Web3 and Identity Management | SafeMoon Gaming: Today's Event [Goose Goose Duck] - Tomorrow's Event [Fall Guys] | Food For Thought | Reminders
🎓 Web3 and Identity Management
Web3 identity is a decentralized way for users to manage their digital identities. It is built on the principles of privacy, security, and freedom and can potentially revolutionize how we interact with the internet.
We currently use centralized or federated identity management systems to manage our online identity, but these systems have some common problems, such as:
ease of data breaches
lack of privacy
less control over personal data
Web3 identity technology can address numerous issues:
It is completely owned and managed by the user (whether an individual or organization).
It’s more secure than conventional digital identity management systems since information is stored in a decentralized manner on user devices, which makes it difficult for hackers to access sensitive data.
It offers greater privacy since individuals can verify their identity without disclosing personal information such as their name or address.
It delivers an improved user experience as people can securely access websites and apps with a single set of credentials rather than managing multiple accounts.
There are three pillars of Self-Sovereign Identity (SSI), an approach to digital identity that puts individuals in control of their digital identities: verifiable credentials, decentralized identifiers, and blockchain.
Verifiable Credentials
Verifiable Credentials are digital versions of credentials that can be presented to organizations for verification. They include identity documents, academic achievements, licenses, and more. When these digital credentials follow the Verifiable Credentials Data Model 1.0 standard set by the World Wide Web Consortium (W3C), they are known as Verifiable Credentials. The W3C is an international community that creates standards for the World Wide Web, including Verifiable Credentials, decentralized identifiers, and URLs.
There are three parties involved in the use of Verifiable Credentials:
the Issuer, who issues the credential
the Holder, who owns and stores the credential in their digital wallet
the Verifier, who validates or authenticates the credential, such as a company verifying a candidate's educational credentials
Verifiable Credentials have many benefits:
Instant verification
Users have the ability to choose which parts of their identity to reveal for privacy
No personal data is stored on the blockchain
Verifiable Credentials are portable
Tamper-proof security with cryptography
No need for contacting the issuer to confirm authenticity
They create immediate trust between parties and provide full control and ownership of data to ID holders, enabled by decentralized identifiers and public key cryptography
Decentralized identifiers (DIDs)
Decentralized identifiers (DIDs) are globally unique and can be verified, enabling individuals and organizations to authenticate themselves online without relying on a central authority. DIDs serve as the foundation of Web3 identity and can be stored on a blockchain, allowing DID controllers to prove control over them without requiring permission from any other party.
DID documents contain cryptographic material, verification methods, and services, which enable DID controllers to verify their identities online without disclosing personal information to multiple websites or apps. DIDs provide full control and ownership of digital identities for all online interactions.
Some key features of DIDs include:
cryptographic proofs like digital signatures that secure user data
the ability to create as many DIDs as needed for various purposes
Web3 apps can use DIDs to confirm user identity, giving individuals and organizations greater control over their personal information and who has access to it.
In short, DIDs give complete control of identities to their controllers by being separate from centralized registries, identity providers, and certificate authorities.
Blockchain A blockchain is a digital ledger that records transactions in a secure, transparent, and immutable manner. A decentralized and distributed database enables multiple parties to conduct transactions without relying on a central authority.
In the context of Web3 identity, blockchain technology allows individuals to manage their own identity and have greater control over their personal data. Unlike centralized storage systems, which can be vulnerable to large-scale data breaches, the decentralized nature of blockchain makes it more difficult for people to steal identities as they would need to hack each user's data individually.
TLDR
Web3 identity is a decentralized approach to managing digital identities, offering greater security, privacy, and user control than centralized or federated identity management systems. It is based on three pillars: Verifiable Credentials, Decentralized Identifiers (DIDs), and blockchain technology. Verifiable Credentials are digital versions of credentials that can be presented to organizations for verification, DIDs enable individuals and organizations to authenticate themselves online without relying on a central authority, and blockchain technology provides secure and transparent storage of personal data. Together, these technologies can revolutionize how we interact with the internet and offer users complete control over their digital identities.
Sources:
“Web3 Identity: Beginner’s Guide 2023.” Dock. (27 Feb 2023). https://www.dock.io/post/web3-identity#what-is-web3-in-simple-terms-
Sporny, M. et al. “Decentralized Identifiers (DIDs) v1.0.” W3C. (19 July 2022). https://www.w3.org/TR/did-core/
“Verifiable Credentials: The Ultimate Guide 2023.” Dock. (16 Mar 2023). https://www.dock.io/post/verifiable-credentials
🎮 SafeMoon Gaming
To join in on gaming events, head over to the SafeMoon Gaming Discord at the event's scheduled time.
