“As our data and metadata become more of a commercial source of monetization for third parties, we have less control over how our identity is represented in the world. The mission of LifeID is to give everyone the set of tools they need to allow them to control all of the data that they use in every transaction.”<\/p>\n<\/blockquote>\n
Through the LifeID platform, users can manage their identity information and process “verified claims” on other decentralized applications (dApps) or blockchain networks. Verified claims prove user information is accurate in any online interaction requiring identity input.<\/p>\n
Depending on the context, creating identity claims requires a small fee due to transaction (gas) costs. According to Shane:<\/p>\n
\n“The fee schedule is based on blockchain transaction as well as giving back to developers who wrote the application to send the transaction to the blockchain. As a result, yes there are some fees there, but they are much lower than existing fee structures.”<\/p>\n<\/blockquote>\n
LifeID will launch on the RChain testnet and fully transition to the RChain\u00a0mainnet in the future. Due to the scalability benefits, LifeID\u00a0has decided to build its long-term infrastructure on a third-generation smart contract platform with higher transaction speeds and throughput.<\/p>\n