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If hosts are being securely verified, then that could also be used to verify who you are chatting with...hence to have identity verification.
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Actually, I had a discussion with a few others regarding user verification for chat purposes. It can work, but since specs exist on "quick and dirty" writings only right now, it'll be a while before this can be achieved. In the meantime, one could indeed use LimeWire's method instead, until a better mechanism is being used.