Cardano’s Atala PRISM Revolutionizes DIDs: Unveiled Open-Core Adoption by Major Open Source Foundation - ELEVENEWS
Cardano, one of the most prolific layer-1 protocols is pushing forth its tentacles into the Decentralized Identity (DID) ecosystem. Through the Atala PRISM solution that is built on the Cardano, the protocol...
Cardano, one of the most prolific layer-1 protocols is pushing forth its tentacles into the Decentralized Identity (DID) ecosystem. Through the Atala PRISM solution that is built on the Cardano, the protocol is setting a whole new standard as it relates to the identity ownership for users, and organizations in the Web 3.0 ecosystem and beyond.
There are numerous ways in which blockchain protocol is aiding daily living through its key characteristics of data immutability which is now also being deployed to develop advanced DID solutions. Atala PRISM takes the bar to a whole new level. The protocol introduces a whole new approach to identity management.
Atala PRISM gives users complete control over their data and empowers them to decide who has access to the data or where it is being used. While it is built for businesses, organizations, and the government, Atala PRISM enables the sharing of information in a decentralized Peer-2-Peer (P2P) manner.
The Cardano-backed Atala PRISM is offering all of its target clients detailed and specific benefits as noted below;
Atala PRISM is for businesses, governments and individuals. Businesses can quickly onboard new customers, reduce compliance risks and costs, and deliver seamless user experiences. Governments can issue digital identities and enable instant access to public and private services. Individuals have ownership of their identity and data, and can control how their personal information is used and accessed.
Core components of Atala PRISM
The functionalities of the Atala PRISM decentralized identity solution can be accessed through some of the key components that the protocol has developed to aid its adoption.
Some of these components include a Mobile App that offers end users a customizable app for receiving, storing, and sharing digital credentials. Besides the mobile app, Atala PRISM has a Management Console which helps in the issuance and verification of digital credentials with the user-friendly, decentralized management platform.
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