The third generation of the internet, or Web3, is one of the most talked-about technological developments in recent memory.
While its precise nature and arrival are still up in the air, there is widespread agreement that the password will be rendered obsolete by the World Wide Web 3.0. No more trying to think of a secure password that uses a random combination of upper and lowercase letters, numbers, and symbols.
How then shall we get entry to it? And what guarantees do we have that this entry is protected?
Experts agree that next-generation authentication methods made possible by zero-knowledge encryption and proofs are the key.
Alex Pruden, CEO of privacy platform company Also, stated that “Zero-knowledge encryption is a critical technology for realizing the potential of Web3.” This is the most significant emerging technology, yet virtually no one is discussing it. (Zero-knowledge) will revolutionize every aspect of our internet experiences, from authentication to machine learning, from shopping to playing games.
The question is, what exactly is zero-knowledge encryption?
- Data is protected using random user keys in zero-knowledge encryption. Only the user will be able to decrypt their files, as Pruden noted, as neither administrators nor developers will have access to them.
- Zero-knowledge proofs allow for this because they may “verifiably show” that a statement is true without divulging the underlying information. Zero-knowledge cryptography enables data to be “private and useable at the same time,” as Pruden put it, in contrast to more common forms of encryption like the end-to-end models used in private messaging apps, where only users and senders may read information.
- He gave a “trivial example” to illustrate the point: knowing the answer to a sudoku puzzle without explaining how you know it. You can also respond “yes” or “no” to the question “Are you over the age of 18?” without disclosing your actual age or date of birth.
- According to Pruden, this allows for a “more granular set of use cases” than conventional encryption, as it provides a solution to the problem of “how can I verify a fact about something without disclosing the item?”
- He explained that with zero-knowledge proof, one can prove their credibility without disclosing any personal information.
- The solution protects both persons and the numerous systems that companies must keep secure, which is why it was deemed “very well suited” by Pruden for use in Web3 identity verification.
What is Web3 precisely, though?
Gavin Wood, the co-founder of Ethereum, came up with the concept for the Web3 framework, which is currently in development but has a solid foundation. According to the open-source blockchain, which “embraces decentralization and is being constructed, maintained, and owned by its users,” it is “read-write-own.”
Web3 is defined in a similar fashion by Gartner, which calls it “a new stack of technologies built on blockchain protocols that support the development of decentralized web apps and empower users to control their own identity, content, and data.”
According to Avivah Litan, a senior research vice president at Gartner, these include privacy-protecting protocols, decentralized governance, and decentralized application platforms.
It is her belief that “these developments will eventually support a decentralized network that will connect with the existing Web 2.0 we use on a daily basis.”
Web3 allows users to retain control over their data and algorithms by implementing measures such as decentralized identity (DCI) frameworks, tokenization, and self-hosted wallets, as she outlined. DCI employs zero-knowledge proof and “least privilege” in its computer infrastructure.
Hence, individuals “may assert components of their identity” without disclosing private information. According to Litan, “users will have control and make intentional decisions about which identification features are being shared with service providers, which will improve the focus on and understanding of privacy.”
Several game-changing advantages:
As Litan points out, a “portable and reusable” DCI that facilitates privacy and security “will be a required building piece of the move away from Web2 towards Web3 and to enable interoperability across emerging metaverse contexts” in the long run.
By 2027, Gartner believes that social media platforms will have moved from a “customer as product” model of centralized identification to a “platform as customer” model.
According to Gartner’s study on the top predictions for IT companies and users in 2023 and beyond, “the present paradigm of users having to confirm their identity repeatedly across online services is not efficient, scalable, or secure.”
According to Gartner, Web3 supports new decentralized identity standards with “many disruptive benefits,” such as providing users greater control over what data they give, eliminating the need for repetitive identity proofing across services, and supporting common authentication services.
End-to-end encryption in Web3 with zero-knowledge:
- Pruden mentioned widespread database hacking that exposes users’ credentials, financials, and other personal data (PII).
- These data “honeypots,” he argued, are what decentralized identification is trying to do away with. By adopting this paradigm, users only need to present zero-knowledge proof to authenticate their credentials when logging in, and they may make purchases without entering their credit card number or any other sensitive financial information.
- Pruden emphasized that the user should always be in control of their credentials and should only provide them when necessary for a specific service.
- Organizations benefit from this paradigm as well, he said, because they are relieved of the responsibility for protecting “user secrets.”
- Additionally, any application can prioritize privacy by integrating zero-knowledge encryption into the decentralized internet’s underlying infrastructure.
- Just as TLS encryption allows for e-commerce to take place online, “this is a key unlock,” as Pruden put it.
- He added that this was a benefit for Web3, “but also makes it possible for Web2 and Web3 to interoperate easily.”