The technological revolution
As the web advances and surpasses various traditional boundaries, the world is ready to use autonomous and smart systems based on blockchain technology. One of its revolutionary components is the advancement of online identity.
Our digital representation of data, reputation, and prominence in the digital realm is our online identity. Blockchain technology is still in its early stages and has yet to be completely developed and analyzed, but it has the potential to make online identity management more fascinating, secure, and versatile.
Even though cryptocurrency has been around for over a decade, it is essential to comprehend how blockchain alters society and changes the dimensions of ownership, control, and management for those unaware of these terms.
What is online identity?
Online identity means everything one possesses on the internet, including a website, URL, social network accounts, banking details, digital content, browsing preferences, and other uploadable online data such as wallet address, email address, NFTs, cryptocurrencies, etc.
Traditional walled online identities
The current depiction of online identity differs across social media platforms, financial websites, telecom networks, etc. On traditional Web2 and its walled operations, the concept of online identity operates a little differently.
Since an account and data kept in an Instagram account cannot be reflected on a LinkedIn account, the current condition of online identity and the concerns of individuals, organizations, and other operational bodies have been pretty obvious.
Similarly, the website we host on traditional Web2 is walled off with no interoperable service allowing users to have a single online identity. Moreover, email is undoubtedly a concern, and when we log in using our email ID, we have no control over what data the website may obtain.
This resulted in the creation of online identities based on blockchain technology to assist in resolving many existing online identity problems. Quik.com NFT domains are one core instrument that has a huge impact on the way online identity exists.
It deals with inaccessibility, data security, and interoperability. NFT domains allowed us to address the issue of fake fragmented identities by eliminating the need for many identities and making space for a single identity for all.
The impact of NFT domain-based online identity on society
Online identity in 2023 significantly differs from when users had to create an ID for each new application session. Users can now simply integrate their NFT domains to access applications that contain and combine all induced information, resulting in a single identity for all.
This results in better, faster, more secure, and interoperable solutions with a transparent reputation and identification of the user and its digital history. With potential advances, the NFT domain driven by blockchain technology can address the pressing challenges of identity management with ease and transparency.
Blockchain-powered online identity includes authentication mechanisms, embedded cryptography, and decentralized identifiers. Users must sign up for a self-sovereign identity and data platform to generate and register a decentralized identification.
The process involves generating a public-private public key, which users can store on-chain or cycle storage to prevent security issues. Those holding private keys can use this tool to prove ownership and control of a given online identity.
One person may have many decentralized identities, limiting the scope of surveillance through multiple actions in daily life. You can have many online identities for your business, personal use, and gaming.
But don't worry; decentralized identifiers include a set of attestations or verifiable credentials that validate the special characteristics of online identity in decentralized space. The issuers of verifiable credentials cryptographically sign the credentials identifying root holders.
Decentralized online identity owners can store credentials separately without relying on a single service provider. Cryptography is a technology that aids in the security of decentralized online identity hosting by using private-public key pairs.
The public key can be used to verify identity, while the private key can decode the communication linked with that identity. To gain access to specialized services, users could provide a QR code or a password to an identifier.
The identification would validate the proof of identity ownership and determine whether it relates to the user's decentralized online identity, the wallet. It requires NFT domains to make it human-friendly and immersive because it encrypts and communicates via complex blockchain addresses.
NFT domains are the new online identity of 2023, which can be tailored based on the user's needs, in addition to a commercial genre-based TLD such as dot-metaverse-based Metaverse domains or dot-doge-based Crypto Domains.
The advancement of technologies for protecting digital identities has attracted a plethora of applicants, including automation of robotic processes and machine learning, which has also created a space where, instead of assigning control of personal information to centralized servers, NFT domains assign management and control to the holding user, along with:
Security from centralized data possession
Security is one of the most important considerations for the future evolution of NFT domain-based online identities for businesses. Owing to its native blockchain technology, NFT domains contain the aspects of keeping data irreversible and protected from hackers.
It also provides security through cryptography in maintaining data and other information in online identification. Blockchain improves security and traceability by eliminating vulnerabilities induced by password protection.
Secured privacy from centralized ownership of “our” data
This is another key element of NFT domain-based online identity that pertains to privacy, as regulators feed arguments over protecting users' sensitive and private data. Blockchain's encryption and digital signatures would provide practical and reliable secrecy.
Digital signatures attached to all transactions can help make them resistant to changes and integrations. This means that the user owns the data, controls it, regulates data sharing, and is solely responsible for all the transactions and happenings within its NFT domain-based online identity.
Integrity and flexibility in surfing online
The NFT domain-based online identity method creates flexibility in retaining records of each identity across all network nodes. Continuous identity verification ensures the trustworthiness of data distributed via peer-to-peer networks.
To compromise the integrity of online identity data, hackers would have to go through the painful time of decrypting all blockchain blocks. This ensures that users are safe from being censored, controlled, or disconnected from any network.
The decentralized technology creates a streamlined experience for users to get autonomous control where they are the true owners without worrying about censorship, content blockage, data breach, etc.
The credibility of not being controlled
The primary benefit of NFT domain-based online identity systems is that they emphasize realistic enhancements in reputation. Blockchain-based systems store communication metadata in a distributed ledger, a consensus mechanism for validating data across all nodes.
Another interesting aspect of decentralized online identity is national identities across numerous agencies. Individuals seeking an autonomous space within the industry tired of centralized limits and laws should consider NFT domain-based online identity.
The most significant advantage of NFT domain-based online identity is user-centric simplicity. The framework may reduce the procedure connected with each client and offer a single identity for all where you decide what data to share. Our online identity is increasingly essential to human survival and social and economic well-being worldwide.
It is critical for users since it allows them to vote, control, own, and manage their abilities while engaging in all activities. The existing system's identity management issues highlight the growing need for NFT domain-based IDs, as discussed above.
Similarly, NFT domain-based digital online identity management projects like Quik.com and Unstoppable Domains are establishing a foundation for the future of online identity management and adoption, offering a platform for users to customize their identities.
NFT domains can contribute to creating a decentralized online identity and enable verifiable credentials to power a safe environment. Why wait when you can unite your decentralized online identities from many platforms into one online identity that you "own" and "control"?
Mint now and unlock your identity with NFT Domain!
