Decentralized identity (DID) and verifiable computation infrastructure that allows user identity verification without disclosing your real identity — It proves who you are, without telling who you are! Why they are important for blockchain users?

Decentralized identity (DID)

Decentralized identity (DID) is a key concept in the field of blockchain technology, as it allows individuals and organizations to have control over their own digital identities. This is in contrast to traditional systems, where a central authority, such as a government or a corporation, controls the issuance and management of digital identities.

Having control over one's own digital identity is important for a number of reasons. First, it allows individuals to have greater control over their personal information and who has access to it. In a centralized system, a central authority controls the issuance and management of digital identities, and this authority may not always have the best interests of the individual in mind. With DID, individuals can choose which information they share and with whom, giving them greater control over their personal data.

Second, DID can help to reduce the risk of identity fraud. In a centralized system, a single point of failure can lead to the compromise of many identities. For example, if a government database containing the personal information of all its citizens is hacked, the hackers could potentially gain access to the personal information of millions of individuals. With DID, each individual has their own unique digital identity, which is stored on a decentralized network. This means that there is no central point of failure, making it much more difficult for hackers to compromise multiple identities at once.

DID can also help to foster greater trust and collaboration between individuals and organizations. In a centralized system, individuals and organizations must trust the central authority to accurately and securely manage their digital identities. This can create a barrier to collaboration, as individuals and organizations may be hesitant to share sensitive information with each other due to concerns about security and privacy. With DID, individuals and organizations can verify each other's identities directly, without needing to rely on a central authority. This can help to foster greater trust and collaboration among network participants.

EXAMPLE — In the world of web 2, all users’ identity data are stored centrally. In 2016, Yahoo announced that 3 BILLION user accounts had been breached in a series of cyberattacks. 3 BILLIN users data were leaked and stolen by hackers! With a DID infrastructure, it will never happen!

Verifiable computation

Verifiable computation allows for the creation of secure and private transactions on the blockchain. One of the key features of blockchain technology is its ability to enable secure and transparent transactions between parties without the need for a central authority. However, this transparency can also be a drawback, as it may not always be desirable for all transaction details to be publicly visible. For example, in the case of financial transactions, individuals may not want their transaction history to be publicly visible, as this could compromise their privacy.

Verifiable computation infrastructures, such as zero-knowledge proof systems, allow for the creation of secure and private transactions on the blockchain. These systems enable users to prove the correctness of a computation without revealing the underlying inputs, allowing for secure and confidential transactions on the blockchain. This is important for ensuring the privacy and security of transactions on the blockchain, which is a key concern for many users of the technology.

In addition to enabling private transactions, verifiable computation can also help to improve the security and reliability of the blockchain. By allowing users to verify the correctness of computations without revealing the underlying inputs, verifiable computation can help to ensure that transactions on the blockchain are accurate and reliable. This can help to build trust in the blockchain and increase its overall security.