Decentralization and web3 technologies

Korpal, Gaurish; Scott, Drew A.

doi:10.36227/techrxiv.19727734.v1

Cited by 10 publications

(7 citation statements)

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“…This control is manifested in various ways, such as participants controlling parts of the infrastructure like servers and routers, collaborators owning data in their own private data silos which is queried by the network during discovery, participants possessing the autonomy to decide the operational details of the network, what content needs to be publicised and what needs to be deleted etc. [8] In this context, a popular example of a centralised network would be Twitter which owns all the content that users publish on it, while an example of a decentralised network is Tribler, a peer to peer file sharing system which improves upon the BitTorrent protocol which enables users to share content with keyword search and boasts a reputation-management system to encourage collaboration. [21] Over the past decade, decentralised networks have received a reinvigorated interest due to the emergence in popularity of cryptocurrencies such as Bitcoin and Ethereum.…”

Section: Decentralisation and Decentralised Networkmentioning

confidence: 99%

“…[7] Even though the Internet was built on distributed protocols, large scale cooperation was consolidated around a few centralised services where social trust was created and enforced by large profit driven institutions. [8] Specifically, in two key functions of the web, web-publishing and discovery of content, technological institutions such as Google, Meta and Twitter slowly became curators and gatekeepers for the information being published on the Internet and people who were allowed to interact with it. As a result of this, the platforms accrued the power to control and own a large share of the information published and consumed on the Internet.…”

Section: Introductionmentioning

confidence: 99%

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The Universal Trust Machine: A survey on the Web3 path towards enabling long term digital cooperation through decentralised trust

Rohan¹,

Pouwelse²

2023

Preprint

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Since the dawn of human civilization, trust has been the core challenge of social organization. Trust functions to reduce the effort spent in constantly monitoring others' actions in order to verify their assertions, thus facilitating cooperation by allowing groups to function with reduced complexity. To date, in modern societies, large scale trust is almost exclusively provided by large centralized institutions. Specifically in the case of the Internet, Big Tech companies maintain the largest Internet platforms where users can interact, transact and share information. Thus, they control who can interact and conduct transactions through their monopoly of online trust. However, as recent events have shown, allowing for-profit corporations to harness so much power and act as gatekeepers to the online world comes with a litany of problems. While so far ecosystems of trust on the Internet could only be feasibly created by large institutions, Web3 proponents have a vision of the Internet where trust is generated without centralised actors. They attempt to do so by creating an ecosystem of trust constructed using decentralised technology. This survey explores this elusive goal of Web3 to create a "Universal Trust Machine", which in a true decentralised paradigm would be owned by both nobody and everybody. In order to do so, we first motivate the decadesold problem of generating trust without an intermediary by discussing Robert Axelrod's seminal research on the evolution of cooperation in the iterated prisoner's dilemma. Next, we present the infrastructural and social challenges that a hypothetical Universal Trust Machine would have to overcome in order to enable long term cooperation in a decentralised setting. We proceed to present various reputation systems, all of which present promising techniques for encouraging trustworthy behaviour in a decentralised network through indirect reciprocity. After this, we discuss the family of emerging Distributed Ledger technologies whose secure transaction facilitating and privacy preserving techniques promise to be a good complement to the current limitations of vanilla reputation systems. Finally, we conclude by discussing a future roadmap for creating the desired Universal Trust Machine.

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Section: Decentralisation and Decentralised Networkmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The Universal Trust Machine: A survey on the Web3 path towards enabling long term digital cooperation through decentralised trust

Rohan¹,

Pouwelse²

2023

Preprint

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“…Added data cannot be modified to keep the integrity of the chain. This mechanism will guarantee the trust of data without the need for a trusted third party [1]- [3].…”

Section: Introductionmentioning

confidence: 99%

“…Web 3.0 is driven by blockchain technology to make users' activity on the internet can be decentralized [3]- [5]. One of a problem with web 2.0 is privacy [1], [6].…”

Section: Introductionmentioning

confidence: 99%

Wallet-Based Authentication on College Information System

Elsen

Nashrulloh

Sutedi

2022

J. Tek. Inform. (JUTIF)

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Since the widespread use of cryptocurrency, blockchain technology start to be adapted in various applications. Some businesses are already adopting blockchain technology because of its advantages such as data integrity and privacy. One of them is Web 3.0. Web 3.0 puts forward data decentralization so that users can choose what data will be sent to the server. User data is provided locally with the help of a crypto wallet and the server just receives wallet info. With this mechanism, user privacy can be maintained directly by the user himself. All data will be processed at the users' end first before being sent to the server. With the new mechanism of web 3.0 and the advantages of blockchain, we build an application to authenticate students' login activities and grant roles to them based on their wallets. In this paper, we use the prototyping model as the method to build the application. We managed to utilize students’ wallet addresses as credentials. And with the help of Web3 module, we managed to decentralize the authentication process. And as a result of the successful authentication process, students can access their data based on their roles.

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“…Various technologies being developed under the web3 umbrella can help guarantee the delivery of physical assets. Such technologies include decentralized storage and dispute resolution protocols [25].…”

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confidence: 99%

NFT Certificates and Proof of Delivery for Fine Jewelry and Gemstones

et al. 2022

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Fine jewelry is a unique class of ornaments composed of precious metals and gemstones. Premium-grade metals such as gold, platinum, and sliver, and gemstones such as pearls, diamonds, rubies, and emeralds are used use to make fine jewelry. Paper-based certificates are typically issued by retailers and producers for fine jewelry and gemstones as a proof of origin, sale, ownership, history, and quality. However, paper certificates are subject to counterfeiting, loss, or theft. In this paper, we show how nonfungible tokens (NFTs) and Ethereum blockchain can be used for digital certification, proof of ownership, sale history, and quality, as well as proof of delivery for fine jewelry and gemstones. We present the proposed system design and architecture with sequence diagrams covering key interactions for jewelry production, purchase, and sale, along with algorithms related to NFT minting, auctioning, ownership management, and physical delivery. We demonstrate that our proposed NFT and blockchain-based solution can provide superior alternative in terms of verifiability, traceability, immutability, and security when compared with paper-based certification and traditional auctioning, delivery and ownership management. We make our developed smart contracts and testing scripts publicly available on GitHub.

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Decentralization and web3 technologies

Cited by 10 publications

References 0 publications

The Universal Trust Machine: A survey on the Web3 path towards enabling long term digital cooperation through decentralised trust

The Universal Trust Machine: A survey on the Web3 path towards enabling long term digital cooperation through decentralised trust

Wallet-Based Authentication on College Information System

NFT Certificates and Proof of Delivery for Fine Jewelry and Gemstones

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