A Decentralized Identifier Registry (DID Registry) is a system that stores unique identifiers for entities, such as individuals, organizations, or devices, on a blockchain or distributed ledger. These identifiers are known as DIDs and are used to enable decentralized identity management.
In a DID Registry, each entity has its own unique DID, which is a globally unique identifier that enables authentication and verification without relying on a centralized authority. DIDs are self-sovereign, meaning that the entity has control over their own identity and can manage it independently.
A DID Registry ensures security, privacy, and interoperability in the management of digital identities. It enables entities to prove their identity and establish trust without relying on a third party. By using a blockchain or distributed ledger, the registry ensures immutability and transparency of the data stored within it.
Overall, a Decentralized Identifier Registry plays a crucial role in the development of decentralized identity systems in the cryptocurrency ecosystem, empowering individuals and organizations to take ownership of their identities and enhance security in online transactions.
