The goal of the Veres One Network is to be public and permissionless, meaning that anyone may join and participate in the network to create and update Decentralized Identifiers via software applications such as digital wallets.
There are two mechanisms for creating and updating Decentralized Identifiers on the Network. One mechanism costs compute cycles (electricity) and the other costs money (USD).
The compute-based approach requires you to submit a request to the Network with an associated proof of work, which typically takes 6-9 hours for a software application to generate. Once the Network verifies the proof of work and comes to consensus, the Decentralized Identifier will be created.
The money-based approach is to pay an Accelerator to create a Decentralized Identifier, which happens as quickly as the Network can come to consensus (a few minutes).
Accelerator fees will be waived by the Board of Governors on a case-by-case basis for Accelerators that provide services to humanitarian causes such as:
- Refugee services
- Unbanked and Underbanked improvements
- Infant and Child Mortality improvements
Other humanitarian causes may be considered by emailing the Veres One Board of Governors at email@example.com.
Running an Accelerator
Approved organizations may run an Accelerator by following the instructions provided by the Veres One Accelerator Software.
Becoming an Accelerator
Since Accelerators hold a position of privilege on the Network, and because they collect money on behalf of the Veres one Project, they must go through an approval process.
To become an Accelerator you must:
- Log into your Accelerator.
- Go to "Administration/Accelerator".
- Fill out every field that is required, and agree to the Veres One Accelerator Agreement.
- Click the "Request Accelerator Credential" button.
An individual from the Veres One Project will check the information submitted and, if approved, will transmit the Accelerator Credential to your Accelerator. Your Accelerator Credential will not be active until you log back into your Accelerator and activate it.