Microsoft Is Using Bitcoin to Help Build a Decentralized Internet

[The Cryptovator]

As the title says, here you will find more details about the news "Microsoft Is Using Bitcoin to Help Build a Decentralized Internet . Found this news in a Telegram channel. But this news site is new to me, so I am not sure how potential this news is since I have searched in Cointelegraph channels but missing it there. In the news seems Microsoft using Bitcoin blockchain in the ION project for the record of Bitcoin transaction. I am not getting the whole concept of how it would help Bitcoin adaption. Let's express your opinion.

[Yogee]

But this news site is new to me, so I am not sure how potential this news is since I have searched in Cointelegraph channels but missing it there.

- https://www.coindesk.com/micorosfts-ion-digital-id-network-live-bitcoin
- https://www.nasdaq.com/articles/microsofts-ion-digital-id-network-is-live-on-bitcoin-2021-03-25

In the news seems Microsoft using Bitcoin blockchain in the ION project for the record of Bitcoin transaction. I am not getting the whole concept of how it would help Bitcoin adaption.

The purpose of ION is to create digial IDs for online identity authentication on Bitcoin's mainnet as written in the articles above.

Bitcoin is probably the only true decentralized and open source blockchain that exists so I guess a huge company using it is a positive news. It may not be about payment but it introduces another use case.

[NotATether]

We haven't even migrated to IPV6 yet and people are already starting to initiate migrations to newer networks? OK good luck with that. There's a reason everyone's been stuck-in-the-mud with IPV4 for a long, long time, because routers and software are exclusively written for it. Some new software still ignores IPV6 to this day.

On these grounds, it is absurd to think that a decentralized internet can somehow be widespread (ubiquitous is completely out of the question), when even IPV6 is not as widespread as it should be.

[fiulpro]

Firstly , Bitcoins and Blockchain are very different things. At the same time I do think you have to understand for a fact that sometimes people usually interrelate them more than they are supposed to be interrelated. Therefore I feel like, if I he name "blockchain" is going to pop up places then people will be also comfortable with "Bitcoins" a little more.

It's not about bitcoins being popular, it's about crypto base being used for by most of the major companies which is not only positive but it will also help them grow with the time. As we all know that blockchain is being used almost everywhere.. the implications are numerous, what's needed is a good push start to make it integrate into the whole system. Maybe this news might do it.

-More or so be it "blockchain" or "bitcoins" both are profitable for the community if used properly. We need to carefully examine the whole process in detail, the positive, the negative feedbacks, how the people respond to this step and what positive effects it brought in their lives.

[yhiaali3]

I read about this Microsoft project, the project was developed by Microsoft.
This project is called ION and it aims to provide individuals and other entities with complete control over their personal data and its exchange through a decentralized network.
More information about the project can be read through this link:
https://bitcoinist.com/how-microsoft-is-building-a-decentralized-internet-on-top-of-the-bitcoin-network/

The project is still under development and it is controversial, I think that the project does not use bitcoin, but rather uses the idea of ​​bitcoin by relying on decentralization and maintaining privacy, you can store your data safely on a decentralized network without the need for a third party and you can use data on more than one site safely while maintaining your privacy.

[titular]

It's a Layer 2 on the Bitcoin main net that is governed with the ION token.

This L2 is similar to Lightning except that instead of a payment it uses Bitcoin’s blockchain to create digital IDs for authenticating identity online.

This is going to be sick!

[verita1]

Here is another article that references the same topic that has been shared by Michael Saylor.
In my opinion, this is a new advance that decentralization achieves thanks to the technology powered by bitcoin.

The mission of the ION project is to build Decentralized Identifiers, or DIDs, that can serve as the anchor point for our activities all across the internet. If the goal of bitcoin is to eliminate the power of centralized institutions over money, ION is trying to do the same thing with online identities.

https://twitter.com/michael_saylor/status/1413506693569204227?s=19

Project developer Daniel Buchner is forming a working group according to this tweet.

