Since the dawn of civilization, reliable information has been essential for informed decision-making by individuals, organizations, and systems. This foundation begins with enhancing our ability to verify the origin of information, the methods used to produce it, the integrity of the systems involved, and the track record of all such elements. With the advent of the internet, achieving all the above requires building the verifiable web, which is a more advanced digital era grounded in cryptographic truth.
What is the Verifiable Web?
The verifiable web isn’t meant to replace the current web but to enhance its functionality. It adds a new layer that allows applications to operate within a decentralized, cryptographically secure, and transparent environment. Existing internet functionality such as computations, data storage, governance, and cross-system networking are all supported. When part or all of an application’s backend is hosted on the verifiable web, app users gain access to multiple elements of verifiability for their data. These include resistance to manipulation (security), constant availability (reliability), open access (censorship resistance), verified authenticity, data privacy, and traceable origins (provenance).
The verifiable web is built on game-theoretical principles by merging multiple technologies to form environments where rational actors are motivated to act fairly even when malicious actors are present. Additionally, users can transparently examine these environments themselves to ensure they align with standards for trust and fairness. In contrast, the traditional web depends on trusting centralized entities and their unverifiable promises about how applications and backend systems operate.
At its core, the verifiable web represents the true purpose of crypto. Decentralization can begin with the monetary system, then expand to other industries to deliver more transparency and digital proofs. As public trust in centralized institutions declines, the need for technologies that offer verifiability will expand around the world.
How Does Blockchain Achieve Verifiability
Blockchains, made up of interconnected blocks of code, rely on a consensus mechanism among participants in the network where transactions occur. These blocks form an ongoing chain that act as a decentralized ledger. When a new block is added, the transaction is given a digital fingerprint, or cryptographic hash, that includes the hash of the previous block and a unique output. If any data is altered without verification, the transaction becomes invalid, as all nodes must generate the same hash result for it to be accepted. A transaction is only confirmed if this integrity check is passed.
Threshold Signature Verification
Beyond blockchain networks, there are alternative cryptography systems that enhance the verifiable web. For example, the BLS Threshold Signature Scheme (BLS-TSS). It is a form of Multi-Party Computation, which refers to a secure method of computation carried out collaboratively by multiple participants. In this process, each party inputs their own private data and receives the final result of the computation without ever revealing their individual input to the others. This ensures that no participant can access any private information from the other parties involved.
Use Cases of Verifiability for Web3
Contracts and Legal Systems - Trust in contract enforcement is essential for business transactions and consumer protections like warranties. The verifiable web offers a solution by embedding smart contracts and oracle networks into digital agreements, replacing trust-based clauses with enforceable, tamper-proof mechanisms.
Consumer Goods - As consumers become more informed, there's growing demand for transparency around the origin and quality of food and products. However, verifying that a product is genuine, undiluted, and produced by a reputable manufacturer remains a challenge. The verifiable web can provide greater confidence by enabling end-to-end tracking and ratings of food and goods from source to shelf.
Images and Videos - As AI-generated content becomes more advanced, distinguishing between real and fake images or videos is becoming more difficult. The verifiable web can help by authenticating content origins, such as through cameras that cryptographically sign photos or videos using a private key stored in a secure hardware module.
Social Voting - Understanding public opinion is vital for sound decision-making in society and governance. Democratic voting is the backbone of many organizations and nations. The verifiable web can strengthen trust in digital participation by introducing authentication tools, open-source algorithms, and privacy-preserving systems that confirm a participant is a unique individual without revealing their identity.
Financial Markets and Services - Historically, financial markets have experienced cycles of boom and bust due to mispriced assets and systemic risk from interdependencies. People increasingly seek stronger assurances that markets and financial assets are as stable and reliable as reported, and that financial services will be delivered as promised, which is where digital verifiability comes in.