Introduction
Hello folks! Today, we delve into a topic connected to soft Sovereign identities but from a broader perspective. While most are familiar with blockchains and their basic concept of connected blocks aggregating transactions, there are inherent challenges. Blockchains, despite being distributed, are slow due to the need to maintain global order and consensus. This brings us to the need for simpler and more localized data structures.
The Evolution of Ledgers
1. Linked Lists
The foundational data structure is the linked list. It consists of an addressable space, often memory, containing data with a link to the next block. A concept most have encountered during university studies.
2. Nano-ledgers
Building on the linked list, we introduce the nano-ledger. The primary goal here is data integrity. By including the digest of the previous block in the next block, we ensure a connection between blocks, preventing unauthorized changes. The nano-ledger is simple yet effective. It requires a seal service and a digest of the block. This structure can even reference where the data is located, offering flexibility by separating data from other elements.
3. Micro-ledgers
Micro-ledgers take the concept of data integrity from nano-ledgers and add an essential layer: data authenticity. It's crucial to confirm the authenticity of the data, which means verifying the owner or issuer of the data. This is achieved using asymmetric cryptography, specifically signatures. A micro-ledger contains the signature of the block along with an identifier (like a DID) that leads to the public key of the owner or issuer. These two elements form the core of the micro-ledger. Micro-ledgers can be local and form event logs. If there's a need for event ordering, a cryptographically verifiable timestamp is essential.
Conclusion
The world of ledgers extends beyond just blockchains. By understanding and leveraging nano-ledgers and micro-ledgers, we can achieve data integrity and authenticity in a more localized and efficient manner. As we continue to explore this realm, the potential for innovation is vast.
(Note: The article is based on the partial transcript provided and might not cover the entire content of the video.)
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