mechanism

Main uses include:

Platform governance: IDE token holders will vote on the number of platform participation to guide the operation and development of the project,

 

Incentive measures: IDE is used to motivate users to participate in bounty programs, user recommendations and other programs in the future

 

NEF identity: IDE tokens will be minted, mortgaged, auctioned and traded by the user’s NFT identity

 

System taxation: Users who trade IDE tokens will contribute to the revenue pool to capture the value of IDE toke

Technology Overview of Metaverse iD  Digital Citizen Platform

1. Biosafety Identification

Everyone can create their own end-use digital identity through the Metaverse iD digital citizen platform. By combining the Metaverse iD digital citizen platform with smartphones and applications that support object recognition, users will be able to securely and reliably establish a self-identity, instead of replacing inefficient online passwords and physical key fobs.

2. Individual Privacy Protection

Through the Metaverse iD digital citizen platform, users will maintain 100% control over the privacy of their personal identity information. The identity information is not stored on the server or "cloud" but is stored on the user's device and IPFS in a predetermined encrypted format. Users can choose how to back up this information according to their own privacy preference. The Metaverse iD digital citizen platform is designed so that it will only disclose a randomly generated identifier in the worst case, representing a "verified statement" to the individual. The identity data itself is kept privately on a Metaverse iD-based application, which is located on their mobile device. The purpose of this is to ensure that no company or government can access, sell, modify or delete identity. 

3. Seamless Identification of the Digital World & Physical World

The user's identity on the Metaverse iD platform will be extended to the digital and physical world. This means that users will be able to access websites or entities through their phones, all of which can be accessed through the same identity application and interface.

• No Password Required

• Recovery and Backup

4.Verified Statement

The verified statement is a strong part of the Metaverse iD ecosystem. They allow us to prove to others the characteristics of our identity. For example, the state government can make a statement that the holder of a lifetime ID card has a certain date of birth, and then the ID holder can make this request to other people to prove their age. The verified statement works similarly to the way we have already proven our identity: we require the use of a driving license to verify a person’s identity because we believe that the information on the driving license is true. As long as you trust the verified claim issuer, you can trust that any content contained in the claim is correct.

5.Metaverse iD -- Digital Citizen Platform SDK & APP

DID digital citizen platform provides a software development kit and smart phone application to support platform production and speed up the network effect. The APP will provide a verifiable wallet with self-sovereign identity access, security and secret key management.

6.Ecological Application

Metaverse iD can work closely with ecosystem partners in identity, blockchain, and several vertical industries through API authorization to ensure that the Metaverse iD platform becomes the de facto basic platform for self-sovereign identity. 

7. MiD -- Eco Token

MiD (Metaverse iD Token) is the governance token of the entire ecosystem, and is also the core asset that is applied and circulated throughout the decentralized digital identity. Initially, it was issued based on Binance Smart Chain (BSC) and developed its own ecological public chain simultaneously. Once the development of the public chain is completed, all MiDs will be mapped to the main network.

Halftone Image of Crowd

Development Plan

In December 2021, release the blockchain decentralized identity system lON
In January 2022, establish the laboratory
In May 2022, announce the development plan and propose IDE
In September 2022, launch a cross-system DID aggregation protocol

In March 2022, officially confirm the issuance of IDE governance equity tokens with the concept of the
DIFI agreement
In July 2022, launch the global node incentive plan
In December 2022, launch the DAS collective domain name system
In May 2023, expand the connection between DID identity and major ecological scenarios, and improve
the ecosystem