“Changes in The Sovrin Foundation” – Tykn’s Statement

Tykn is one of the Founding Stewards – a validator node – in the Sovrin Network. A Self-Sovereign Identity network based on a public permissioned blockchain started by The Sovrin Foundation.

As you may have possibly heard/read by now, due to the recent economic climate, The Sovrin Foundation’s funding model became no longer viable and the Foundation will, until further developments, be relying upon a full volunteer staff.

Nonetheless, The Sovrin Network is operational. From the Sovrin Foundation Press Release:

  • – “Stewards, like Tykn, are operating validator nodes and transactions are being validated and added to the ledger.
  • Transaction Endorsers are writing credential definitions, public DIDs, and other ledger data on behalf of Transaction Authors.
  • Credentials are being exchanged and validated.
  • The Board of Trustees is functioning and carrying out their duties.
  • Various self-organizing governing bodies such as the Technical Governance Board, Governance Framework Working Group, and Steward Qualification Committee (SQC) are all functioning and carrying out their duties.

The Sovrin Network was designed to operate in a decentralized manner, independent of the Foundation staff and it’s functioning as expected.

This is one of the merits of true decentralised networks: if one of its parts stumbles, even if it’s the one that started it, the network continues on.

We are, and will continue to be, using the Sovrin Network on our mission to create a future of opportunity through digital identity. Because people matter.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.