Decentralized Identity Management: Prerequisiteof Web3 Identity Model

Abstract

Web3 is the evolution of internet requisites decentralized identity management known as a new paradigm in the identity management system. Web3 conceptualizes decentralization and based upon that needs an identity model that fulfills the requirement of any business/technology model in the new trusted third-party free era. This article presents Web3, Web3 architecture, and technologies expansion for secure and scalable services. Further, the decentralized identity management model is presented with its components (DID), reusable verifiable credentials (VC), issuer, verifier, and user centricity in perspective with the Web3 identity model.