Enter decentralised identity, a novel concept aimed at improving data privacy and user empowerment.
In this article, we will delve into the world of decentralised identity, describing its principles, important components, and how decentralised identity systems backed by blockchain technology are being used to transform the way we use the Internet.
Decentralised identity technology seeks to ensure that each individual has complete control and privacy over their identification information.
Blockchain technology serves as the foundation for decentralised identity solutions.
The decentralised nature of these public blockchains makes it extremely difficult for a centralised party to obtain control, modify, or alter the system.
A decentralised identification system relies largely on its underlying network, known as a trust system, which can be either a blockchain protocol or a non-blockchain protocol.
In the case of blockchain, the various independent nodes that maintain and update the blockchain ledger in a decentralised manner contribute to a trustless system.
Decentralised identification systems can also be implemented in non-blockchain infrastructure.
Nostr is a non-blockchain, open protocol that enables developers to build decentralised social media networks.
A decentralised identity system consists of two basic components: decentralised identifiers and verified credentials.
Decentralised identifiers: Decentralised identifiers can be compared to the existing use of email addresses and social media handles when logging into a website.
In contrast, each decentralised identification is intended to be globally unique and verifiable on any platform.
Decentralised IDs will allow users to erase data related to their ID. Verifiable credentials: Authentication of the decentralised ID is critical.
A decentralised identity system allows users to own and control their verifiable credentials.
Zero Knowledge Proofs: ZK proofs are arguably the most significant blockchain technology that provides decentralised digital identification solutions - at the time of publication.
ZK-proof decentralised identities enable personal verification and attestation without disclosing any personal information to third parties.
Simply provide your ZK-proof decentralised ID to authenticate your identity.
Decentralised identification could be the future, and it is likely to be in the best interests of internet users.
If decentralised identities are successful, they will not only allow us to avoid the data privacy issues that plague the web2 environment, but will also set a higher bar for data protection, privacy, and user empowerment.
Decentralised identification solutions, such as ZK-proof technology, have the potential to have a worldwide influence and disrupt industries spanning finance to retail.
This Cyber News was published on www.cysecurity.news. Publication date: Mon, 18 Mar 2024 14:43:07 +0000