A Technical Commentary on DeSoc: Part I

Benefits of having fully on-chain SBTs:Non-transferability of SBT would suggest that a permissionless blockchain consensus mechanism is not strictly necessary, as the only transactions involved would be the issuance, state updates, and verification of credentials. However, pure on-chain identity will make the integration with existing on-chain prot... See more

Alternative solutions:1. off-chain identity with on-chain anchoring - bahave like L2 solutions. Only use L1 chain for state change and settlement2. modified sharding - only a subset of network manages/verifies a subset of identities

Legacy Support: Need to bridge off-chain data such as credit history to on-chain to represent a full-er identit

Challenges of fully on-chain identity:1. scalability: need block space for saving identity data2. Interoperability: hard for cross-chain verifications as SBT is not transferrable3. privacy: data on-chain is not private by default