Microsoft's latest blockchain project is called the Identity Overlay Network, which is designed to complete thousands of transactions per second, the company announced May 13 according to MSPoweruser.
The ION network is layered on Bitcoin-based blockchain technology. Microsoft developed the network with various blockchain partners.
Microsoft has been a big investor in blockchain. The company continues to pursue blockchain projects due to the added privacy it is designed to give users, MSPoweruser reports.
Microsoft is working to create digital identities that users can control. The company has developed identity hubs, which provider secure, encrypted storage of personal data, according to the report. These digital hubs rely on blockchain technology.
To read more about Microsoft's blockchain projects, click here.
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