Bitcoin – https://bitcoin.org/en/how-it-works
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Don & Alex Tapscott, authors Blockchain Revolution (2016)
For a deeper understanding of “What is a Blockchain?”
Blockgeeks.com has a solid introduction definition in their Blockchain Guide. Don Tapscott’s (“author of The Blockchain Revolution”)TED Talk is an excellent resource as well at a business level.
Michael Casey, another pioneer and leader in the Blockchain space, delivers a similar yet deeper perspective of Blockchain in his “The Truth Machine” speech at MIT in late 2017, is a must watch.
A Blockchain has four key elements that makes is different than a typical database. Four key points of value.
- Consensus. Before a transaction is accepted into the blockchain, all parties to the transaction must agree to it. This ensures that only authorized transactions are recorded.
- Provenance. Because the transaction ledger maintains a complete history of all events associated with the asset, the history of the asset is easily viewed and the ownership of the asset is easily proven.
- Immutability. Once a transaction is recorded in the distributed ledger, no party can change it because the transaction is encrypted. If a transaction is recorded in error, a new transaction must be entered to reverse the error.
- Finality. The distributed ledger becomes the single point-of-reference for determining the ownership of the asset or the history of the transactions related to the asset.
Decentralized Identity – https://medium.com/decentralized-identity/the-rising-tide-of-decentralized-identity
Decentralized Identifier (DIDs)and Decentralized Identity Management (DIDM) – Github Web of Trust ID2020 DID Whitepaper
What is Self-Sovereign Identity?
DID Foundation definition: self-sovereign identity, which can be defined as a lifetime portable digital identity that does not depend on any centralized authority
“Self-sovereign identity puts people in charge their own digital identities. It means that individuals have choice and sovereignty over their digital selves to the same degree we have control over our physical selves. This aligns with the fact that we all have inherent dignity that does not come from being born in a certain place or with certain attributes other than being human.” – @IdentityWoman – Kaliya Young
Kaliya Young is one of the authorities and Self-Sovereign Identity Management experts Her blog is highly recommended. Kaliya’ SSR definition can be found here: https://identitywoman.net/self-sovereign-identity/