Hedera Network Welcomes Tuum Technologies’ Identity Snap for Seamless Decentralized Identity

• Tuum Applied sciences enhances MetaMask with Id Snap for DIDs and VCs on Hedera, selling self-sovereign id.
• The combination goals to foster broad adoption and streamline id administration throughout the blockchain ecosystem.

In keeping with the most recent Ecosystem Information from the HBAR Basis, there’s been a groundbreaking improvement on the Hedera community, marking a big development throughout the blockchain sector.

Tuum Applied sciences has introduced the mixing of Id Snap with MetaMask, concentrating on builders who’re eager on creating Digital Identifiers (DIDs) and Verifiable Credentials (VCs) on the Hedera community.

This collaboration represents a significant step ahead in selling the idea of self-sovereign id (SSI), which is essential to the Web3 imaginative and prescient of empowering people to handle their very own knowledge within the digital realm. View the unique tweet right here.

Self-sovereign id (#SSI) is core to the intersection of healthcare and web3 🔒

That’s why @TuumTech developed @Metamask Id Snap, introducing assist for Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs) on the @Hedera community 🧵 pic.twitter.com/dDOCLt17BT

— HBAR Basis (@HBAR_foundation) June 11, 2024

Id Snap serves as a complicated plugin that considerably upgrades MetaMask’s performance by introducing assist for DIDs and VCs, particularly designed for the Hedera community. It incorporates a user-friendly API that simplifies the creation of distinctive DIDs utilizing a non-public key and Hedera Account ID, addressing the trade’s challenges associated to unverified knowledge and restricted capabilities.

Strategic Progress and Adoption

The strategic choice by Tuum Applied sciences to make the most of Hedera’s strong infrastructure is motivated by its scalability and the continued efforts in DID improvement. This partnership with the HBAR Basis goals to increase Hedera DID possession all through numerous tasks, leveraging MetaMask’s intensive person base.

Trade leaders, together with Jim Nasr, CEO of Acoer, have endorsed this transfer, noting its potential to spice up the adoption of Hedera-based DIDs. Elaine Music, VP of Technique on the HBAR Basis, has expressed optimism in regards to the broad adoption this initiative might set off, pointing in direction of a brand new period of decentralized id that helps all on-chain actions.

Regardless of the optimistic developments, present market circumstances present a distinction to earlier optimistic forecasts by CNF, which speculated a value surge for Hedera (HBAR) probably reaching $1 in 2024. In keeping with the most recent knowledge from Coin Market Cap, Hedera (HBAR) is presently priced at $0.08954, with a lower of 0.14% previously day and 13.24% over the previous week.