Then, we discuss Distributed Ledger technologies whose secure transaction facilitating and privacy preserving techniques promise to be a good complement to the current limitations of vanilla reputation systems.Ĭatalyzed by the popularity of blockchain technology, there has recently been a renewed interest in the design, implementation and evaluation of decentralized systems. We proceed to present various reputation systems, all of which present promising techniques for encouraging trustworthy behaviour. Next, we present the challenges that would have to be overcome in order to enable long term cooperation. In order to do so, we first motivate the decades-old problem of generating trust without an intermediary by discussing Robert Axelrod's research on the evolution of cooperation. This survey explores this elusive goal of Web3 to create a "Universal Trust Machine", which in a true decentralised paradigm would be owned by both nobody and everybody. They attempt to do so by creating an ecosystem of trust constructed using decentralised technology. While so far ecosystems of trust on the Internet could only be feasibly created by large institutions, Web3 proponents have a vision of the Internet where trust is generated without centralised actors. However, as recent events have shown, allowing for-profit corporations to act as gatekeepers to the online world comes with a litany of problems. Thus, they control who can interact and conduct transactions through their monopoly of online trust. Specifically in the case of the Internet, Big Tech companies maintain the largest Internet platforms where users can interact, transact and share information. To date, in modern societies, large scale trust is almost exclusively provided by large centralized institutions. Trust functions to reduce the effort spent in constantly monitoring others' actions in order to verify their assertions, thus facilitating cooperation by allowing groups to function with reduced complexity. Since the dawn of human civilization, trust has been the core challenge of social organization. In his whitepaper proposing Bitcoin, Satoshi Nakamoto proposed a novel decentralised peer-to-peer network protocol which facilitates an electronic payment system. Over the past decade, decentralised networks have received a reinvigorated interest due to the emergence in popularity of cryptocurrencies such as Bitcoin and Ethereum. In this context, a popular example of a centralised network would be Twitter which owns all the content that users publish on it, while an example of a decentralised network is Tribler, a peer to peer file sharing system which improves upon the BitTorrent protocol which enables users to share content with keyword search and boasts a reputation-management system to encourage collaboration. This control is manifested in various ways, such as participants controlling parts of the infrastructure like servers and routers, collaborators owning data in their own private data silos which is queried by the network during discovery, participants possessing the autonomy to decide the operational details of the network, what content needs to be publicised and what needs to be deleted etc.
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