On-chain Reputation
SBT, DID, and so on
Last updated
SBT, DID, and so on
Last updated
Makalink has a decentralized identity system called Makalink DID Engine which enables personal data ownership, privacy, and convenience.
In the framework of Makalink DID Engine, individuals can have a digital identity containing all their information without trusting a third party to hold it, and no individual or institution can use these identities for any purpose without the express consent of the owner. People will be able to carry this digital identity with them as they travel through different cyberspace, showing their full selves. Regardless of the platform, what people create, contribute, earn, and own on the web reflects their preferences and experiences. This will bring us closer to the way things work in the physical world - property and reputation are about us, not platforms, and we can carry them around and use them as we please. At its core, Web3 social offers three main unique benefits compared to Web2:
First, asset creation and shared ownership: Web3 social applications can use blockchain to create a shared ownership structure with their users.
Second, open data and on-chain reputation: data and credentials accumulated on-chain are shared across the ecosystem.
Third, composable ecosystems: DApps built on smart contract blockchains like Ethereum are inherently composable, allowing developers to build on top of existing applications in a performless manner.
Let's focus now on the second point. Whether it's Defi credit scores or marketing and targeted airdrops, the importance of on-chain reputation is self-evident. In this context, how establishing on-chain reputation standards is very important, especially for new users who just entered Web3 how to evaluate is a difficult problem. In fact, it can be considered to combine the scene with the data of Web2, especially in the case that the number of users and public behavior data still account for a very small mainstream group on Web3. On the other hand, in the field of on-chain reputation, privacy is very important, and the combination of Zero-Knowledge Proof is a very important link. What is more, Makalink will use the SBT (Soul Binding Token) which is Vitavik's latest concept based on the vision of building a decentralized society (DeSoc), a Web 3.0 social identity bound to the user's soul. These non-transferable SBTS, held by "souls" (i.e., accounts), serve as the basis for building a Web 3.0 network of social relationships that are coded by tracking the "promises, credentials, and connections" of the "souls" along the chain. If a Token can be transferred easily, then those who don't have a reputation can simply buy it ", so in the future, the SBT could play a role as a reputation signal.
Makalink is investigating the use of SBT and DID to build a user's on-chain identity. What we currently call on-chain identity is just a string of letters or numbers that make up a wallet address, or a domain name. In essence, it is just identity information, like a person's ID card information in Web2. In real life, identity information can carry out different social behaviors, so as to correspond to different social roles and produce different social relations. Identity is a social network formed by multiple social roles.
The development of an on-chain reputation system is a very demanding field for both C-end and B-end, and I believe it will develop steadily in the future. The on-chain reputation system forms a variety of labels for users according to their various behaviors, such as NFT enthusiasts, traders, etc., and to a certain extent, the user portrait of Web3 is realized. One of the biggest roles of user portraits is the accurate matching and marketing of market supply and demand, and the improvement of ecological circulation efficiency and activity.
