On-Chain Decentralized Identity through Blockchain Technology
Ganga Bhattacharjee, Anoy Roy Chowdhury, Bijoy Kumar Mandal · 2024
A blockchain is a well-maintained organized distributed database where the incoming records are maintained in the form records called blocks. They are related with cryptography, where each block is linked together with the security link, where each block is connected with the previous blocks having a data transaction and timestamp assigned to each block. Here we have introduced the blockchain technology for proof checking to authenticate each individual, by providing high-end security algorithms, as it is noticed that as ever-increasing online transactions take place, ground-level authentication of identity of a person has become a critical issue. The transaction processing is done speedily, where the delay of transaction time is reduced from days to minutes. Blockchain transactions are considered to be faster than any other existing features as they reduce the time consumption of verification by the central authorities. As we all know, blockchain technology is most reliable to avoid frauds taking place in online transactions. In this chapter, we discuss about on-chain decentralization, where stakeholders’ and the third-party users’ control is relinquished and timestamp is maintained for each ledger or records.