What is decentralized identity in blockchain?

Self-sovereign identity is a concept that refers to the use of distributed databases to manage PII. The notion of self-sovereign identity (SSI) is core to the idea of decentralized identity. Instead of having a set of identities across multiple platforms or a single identity managed by a third party, SII users have digital wallets in which various credentials are stored and accessible through reliable applications. Experts distinguish three main components known as the three pillars of SSI: blockchain, verifiable credentials (VCs) and decentralized identifiers (DIDs). Blockchain is a decentralized digital…

Surge or purge? Why the Merge may not save Ethereum price from ‘Septembear’

Ethereum’s native token, Ether (ETH), is not immune to downside risk in September after rallying approximately 90% from its bottom of around $880 in June. Much of the token’s upside move is attributed to the Merge, a technical upgrade that would make Ethereum a proof-of-stake (PoS) protocol, slated for Sep. 15. But despite logging impressive gains between June and September, Ether still trades almost 70% below its record high of around $4,950 from November 2021. Therefore, its possibility of heading lower remains on the cards. ETH/USD weekly price chart. Source: TradingView Here…

Web3: Market Turmoil Highlights Need For a Unified Approach to Regulation

Rapid growth in blockchain technology and rising demand for Web3 applications has attracted the attention of global policy makers and regulators. While regulation is key amid market turmoil there are concerns that a heavy-handed approach could hinder innovation. The collapse of certain crypto ventures and a broader selloff in financial markets has led to market uncertainty and highlights that the right regulation is needed now more than ever. But securing a regulatory world that allows crypto and Web3  – the next-gen decentralised internet – to fulfil its potential will take…