Hydraledger (HYD)

Hydraledger (HYD) is more than just a cryptocurrency. It serves as a decentralized, permissionless, cross-chain infrastructure for self-sovereign identity. By utilizing Distributed Identifiers (DID) and Self-Sovereign Identity (SSI) technologies, Hydraledger offers a decentralized, permissionless, shared-ledger and cross-chain technology for secure identity verification. It aims to reverse the centralization and indiscriminate commodification of data that has become prevalent in today’s digital world, providing transparency, control, and accessibility to users.

Hydraledger’s self-sovereign identity framework is built on W3C standards, providing solutions for SSI and storing decentralized IDs (DIDs), keys, rights, and proof timestamps on a ledger for public verification. This framework ensures the secure and verifiable storage of verifiable claims (VCs) of the ledger. Hydraledger is a community-driven project that addresses societal imbalances resulting from decentralization in various aspects of society. The name “Hydra” was inspired by the Greek mythical creature, symbolizing the immortality of a truly decentralized brand.

Hydraledger’s utility token, HYD, plays a crucial role in advancing the authorization and protection of personal information. With the realization that once-trusted third parties may not be as trustworthy anymore, Hydraledger has developed decentralized protocols and tools to ensure secure identity verification of self-sovereign identity. By making its technology accessible to other blockchain users, Hydra’s blockchain allows the use of DID and SSI solutions, empowering individuals and organizations to have full control over their digital identities and communication with enhanced security and privacy.