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Blockchains are decentralized cloud computers that enforce rules on a historical record. Bitcoin's rules are about managing a currency: how coins are issued, ho
by natrius 11y ago
Blockchains are decentralized cloud computers that enforce rules on a historical record. Bitcoin's rules are about managing a currency: how coins are issued, how to transfer them, etc. You can build a blockchain that enforces any rules, though, and Ethereum lets you define new rules without having to spin up your own blockchain.
Your identity will no longer be a key. It will be a pointer to a program and its associated storage on a blockchain. To identify yourself, give someone a proof that you control that identity. To add a new key to the identity, use the rules you put in place to add new keys. To change the rules that control the identity, use the rules you put in place to change the rules. You can build any rules for an identity management process into a program that runs on a blockchain. Through trial and error, we will discover the most resilient patterns with the least trust required.
- pjc50 11y agoAnd what happens when you lose your keys?
- obvio171 11y agoSolutions so far seem to boil down to either "trust other people" (multisignature wallets) or "trust your devices" (a la Keybase: https://keybase.io/blog/keybase-new-key-model https://keybase.io/blog/keybase-new-key-model ).
- natrius 11y agoAny recovery method can be built. Maybe your bank's key can authorize a new key for you. Maybe your government can. Maybe three out of five friends you picked can. It's better to start from the other side of the problem: how do you want to recover your identity?