Vietnam Explores NDAChain for Decentralized Identity and Digital Contract Verification Solutions
Main Idea
Vietnam's NDAChain blockchain platform, developed by the National Data Association and managed by the Ministry of Public Security, introduces decentralized identity and digital contracts to enhance the country's digital infrastructure.
Key Points
1. NDAChain is a layer-1 permissioned blockchain designed to improve cybersecurity resilience, scalability, and interoperability in Vietnam's digital landscape.
2. The network operates with 49 validator nodes managed by state entities and private companies like SunGroup and Zalo, ensuring a distributed ledger.
3. NDAChain utilizes a Proof-of-Authority (PoA) consensus mechanism enhanced by zero-knowledge proofs for security and efficiency.
4. A key feature is NDA DID, a decentralized identity solution that enables rapid verification of counterparty and service access.
5. The hybrid model of NDAChain balances governmental oversight with decentralization, addressing regulatory concerns while supporting sectors like e-government, finance, and healthcare.
Description
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