Identity Protocol Provider Onename to Utilize Bitcoin
Onename, an open-source protocol provider which creates secure and trustless identities on the blockchain network has announced that the platform will switch from namecoin's blockchain to bitcoin at the Blockstack Summit 2015. The company's co-founder Muneeb Ali explained, "Namecoin is not secure," because of one mining pool's dominant control over the Namecoin mining network. According Onename co-founder Ryan Shea, one of China's largest mining pools Discus Fish (F2POOL) controls over 60% of the entire Namecoin network's hashing power. "A single mining pool has 67% of the hashpower on....
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The Openname protocol was built by Onename and allows users to create an identity, verify it, and use it across the internet. The service acts like a digital passport and allows people to easily send Bitcoin to users of Openname. Onename has announced super decentralization of the Onename protocol by giving up their monopoly on users. Users of the protocol will be able to select a provider for authentication purposes, thus making the authentication process decentralized. Onename has also raised $1.5 million in funding. Also read: The Upcoming Decentralization Singularity. In addition to....
Open-source identity protocol provider OneName announced a forward-looking roadmap this week that will see it extend more open-source software to developers as it bids to disrupt the existing online authentication process. The blog post follows a relative period of quiet for the project, which debuted its social solution for bitcoin addresses this March. Though the Openname tool garnered widespread use in the community, OneName said it now intends to move beyond simply providing a domain name system for bitcoin toward offering an entire suite of tools for online identity. Perhaps most....
Blockchain startup Onename launched its new product Passcard this week, which uses a blockchain-tied profile to create a secure and "trustless" identity. Onename plans on eventually using it as a sort of digital key to your identity, potentially replacing passwords, the keys to your house and even your passport. Onename takes advantage of Bitcoin's distributed ledger, the blockchain, which is used to record and verify bitcoin transactions. It is what enables the digital currency to properly function and can also be used to record any kind of information in a public ledger. "Passcards are a....
The startup Onename made a big announcement on September 12 at the Blockstack Summit 2015. Co-founder, Muneeb Ali, revealed during his lightning presentation that the Namecoin network is not decentralized and the mining group Discus Fish controls 60-70% of its hashing power. In result, Onename will be switching from Namecoin’s blockchain to Bitcoin. During the Blockstack summit, Ali revealed this information to the crowd and explained the company's decision to the audience to move the project and its “32,000 uses” from Namecoin to the Bitcoin blockchain. Onename is a tool that had used the....
Onename founders Ryan Shea and Muneeb Ali were recently interviewed on an episode of Epicenter Bitcoin, and the early portion of the conversation focused on the duo’s overall goals for their blockchain-based identity system. While most people see Onename as a company for online identity and login verification, Shea and Ali’s vision goes far beyond that. The New York-based team see their project as a way to help redecentralize the Internet by giving people a form of online ID over which they have complete control. Shea and Ali expanded on these points during their discussion with Epicenter....