How to obtain Web3 resident status, and what is the application value behind it?
Today’s cryptocurrency and blockchain technologies are becoming increasingly mature, and various applications are emerging in endlessly. Recently, I found a very interesting data on Dune Analytics, which shows that decentralized identity (Decentralized Identity, referred to as DID) has become one of the most hotly discussed topics in the past six months. In view of this, this article will delve into the resident identity of Web3 and the application value behind it.
What is DID?
There is a lot of information about Decentralized Identity (hereinafter referred to as DID) on the Internet. We can see relevant information, but many of them are also relatively technical articles, which may not be effectively understood by ordinary Internet users. mean.
DID, or decentralized identity, is an identity verification method based on blockchain technology that allows users to control their identity information without relying on any centralized organization. To give an everyday example, when you use social platforms such as Facebook, Instagram, and WhatsApp, your personal information will be stored on the servers of these platforms, and this data is actually controlled by Meta Company (formerly Facebook Company). This information not only includes your name, phone number, email address, etc., but also forms part of your digital identity. But there is no telling how these platforms will use your digital identity behind the scenes, let alone that they will provide and use our user behavior data as a large part of their revenue.
Under the architecture of DID, blockchain technology gives users complete control over their data and enhanced privacy protection. Taking the Ethereum blockchain as an example, users can use smart contracts to create unique wallet addresses that represent their digital identity without revealing any personal information. In addition, if users choose to disclose their personal information, they can decide independently what information to share in exchange for airdrop rewards and other benefits. The final benefits belong to the users themselves rather than to any organization or project.
What are some examples of DID and how can we create our own DID?
ENS (Ethereum Name Service) is a practical application derived from the concept of DID, which allows users to convert complex blockchain addresses into easy-to-remember names such as “yourname.eth”. Not only does this make addresses easier to remember and share, it also makes it easier for users to use their digital identity across multiple apps and services. On social platforms such as Twitter, many users choose to be identified by their ENS name, such as “ben.eth” or “ken.eth”, which becomes part of their Web3 identity. In addition, users can also sell their ENS names as NFTs, similar to the trading method of traditional domain names such as “.com”, thereby obtaining potential economic benefits.
Worldcoin is a highly innovative example of using biometric technology to ensure that each user has a unique identity. By scanning an iris, users can create a global and unique identity that can be used across a variety of Web3 applications. Worldcoin is currently going one step further by providing users with various airdrop rewards to encourage them to join the Web3 identity authentication ecosystem in order to promote the application of its technology and expand its user base. These airdrop rewards not only increase the appeal of participation, but also incentivize users to become part of the Web3 community.
What application value does DID have?
DID (Decentralized Identity) plays a key role in the Web3 environment, especially in building social application networks. For example, Lens Protocol and Cyber Connect both use DID to manage users’ social connections while ensuring privacy protection. These platforms operate with decentralized identity authentication, allowing users to share and communicate freely in the Web3 world without worrying about personal data being misused.
In addition, DID has also shown its value in work scenarios, with platforms such as Bondex allowing users to build a Web3 professional network similar to LinkedIn. Ensuring the authenticity and security of users’ professional profiles and identities through DID not only makes the recruitment process more transparent and efficient, but also enhances trust in workplace interactions.
In addition to professional and social networks, DID also supports Social Fi applications such as Farcaster. Users can publish personal content, make new friends, etc., and all information control is completely in the hands of the user. This autonomy greatly enhances users’ control over their own data, ensuring greater privacy protection and security, thereby improving the overall experience for users of the Web3 community.