🗓️Today's Event: Goose Goose Duck
Come and be a part of the #SafeMoonGaming community and enjoy playing Goose Goose Duck, where you'll have to accomplish tasks and detect the imposters! Join us at 5 pm MDT | 7 pm EST | 11 pm GMT.
🗓️Tomorrow's Event: Fall Guys
Experience the craziness of #FallGuys, a party royale game where competitors face ridiculous challenges. Don't miss out on the excitement starting at 4pm MDT | 6pm EST | 10 pm GMT!
March SafeMoon Gaming Event Calendar
💭 Food For Thought
"Life is a succession of lessons which must be lived to be understood."
- Helen Keller
"Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it."
- Steve Jobs
"Watch your thoughts; they become words. Watch your words; they become actions. Watch your actions; they become habits. Watch your habits; they become character. Watch your character; it becomes your destiny."
- Lao-Tze
Reminders
SafeMoon Special - Hello Again
SafeMoon Pulse Monthly Recap
Each month, the SafeMoon Pulse offers a comprehensive SafeMoon overview of the previous month, including any updates or changes you might have missed. The latest issue of the SafeMoon Pulse is now available, covering all the important information from the month of January 2023.
Let's recap the month of January! The video is below, or if you prefer reading, you can access the Pulse article here.
SafeMoon Wallet: How to Sell Crypto Guide
SafeMoon Orbital Shield
SafeMoon released a technical explanation of their patent-pending security product, SafeMoon Orbital Shield.
Need a slightly more simplified explanation?
PoA Article
What is PoA, and what are its advantages?
Learn more by clicking the image below.
Recent Captain's Logs
SafeMoon Exchange
SafeMoon CEO John Karony talks about SafeMoon's Centralized Exchange
(CEX) progress in the Captain's Log video below.
SafeMoon Blockchain
CEO John Karony gave a quick update on the SafeMoon blockchain explaining a bit about the chosen consensus mechanism and release expectations.
Token Monetization Innovation (TMI)
SafeMoon has released a new patent pending feature designed to improve the user experience on its DEX (Decentralized Exchange - SafeMoon SWaP), labeling the feature TMI (Token Monetization Innovation).
TMI aims to improve transparency and transaction predictability by charging the exchange fees upfront in the native token and using smart contracts to ensure transparency in token liquidity pairings. It also aims to expand the availability of web3 and enable additional community partnerships with meaningful projects.
TMI SafeMoon Newsletter Captain's Log.
pSFM Migration
Attention pSafeMoon holders ONLY.
The pSFM Migration Campaign is now LIVE!
Only use the official dApp link on the SafeMoon Website.⚠️
Have the tokens you want to use for migration in your wallet.
Don't transfer after the cutoff date/time
Have a small amount of ETH for gas fees
Tokens acquired in wallets after the cutoff date/time won't be eligible
The pSafeMoon process will remain live for a minimum of six months.
Migrate your pSafeMoon tokens to SafeMoon V2 tokens
The education team has also recently updated their pSafeMoon Guide to include an updates section so you can be aware of any issues relating to pSafeMoon. In addition, you'll find some FAQs to keep you all up to date.
Click the image to check it out
Tokenomics Supervisor
SafeMoon announced that with the recent SafeMoon SWaP updates came a new patent pending feature that solves the existing Defi inconsistent fee paradigm for tokens on multiple Decentralized Exchanges.
Press Release: [Businesswire]
They partnered with "Blockchain and AI expert Dr. Adel Elmessiry to help solve the inconsistency. Labeling the invention "Tokenomic Supervisor," they explain that it operates in 2 steps:
Token Registration
Token SWaP
To learn more, view the full article here.
Security Questions (Best Practice)
🎓You might have seen that SafeMoon Orbital Shield requires users to answer 2 security questions.
⚠️We highly encourage reading our Best Practice article to learn about a safer method for answering these security questions!
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Slippage and Gas Articles
You may have heard of slippage and gas related to the transactions you make when trading your digital assets on the blockchain, but do you know what they are, where they come into play during a transaction, or even why they exist?
SafeMoon Education Manager Cats published two new educational articles for those interested in understanding more.
⬇️Click on the image of the subject you'd like to learn about first.⬇️
↙ Learn about Slippage (Left) and Gas (Right) ↘
Understanding SafeMoon Transactions Article
🎓Want to understand more about what happens when a SafeMoon SWaP transaction takes place? Here's an article that can help you understand the process a bit further.
Check it out by clicking the image below. 👇👇👇
SafeMoon Career Opportunities
"Are you someone who imagines new realities & wants to collaborate with others to bring that new reality into being, for the good of everyone? Or maybe you know someone who might be a good fit?"
SafeMoon Gaming
March Calendar
Click below to join the SafeMoon Official Gaming Discord:
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