polygonal, the Ethereum scaling solution, has announced the creation of Polygon ID, an identity platform designed to complement the economics of decentralized finance and decentralized applications (DApps), providing users with greater privacy and sovereignty within Web 3.0.
The platform, which is considered the first identity platform of its kind to adopt cryptography-based zero-knowledge technology, will use Iden3’s Circom ZK toolset, which includes zkSNARK cryptography for generation and the zkProof Request Language protocol. to verify the authenticity of the proposed claim.
Platform users can provide proof of their identity when participating in activities such as initial coin offerings, or ICOs, token airdrops, and decentralized exchanges, or DEXs, or those where strict know-your-customer requirements apply. , KYC.
The team expects to release the public version of the ID wallet app during the second quarter of 2022, along with features such as “claim issuance, private authentication, zkProof generation and verification”; while the release of the full platform and accompanying SDK functionalities are scheduled for the following quarter.
In November 2021, Polygon made a concerted effort to scale up its zero-knowledge proof development by allocating over $1 billion worth of such technology, a sum that includes 250 million MATIC tokens for the startup, Mir.
Polygon co-founder, Michael Bjelic, shared some thoughts on the technical aspects and supposed benefits of the technology for consumers:
“Polygon ID uses private keys by default, offers on-chain verification and permissionless attestation. There is nothing in the digital identity space that meets all of these requirements. It is also a great showcase of how zero-knowledge proof can help us.” to create a better world”.
Keep personal details, personal.
Introducing Polygon ID – a self-sovereign identity solution powered by zk cryptography.
-Complete user-privacy
Scalable on-chain verification
-Open attestation ecosystem
#OwnYourIdentityTL;DR [1/7] pic.twitter.com/f5aFc5jRD7
—Polygon | $MATIC (@0xPolygon) March 29, 2022
Keep personal data personal.
Introducing Polygon ID: an autonomous identity solution based on zero-knowledge cryptography.
– Full user privacy
-Scalable on-chain verification
– Open attestation ecosystem
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