This is an interim report between the quarterly status reports and yearly letter to the community.
Reminder: Our goal for 2021 is to become the de facto open source standard for gatekeeper-free DID & SSI solutions.
The last quarter was a success for our project and paved the way to the future. Staying on track feels good and we want to share the positive news with you as they come.
After our heavy sprints towards a production-ready DID implementation on our blockchain, in this phase we are catching up to make things more solid, complete, finish the developer portal and fix last issues and implement little details to optimize what we have. Also it is a kind of consolidation and preparation phase to build the foundation of what later should become the platform of choice for DID and SSI solutions.
First, let me explain more about our project:
What we are currently building
IOP (Internet of People) is creating a de facto standard for DID "Decentralized Identities" and SSI "Self-Sovereign-Identites" and implementing this without gatekeepers, no barriers of entry, open and free.
Ideally, we are steering to have a kind of a digital ID wallet, with all your DID cards and SSI (personas) inside.
Don't nail me here on the wording, I am sure this is still subject to change to make things more easy for the laymen in the future.
With the production-ready blockchain and a working platfrom for Smart Transactions, the coming weeks is the right time for projects to hook into the free IOP system, learn what you can do with SSI and Web-of-Trust and start build ultra cool Smart Apps.
IOP Hydra Blockchain
Project Hydra is a dPOS blockchain extended with a layer-2 consensus to provide a public ledger for IOP DAC.
Project Morpheus is a Decentralized Access Control framework based on W3C standards to store schemas, decentralized IDs (DIDs), keys, rights and proof timestamps on a ledger for public verification, keeping verifiable claims (VCs) off-ledger.
Project Prometheus is an umbrella project for applications that use DAC in any way.
There are many other projects, but they are currently on hold, we finish one after the other and focus on identity first, as this completely changes the way how dApps of today would work. I like to name our dApps "Smart Apps", as the "d" for decentralized is mostly an incorrect buzz word in other projects, while normal and standard in ours.
We are opposing a pure "Internet of Things" future. In our world we aim for a more human centered vision around the people, thus the name IOP (Internet of
What we are building is a whole ecosystem around Identities, a Web of Trust and Active Directory on (and off) blockchain.
We use the term DID for an android side; SSI for the humanoid side; WoT is a safe space for secure interconnections; and HYD is the transactional token to glue this alltogether and make it happen.
If you want to build a blockchain-enabled app and you have some ideas how decentralized identity can make your app fly - then now is the right time to start tinkering around with the IOP Stack and prepare for the future!
Of coure, we will publish a seperate article once the developer portal is published and we can present some demonstrations how to dive into the blockchain and identity world.
Ok, now let us dive into what happened two weeks and where we are heading to:
- We fixed the terminology in all our documents and software and found a consistent wording along all projects and match now the international de facto terminology around DID and SSI.
- We rolled out the latest 2.6.31 Hydra Core to everywhere with our latest DAC transaction types (DID operations) included. Yes, the DIDs run stable and nice in production.
- We wrote some user tests and made improvements of our Typescript SDK.
- We also worked on a significant reduction of our monthly infrastructure costs by at least 25-35% through conosolidation.
- A detailed roadmap is being created for the next quarter.
- Last, but not least, the specification of a Hydra webwallet is on the way.
The next upcoming weeks are all about following the new roadmap:
- finishing the user test/improvements of the Typescript SDK
- integrating the iop.global website and the developer portal into our cloud environment
- finishing the developer.iop.global portal
- R&D around the webwallet using a new UI technology similar to google's apps 😉
- Start writing webwallet, milestone 1: user can access their wallet under a url
- Extending the wallet with HYD transfer, backup, persona creation (SSI) & rights management
- create a pricing model for DAC transactions
- working on creating a developer starter bundle for selling (incl. SDK & Hydra)
As you can take away from above, we are now refining and tuning what we have, and focussing on building a developer environment plus a solid foundation for business.
We are aiming to get a full-fledged ecosystem allowing blockchain and app developers to enter our domain and build some crazy apps that are smart and helpful in the next quarter.
If you think, all that makes a lot of sense and you like to get a stake in the open network that we are creating, then now is the best time ever. Everybody can acquire a small number of Hydra tokens anonymously on SimpleSwap.
Our long term partner and coin swap exchange of preference helps the community to auction Hydra tokens in a trusted and anonymous way. If you want to support the IOP Global development and get a stake in this ecosystem, you can get your hands on Hydra Tokens here.
We have created a one time - last opportunity - to get your hands on the transaction tokens for an investor price. Two things are going to happen from this week-end:
1. Token Price raises
Sunday night, or Monday morning, the 4th of May, we are raising the token basis price in our auction up to 5 cents.
So, with the range between 6 cents down to 5 cents it doesn't matter much anymore, if you buy at Saturday evening or Sunday morning. The difference is marginal enough, that we don't expect from anymore to sit until 23:59h in front of the auction and hope to get a reasonable amount for a good price. This was fantastic in the beginning, but now we are growing out of this. Investors can jump in anytime from Friday evening to Sunday whatever time and enjoy a relatively similar basis price.
Again, until Sunday night 23:59 UTC+0, this is the last time you can buy Hydra for as low as 3 cents.
2. Lottery during the month of May
And now it comes even better: From Friday, the 1st of May (while we are still for the last time in the 3 cents basis-price range) we start together with our partner SimpleSwap a lottery system:
The Hydra lottery system will randomly pick 3 wallets from all HYD buyers over a one month period and the lucky winners will get:
- 1st – 100% bonus
- 2nd – 50% bonus
- 3rd – 25% bonus
You buy this week-end the last time at 3 cents, later in May again at 5 cents.
End of May we do the lottery over all different wallets, not different buys. So if your wallet bought at 3 and at 5, and you win 100% bonus, the price could be as low as 1.5 cents to 2.5 cents.
SimpleSwap is part of this program, too
On top of that, the first 50 customers purchased HYD will also get 400 SWAP from our partner SimpleSwap!
Just enter the promo code HYDRA&SWAP and your ERC-20 address to take part.
Now that we have a production-ready foundation, we think it is time to change the website and its design to something more professional. We will publish updates soon and hope you will like if we go for a more enterprise looking approach.
Offering developer bundles
We want to give companies and "customers" in the new developer portal the opportunity to get hydra quickly and easily in order to be able to use the infrastructure.
Selling "bundled packages" to the companies might create some revenue. We imagine at this time something like a starter package SDK+Hydra and an enterprise package SDK+Hydra+PlusSupport.
Buying back tokens
If things go well, we might implement something like a token-buy-back service which is funded by those developer portal revenues.
If the sale of a Developer Bundle (Starter Package, Pro Package, Enterprise) proves successful, then we would use a part of this income to buy back Hydras from the market at a significant higher price than currently in the token sale.
As soon as everything is final, there will be of course a report with all the details.
Despite the current crisis, we are looking positive into the next quarter, especially with a strong Bitcoin raising along. The open source project is stronger than ever. Looking at the IOP company, we are planning to offer business services on top of this platform and hope profitable as soon as possible.
Please, look out and ask around, tell people that we are the only production-ready open source and free platform offering DID & SSI - so far all competitors are more restrictive and more expensive and not censorship resistant.
To your freedom.