The Decentralized Identity Foundation (@DecentralizedID) has formed an Applied Cryptography Working Group for standardization of cryptographic schemes and open src libs: https://t.co/qHpWwQjkV7

DIF is FREE to join as an individual contributor, or as a company w / <1000 employees

https://twitter.com/csuwildcat/status/1413224963427815425?s=19

[Tytanowy Janusz]

Looks like in the end of the day bitcoin will be the only thing we need and all altcoins (ETH included) are only test fields to test various scenarios and use cases. This is 3 month old article. Wonder why it was so quiet about that. We were in bull run that day breaking 60k.

I also wonder why no one talks about taproot implementation that will be activated mid-November 2021. Everyone is so excited about finex whale, Elon Musk, Michael sailor, "Wyckoff patterns" that people forget what its all about ignoring fundamental improvements of bitcoin.

[Felimon]

Microsoft is a large company specializing in computer technology as well as internet informatics, they are giant companies that know how to grasp the times. If this is true news, the new direction of BTC will not stop developing. Maybe BTC is not used for their intended payment, but they can use the source code or some features of BTC to develop software according to the latest trend of the market today.

[vv181]

I am not getting the whole concept of how it would help Bitcoin adaption. Let's express your opinion.

I just barely know ION, and it seems it's pretty under the radar over the whole time, or maybe it's just me that didn't keep up with what is going on.

It's running on layer 2 on Bitcoin just like LN, I assume. I suppose that LN is built to help the scalability issues that goings-on Bitcoin, especially the micro-transaction. So, it indeed helps bitcoin adoption.

About ION, I personally think that it would be hard to help gain a traction for Bitcoin and also for the project itself. Implementing DID across various technologies would be an extensive task, it also needs many users to be able to use it easily. Anyway, let's see how this will be going on since the development is still pretty early.

[OcTradism]

As the title says, here you will find more details about the news "Microsoft Is Using Bitcoin to Help Build a Decentralized Internet .

First of all, Microsoft will not use and rely on Bitcoin to build anything for that corporation. They can not bet on Bitcoin blockchain for the future of their corporation and investors might not believe in it too.

Second, if they build up any decentralized internet, they will build it on Microsoft blockchain (if they make one). With Microsoft blockchain, will the Internet be decentralized. I don't know. They can make a DAO for that Internet but the core still belong to Microsoft.

[Lucius]

Given that the idea comes from Microsoft, I have to admit that I am very skeptical, because I find it a little difficult to accept that they are developing something that, according to them, should enable individuals to gain control of ownership rights over their digital identities. A company that is at least controversial with its OS and speculation that they work closely with the authorities by allowing them to spy on people around the world is not exactly the best choice for a project like this.

Some of the comments below the article best show what people think about this.

I’ve started listening, but geez, Mirosoft? The king of the sleazy tech giants, the bait and switch champion, the most defective and buggy software? Zero credibility.
I avoided Microsoft software as much as possible. My experience with their buggy crap is that they either never used their own software, or they would have run into their bugs; or they simply had such low standards that those bugs were acceptable.
No idea how much of this interview I’ll be able to stomach. Microsoft!

Sooo…is this the same Microsoft that tried to install their OS software and browser in every computer, including every computer in all the government agencies and schools with whom Microsoft had contracts?
Is this the same Microsoft whose CEO was called BillGateus of Borg?
Is this the same Microsoft that is no doubt a government stoolie after Bill Gates ran in with Antitrust authorities?

[GeorgeJohn]

Microsoft is a large company specializing in computer technology as well as internet informatics, they are giant companies that know how to grasp the times. If this is true news, the new direction of BTC will not stop developing. Maybe BTC is not used for their intended payment, but they can use the source code or some features of BTC to develop software according to the latest trend of the market today.

Already Microsoft or internet is decentralized, so extending it to cryptocurrency which is already a decentralized platform, it's a welcomed development, maybe the adoption of bitcoin for Microsoft will create another hands to internet, so our questions should be how are they going do about it, is that they will create or generate i chips of bitcoin for subscription or payment, that should be our major concerns.

