The Elastos ID Sidechain node Version 0.1.0 is live on the Elastos mainnet, enabling the launch of DID 2.0. One of the most powerful and promising core technologies in the Elastos tech stack, DID 2.0 has been designed to serve user and enterprise-level use case scenarios, with the cardinal aim of achieving adoption at scale. In addition to bringing forward a breadth of new features, DID 2.0’s initial launch on the brand new Elastos ID Sidechain (EID) will draw on a new consensus mechanism to provide vastly improved performance to users with more features rolling out over the course of 2021.
DID 2.0: Upcoming Features
With this release, DID 2.0 supports the creation, update, and cancellation of basic DID functions. In upcoming version releases scheduled for later this year, DID 2.0 will be augmented to support a complete palette of features:
→ Support for Customized DID Identifiers: In place of the current hash-based Base58 Identifier, customized DIDs make for a user-friendly DID experience that will give DID 2.0 a leg up on the competition as it advances toward adoption.
→ Support for Multi-Party DIDs: Multi-party DID ownership and multi-signature DID document management open up a number of critical use case scenarios for enterprises.
→ Support for DID Transfer (for Customized DID Identifiers only): DIDs can be both owned and transferred, and thereby become stores of value.
→ Support for Independent Release of Verifiable Credentials: An independent release feature enables users to maintain their privacy when engaging with platforms that require DID-based verifiable credentials, so users can share information selectively and privately with particular institutions and in enterprise-specific use case scenarios.
→ Support for Search and Analytics Functions for Public Credentials: Public credentials issued on-chain can now be profiled and analyzed.
The EID Sidechain: Consensus Modifications and Enhanced Performance
In addition to augmenting advanced features and enabling customization, preparing Elastos DID 2.0 for adoption also requires significant improvements to performance. The EID Sidechain was developed specifically to address and enhance performance, so that users and enterprises can benefit from Elastos’ decentralized DID solution with the seamless user-experience they have come to expect in Web2.0 applications. Here is what the EID Sidechain is bringing to the Elastos ecosystem and beyond:
1) Modified Consensus – Pure DPoS: Previously, the DID Sidechain used a hybrid consensus mechanism (AuxPoW + DPoS). While a robust form of consensus, AuxPoW imposed significant restrictions on the DID Sidchain’s block time. For this reason, the EID Sidechain’s consensus has eliminated AuxPoW, and operates as a pure DPoS chain. It should be noted that by implementing a pure DPoS consensus, the EID Sidechain maintains all the advantages of a reduced block time without sacrificing security, stability, or scalability.
2) Accelerated Block Times: The average block time on the previous Elastos DID Sidechain was 2 minutes, and DID transactions often required up to 3 blocks to be fully confirmed and signed. The EID Sidechain’s consensus modification shortens block times dramatically – from 10 minutes down to 5 seconds – thereby vastly improving performance and accelerating DID transactions. The result: a second-to-none DID user experience.
3) Dynamic and Flexible Transaction Fees: The EID Sidechain utilizes dynamic and flexible rules for calculating DID transaction fees – especially in regards to customized identifiers. Each DID transaction fee is determined by a number of factors, such as the length of a custom DID Identifier, its term of validity, the file size of any involved documents, the number of controllers and/or relevant multi-signature parties, and more. To create a just and equitable fee model, transactions involving customized DID Identifiers and large DID document files will command larger fees. In addition to providing a fair method for calculating DID transaction fees, DID’s new economic model will also generate a new income source for DPoS nodes to supplement block rewards.
Notes for Users
Data on the original DID Sidechain has been successfully migrated to the EID Sidechain, and users are now able to transition directly to the EID Sidechain and explore its advanced DID functions. Going forward, the data on the previous DID Sidechain will no longer be maintained, and users should transfer all assets stored on the previous DID Sidechain to the Elastos mainchain at their earliest convenience.
Below are the relevant specs for the EID Sidechain:
Chain ID: 22
Block time: 5 seconds
RPC URL: https://api.elastos.io/eid
EID Node Download Address: https://download.elastos.org/elastos-eid/elastos-eid-v0.1.0/
To keep up with the development progress of DID 2.0 and the EID Sidechain as the Gelaxy team releases further updates and adoption initiatives take form, make sure to stay tuned here on the official Elastos Info Blog.
For more information on decentralized identifiers (DIDs), check out Donald Bullers definition for CoinMarketCap’s glossary: https://coinmarketcap.com/alexandria/glossary/decentralized-identifier-did