Leveraging Decentralized Ledgers for Self-Sovereign Identity Management: A Paradigm Shift Towards Enhanced Security and User Privacy
Keywords:
Decentralized Identity Management, Blockchain Technology, Self-Sovereign Identity (SSI)Abstract
Contemporary digital identity management is centralized. They hold vast personal data, making them hackable. Breach and unlawful access to sensitive data destroy customer trust and attract regulatory scrutiny. Research suggests blockchain might decentralize identity management. Blockchain's immutability, transparency, and cryptography may provide users greater control over their data. DIDs, VCs, and Self-Sovereign identification in blockchain-based identity systems are examined.
Identity management changes with blockchain. Blockchain eliminates single points of failure by distributing identity data peer-to-peer. The distributed ledger system is immutable since all network participants can detect data chain alterations. Cryptographic hashing fingerprints data blocks to ensure integrity. Data integrity and identity management are protected by cryptography and immutability.
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