What are DIDs? How can a DID be anchored by KEY?

Decentralised Identifiers (DID’s) are core infrastructure for a self sovereign digital identity system. A DID may be the keys or smart contract owned and controlled by the identity owner.

Potentially the most basic use of KEY with a DID - is associated with creating a DID with the SelfKey DID contract. This is to create a non-zero cost of entering the system to reduce the possibility of malicious actors joining the system. Using a smart contract as a DID enables more complex identity and key management such as recovery, rotation, revocation, delegation, etc - all of which are imperative features of an identity/private key management system.

This cannot be overstated - DID’s form the core layer of an identity system, KEY is critical to create a DID for a good reason. This alone places KEY at a critical position within the network - one designed to benefit the network, and HODLers alike.