ERC725: self-sovereign identity standard for ETH released

Ethereum developer Fabian Vogelsteller creates Ethereum Request for Comment 725 (ERC725) on GitHub
12 October

Ethereum developer Fabian Vogelsteller created Ethereum Request for Comment 725 (ERC725) on GitHub. Despite the fact, that the project doesn’t even have an assigned Ethereum Improvement Proposal number, within 24 hours, the plan for a standardized identity system for humans and machines gained significant hype.

On GitHub, UX designer and fellow Ethereum Foundation member Alex Van de Sande called the ERC “very useful,” while suggesting some adjustments.

In an email to ethnews.com, Vogelsteller explaines, that “identity is certainly one of the most [important] missing pieces in the blockchain ecosystem". According to the creator, ERC725 solves quite a lot of problems. 

“This needs to be standardized so that other contracts can interact with real world identities, automatically check and verify them. It’s not mainly necessary for interfaces alone. Also, this contract represents ONE identity. The addition of claims needs to be standardized, so that other identities can issue claims about each other.
 

Fabian Vogelsteller
Ethereum Request for Comment 725 (ERC725) creator

As the man views it, crrently everybody collects all information about you separately to make sure they know who you are (e.g. banks, credit services, or any service which needs to have KYC). A standard will help insofar that everybody can auto check certain claims, and therefore don’t need to store actual details about you anymore, as they - as long as they trust the claim issuer – don’t need to have the actual information. The current over-collecting is because of lack of a better system.

On October 12th, Fabian Vogelsteller is to present ERC725 at the Ethereum London Meetup. What the future has in stock for it, remains to be seen, yet is is definitely worth monitoring.

Ethereum price chart on coinmarketcap.com
Ethereum price chart on coinmarketcap.com

Meanwhile, at the time of writing, Ethereum price is about $303.33, its market capitalization is $28,835,297,776.

Fake MyEtherWallet deleted from the AppStore

3000 users were able to download fake MyEtherWallet app
13 December

On 10th of December, a Twitter user reported about the spotted suspicious application of popular Ethereum wallet at Apple AppStore.

And it became known that the app is fake. It is worth noting that the app isn't free. The iOS app costs $4.99 and it first landed on the App Store just over a week ago. It allows users to create or import a wallet to store cryptocurrencies independently of an exchange.

Finally, the fake app was deleted. We wasn't able to find the official comments from Apple, but MyEtherWallet team is happy.

This is not the first and maybe not the last fake scammy-looking thing in cryptocurrency world. We can only recommend you to extremely careful everytime you deal with money.