The way identity is verified in blockchain technology is by acquiring cryptographic keys on the blockchain. Here identity verification is usually done using cryptographic keys. Users are generally given two types of keys. One is the public key and the other is the private key. A public key means one that is visible to all that can be seen by all. What is private is the complete opposite. A user's private key is always a secret that no one but the user can see. When a user makes a transaction, he completes his transaction using this private key, and anyone can verify the authenticity of his transaction with his public key. Different blockchain technologies follow different approaches to verify identity on the blockchain, and there are many blockchain technologies that integrate with external identity providers or follow multi-signature schemes to verify identity.

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Here's a breakdown of how identity verification works in a basic blockchain scenario:-

1. Key pair generation.
2. Sign the transaction.
3. Verification by others.
4. Immutable record.
5. Additional verification process.

If we discuss these issues in a little more detail, it can be said that users own a pair of keys, where there is a public key that everyone can see and a private key that is hidden from everyone. As soon as a user initiates his transaction, a digital signature is required to complete the transaction. And this private key is needed to generate this digital signature. Again the user's public key can be used to authenticate with others. If the verification by others is successful, it means that the transaction was actually signed by the private key associated with the public key used to initiate the transaction.

In blockchain technology, once a verified transaction is completed, it becomes part of a ledger that is immutable. And so a history is recorded transparently on the blockchain so that anyone can independently verify and track it from anywhere. Some blockchain systems also implement additional identity verification mechanisms such as multi-signature transactions where multiple private keys are required to authorize a transaction. Sometimes certain use cases may use smart contracts to enforce specific identity verification rules, or blockchain platforms may integrate with external identity providers.

It is good to remember that blockchain keeps our true identity private while providing us with a public key and private key. However, privacy considerations and the level of identity disclosure may vary across different blockchain networks and applications. And blockchain is a technology that can change the entire concept in the future.

So friends, that's it for today. Let me know in your comments what you think of today's topic. I am ending here wishing everyone good health. All be well and stay healthy.

Thank You