Owning our personal data is both a human right and the unlock to online experiences that improve our lives and cyber safety. Verida, a privacy-first self-sovereign data network for web3, is making this possible.
This week, Verida announces its upcoming incentivized testnet. The testnet is designed to provide users with an opportunity to try out the network’s functionality, offer feedback, and earn rewards for their participation.
Subscribe to receive updates so you won’t miss out on our first user campaign! You can also join our self-sovereign community today to be involved in our conversations.
Our journey so far
The Verida team has built the leading decentralized self-sovereign identity tech stack over the past two years and is excited to open up access to a rapidly growing ecosystem of users, builders and partners.
We have researched, developed and deployed:
- Verida Wallet, an award winning self-custody web3 “super-wallet” mobile application on iOS and Android that supports decentralized identity, crypto, encrypted personal data, and a secure data inbox.
- Verida DID method (deployed on Polygon) which solves many critical issues with existing identity solutions to provide a fast, low cost decentralized identity viable at scale.
- Verida DbStore, the first truly self-sovereign encrypted storage solution for web3 that is the backbone of the Verida network and manages user-controlled, encrypted, private data for individuals.
- A collection of smart contracts, deployed on Polygon, that decentralize the critical components of identity, discoverability and network infrastructure for the Verida network.
- An incredibly powerful client SDK library for developers that enables web, mobile and server applications to leverage identities and self-sovereign storage on the Verida network.
- A decentralized single-sign-on toolkit that optimizes the user experience for new users and seamlessly unlocks access to encrypted data and a multi-chain blockchain wallet.
- A fast, encrypted, self-sovereign data testnet, running for 18 months, and recently decentralised via the Acacia testnet.
- Verida One (private alpha), a decentralized platform for individuals to manage all their identities and personal data in one place.
- A credentials incubator program, launched almost twelve months ago, and now helping multiple projects bring their credentials ecosystems to market.
We are now preparing for our mainnet, so it’s time to reward our community members for helping put the Verida testnet through its paces.
Bringing the Verida testnet to you
The incentivized testnet will rollout over several phases, each with their own campaigns. Our first phase will be focusing on end users, allowing them to install the Verida Wallet and progress through different campaigns designed to battle test the Verida network.
In future phases, the team will work closely with storage node operators and application developers to further decentralize the Verida network and build a world leading onboarding experience for web3 builders.
Why participate in the Verida incentivized testnet?
Verida’s mainnet launch is slated for mid 2023. In the leadup, the team plans to accelerate growth to onboard users, application developers and node providers onto the network. Early participants who contribute to the incentivized testnet will be rewarded with Verida’s native protocol token, VDA — redeemable for mainnet tokens upon launch.
More than 60% of the Verida token supply is dedicated to rewarding ecosystem participants for supporting the network rollout. A portion of this token supply will be set aside for the incentivized testnet.
What can you do?
As a user during the incentivized testnet, you can explore the many features of the Verida network and applications. You will create decentralized identities, reclaim your personal data stored in centralized platforms and unlock early access to new applications. You will download the Verida Wallet and experiment with the decentralized social platform, Verida One.
We will provide more details over the coming weeks as each campaign is announced.
What is the VDA token?
The native token of the Verida network (VDA) creates a data economy enabling secure interactions between accounts to facilitate secure data storage, trusted sharing, fast querying and secure messaging.
The Verida network is a self-sovereign “user-pays” model, whereby users pay for their own storage needs. In this way, “access to user data” is not the product, rather the product is the “security and protection” of user data.
Storage node operators must stake VDA tokens in order for their nodes to be discoverable on the network and be available for selection by end users.
The Verida token plays an important role in bootstrapping the network by incentivizing and rewarding users for connecting their identities and data, while rewarding storage node operators for providing storage infrastructure to end users.
The Verida Data Economy
VDA has a fixed total supply of 1 billion tokens. Creating a native token allows for the design of economic incentives in the Verida network that provides control over the setting of monetary policy and equitable rewards for all network participants.
How can you participate?
Every individual has personal data to reclaim. Verida’s infrastructure will impact millions of lives. For this reason, we should all have a say. The incentivized testnet is open to everyone and all, interested in privacy-focused data management on web3.
More information will be posted on our blog in the following weeks as the Verida team prepares to launch the first user campaign. Subscribe to receive updates and join our self-sovereign community today.
This is an opportunity to contribute to a solution expected to change the nature of data on the internet. It’s about time! Join the data decentralization movement and create consensual, empowering online experiences for all.
Network Launch Schedule
- Verida Acacia Testnet — Live
- Verida Incentivised Acacia Testnet — May 2023
- Verida Myrtle Mainnet — Q3 2023
Own your digital identity
We’d like to take this opportunity to express our gratitude and thanks to all our community members for your interest, engagement and commitment. The Verida network is open for all, and we encourage you to bring your friends and colleagues as we embark on the next phase of the Verida network.
Learn more about Verida
- Build on the Verida Network
- Download the Verida Wallet
- Join the Verida One wait list
- Follow us on Twitter
- Join the conversation on Discord
- Explore developer documentation
- Ask us a question on Telegram