The Role of Decentralized Identity and Reputation Systems in Web 3.0: A Comparative Analysis of Blockchain - Based Solutions

Naman Kansal

Abstract: Blockchain technology is a new technology that has created opportunities to improve data security and privacy. The Web 3.0 is a digital economy based on blockchain that is gaining attention due to its unique decentralized features as web technology continues to evolve. The digital economy is growing rapidly and is an important contributor to high - quality economic growth, but it faces security issues such as infringement and privacy breaches due to the centralized nature of the Internet. In this research paper, secondary research methodology was used in order to study how anomalies of web 2.0 enabled web 3.0 to grow, and how Web 3.0 technologies can address the challenges faced by the digital economy as it expands. It will also discuss how blockchain - derived web 3.0 can be utilized to build a decentralized identity system for blockchain accounts that seeks to address the issue of a lack of confidence in blockchain account systems. The study will also go through the functions of web 3.0, decentralized identification in reputation systems, and some cutting - edge and upcoming ideas for web 3.0 with quantum capabilities.

Keywords: Web3.0, Data Privacy, Blockchain, Decentralized, Technology