Altcoins Talks - Cryptocurrency Forum
Further Discussions => Blockchain Technology => Topic started by: davidgeller on December 13, 2023, 11:25:24 AM
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Blockchain identity management addresses privacy concerns through a combination of decentralized architecture, cryptographic techniques, and user-centric control.
Decentralization- Blockchain distributes digital identity information across a network of nodes, eliminating the need for a central authority to control and store sensitive data. This decentralization minimizes the risk of a single point of failure or data breach.
Cryptography- Advanced cryptographic methods, such as zero-knowledge proofs, are employed to allow users to prove the authenticity of specific information without revealing the actual data. This enhances privacy by ensuring that only necessary details are disclosed during identity verification.
User-Centric Control- Blockchain-based identity management systems often follow the principles of self-sovereign identity, granting individuals greater control over their personal information. Users can manage access permissions, selectively share data, and maintain ownership of their digital identities.
Immutable Record- Once data is recorded on the blockchain, it becomes tamper-resistant and immutable. This feature ensures that identity information cannot be altered or manipulated without consensus from the network, enhancing the integrity and security of personal data.
Selective Disclosure- Users can selectively disclose specific attributes or credentials for a particular transaction or interaction, reducing the exposure of unnecessary information and maintaining a principle of least privilege.
Blockchain identity management prioritizes privacy through various ways. These features collectively contribute to a more secure and privacy-centric approach to identity management. It is recommended to connect with a well-established company that specializes in crafting blockchain identity management softwares.
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Identity management using blockchain is complex and expensive, and there are open source alternatives that provide many options, as the following alternatives can be used:
- Zero-knowledge proof can be used without the need for a blockchain.
- When data is recorded on the blockchain, it becomes tamper-proof, which is not a good feature, as sometimes we need to change some data and add pictures, especially for children, whose appearance may change as they mature.
- Privacy can be gained by hashing or by any other method.
On the other hand, the cost of securing data is large, and not everyone will be able to RUN full node, which makes it centralized.
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On the other hand, the cost of securing data is large, and not everyone will be able to RUN full node, which makes it centralized.
Addressing your concern about the cost of securing data and the challenges of running full nodes, it's true that these are practical considerations. However, as technology evolves, solutions are emerging to make blockchain more accessible and cost-effective.
Moreover, the potential for hybrid approaches, combining the strengths of blockchain with off-chain solutions, holds promise. This could provide a balance between security, privacy, and affordability, making blockchain identity management more practical for a broader range of users.
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Moreover, the potential for hybrid approaches, combining the strengths of blockchain with off-chain solutions, holds promise. This could provide a balance between security, privacy, and affordability, making blockchain identity management more practical for a broader range of users.
The solutions currently proposed can serve the purpose, but since there are centralized solutions that are more efficient and perform the required work, there is no need for decentralization, especially if centralization is expensive. It is true that over time the cost will decrease and the current problems will be addressed, but unless an effective and reliable system appears, do not expect people to choose Blockchain or decentralized solutions.
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Moreover, the potential for hybrid approaches, combining the strengths of blockchain with off-chain solutions, holds promise. This could provide a balance between security, privacy, and affordability, making blockchain identity management more practical for a broader range of users.
How can you prove that your solution is worth the trade-off though? Just like what is shown above, some people value cost effectiveness more than anything, including privacy if it means they have to pay a hefty amount to store their encrypted data on the internet. I do agree that blockchain seems unnecessary if what you upload is basically a hash of your ID data, can't IPFS provide the same level of security? Or do you think IPFS will encourage more people to 'steal' the encrypted data compared to blockchain miners?