[lovesmayfamilis]

To me, the concept of Microsoft, which monitors everywhere and everywhere, and the decentralized Internet sounds absurd.

Microsoft will never do anything like this to do with freedom. And whatever they promise, I will never believe in their pure intentions. And I urge everyone not to trust operating systems and any other software that is associated with this name.

[Poker Player]

To me, the concept of Microsoft, which monitors everywhere and everywhere, and the decentralized Internet sounds absurd.

That's what I was thinking, changing the word Microsoft to Bill Gates, which is more or less the same. Above all, it doesn't make sense to me that they are supposedly betting on decentralization and anonymity without them making a profit. I could believe it more if the company was MSTR, or if MSFT had bought a bunch of Bitcoin to hold in its reserves instead of cash like Saylor did.

[The Cryptovator]

Firstly , Bitcoins and Blockchain are very different things. At the same time I do think you have to understand for a fact that sometimes people usually interrelate them more than they are supposed to be interrelated. Therefore I feel like, if I he name "blockchain" is going to pop up places then people will be also comfortable with "Bitcoins" a little more.

I know very well Bitcoin and Blockchain aren't the same things anyway. News says Bitcoin, not the Blockchain actually. ION project will record Bitcoin Blockchain as said above. The name Bitcoin popup in the news. That's why I am a little confused here. Also, there is suspension about the news either it's true or false. Anyway even Microsoft uses Bitcoin blockchain (not another blockchain) for whatever reason, it would be positive. Although it's not a huge adaptation, but more people would learn about Bitcoin.

[thesmallgod]

Decentralized Identity not internet. They already released the whitepaper you can download and read on their website https://query.prod.cms.rt.microsoft.com/cms/api/am/binary/RE2DjfY https://www.microsoft.com/en-ww/security/business/identity-access-management/decentralized-identity-blockchain. They are probably going to build their own decentralized blockchain system which will offer decentralized identity solution. Detail is yet to be known about the roadmap and the tokenomics if anyone

[titular]

Looks like in the end of the day bitcoin will be the only thing we need and all altcoins (ETH included) are only test fields to test various scenarios and use cases. This is 3 month old article. Wonder why it was so quiet about that. We were in bull run that day breaking 60k.

I also wonder why no one talks about taproot implementation that will be activated mid-November 2021. Everyone is so excited about finex whale, Elon Musk, Michael sailor, "Wyckoff patterns" that people forget what its all about ignoring fundamental improvements of bitcoin.

I have significant doubts that people will pick up and leave their native blockchain to have it ran on bitcoin's.

I don't find it very likely this would happen. To be clear, I am not saying it couldn't. I just find it highly unlikely.

[Tytanowy Janusz]

I have significant doubts that people will pick up and leave their native blockchain to have it ran on bitcoin's.

I don't find it very likely this would happen. To be clear, I am not saying it couldn't. I just find it highly unlikely.

Projects are constantly changing native blockchains to open its own blockchain to wrap back to old blockchain to wrap on other chains. Like VET. Started as ETH token, than launched mainnet, then wrapped back to ETH when uniswap started to be popular, then wrapped on BSC when uniswap was to expensive to trade and people started to use pancake swap. Projects fallow hype train to stay on the water. Projects that dont fallow hype - sink.

[titular]

I have significant doubts that people will pick up and leave their native blockchain to have it ran on bitcoin's.

I don't find it very likely this would happen. To be clear, I am not saying it couldn't. I just find it highly unlikely.

Projects are constantly changing native blockchains to open its own blockchain to wrap back to old blockchain to wrap on other chains. Like VET. Started as ETH token, than launched mainnet, then wrapped back to ETH when uniswap started to be popular, then wrapped on BSC when uniswap was to expensive to trade and people started to use pancake swap. Projects fallow hype train to stay on the water. Projects that dont fallow hype - sink.

I am almost certain VET runs off the VeThor blockchain and isn't tied to BSC or ETH at this current time. They were on ETH yes, but they moved from that a while ago, and don't recall them going back.

Maybe I'm missing something though. Any sources?