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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/xrp-ledger-achieves-major-milestone-with-decentralized-identifiers/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP Ledger Achieves Major Milestone with Decentralized Identifiers</a> 
On October 30, 2024, the XRP Ledger (XRPL) reached a significant milestone by activating Decentralized Identifiers (DIDs). This advancement paves the way for user-controlled digital identities.
<h2 id="understanding-decentralized-identifiers-dids">Understanding Decentralized Identifiers (DIDs)</h2>
DIDs are unique, decentralized identifiers that allow users to own and manage their digital identities without relying on a central authority. This structure complies with World Wide Web Consortium (W3C) standards, ensuring that DIDs are persistent, globally resolvable, and compatible with various <a href="https://en.coin-turk.com/aave-discusses-implementing-fee-switch-to-distribute-earnings-to-token-holders/" data-wpel-link="internal" rel="noopener noreferrer nofollow">blockchain</a> networks.
Mayukha Vadari, a contributor to the development of the DID standard on XRPL, noted that these identifiers function like a digital fingerprint.
<blockquote>
 “DIDs secure users’ digital identities by providing a unique and verifiable identity.” – Mayukha Vadari
</blockquote>
In the XRPL ecosystem, DIDs are just one part of the identity solution. Verifiable credentials (VCs) play a crucial role in fully validating user identities, ensuring secure identity verification while allowing users to prove their identities without compromising personal data.
<h2 id="ripple-s-cto-addresses-community-concerns">Ripple’s CTO Addresses Community Concerns</h2>
Ripple ‘s CTO, David Schwartz, responded to a critical question from the XRP community. The inquiry concerned Ripple’s dependency on XRP, to which Schwartz emphasized the importance of XRP for the security of XRPL.
<blockquote>
 “To withstand spam attacks, a ledger needs something scarce to finance transactions, preventing endless junk data from overwhelming the system.”
</blockquote>
Schwartz clarified that the necessity of XRP for transaction fees deters malicious users from flooding the network with excessive transactions.
While assuring <a href="https://en.coin-turk.com/cryptocurrency-market-trends-and-bonk-coin-analysis/" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> holders of XRP’s long-term benefits, it was also highlighted that the upcoming stablecoin would not negatively impact XRP demand.
<h2 id="the-future-of-dids-in-xrpl">The Future of DIDs in XRPL</h2>
The launch of DIDs on XRPL is expected to bring a series of advantages to the ecosystem. Decentralized identifiers offer a secure and user-controlled mechanism for digital identity management, increasingly important as more services and applications transition to blockchain-based platforms.
DIDs can facilitate identity verification in areas such as DeFi applications, online transactions, and digital document signing. This development aligns with broader industry trends emphasizing privacy and user control.
As the DID standard gains adoption among more applications, XRPL is anticipated to attract greater interest from individuals and organizations seeking autonomous identity solutions.
These innovations in decentralized identity management position XRPL competitively within the <a href="https://en.coin-turk.com/wirex-bridging-traditional-banking-and-cryptocurrency/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Web3</a> landscape.
In conclusion, XRPL’s decentralized identity system and the role of XRP Coin in network security broaden the platform’s future use cases, allowing users to manage their digital identities more securely and controllably.
The post <a href="https://en.coin-turk.com/xrp-ledger-achieves-major-milestone-with-decentralized-identifiers/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP Ledger Achieves Major Milestone with Decentralized Identifiers</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

XRP Ledger Achieves Major Milestone with Decentralized Identifiers

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