Polygon, a layer-2 scaling protocol for Ethereum, has launched a zero-knowledge decentralized id solutionto the general public practically a 12 months after asserting its improvement.
The Polygon ID service makes use of zero-knowledge proofs (ZK proofs) that use cryptographic strategies to permit customers to confirm their id on-line with out having their delicate info handed or doubtlessly saved with a 3rd occasion.
Polygon Labs publicly launched Polygon ID on March 1, nearly 12 months after the challenge was formally launched in a closed-source surroundings.
The Polygon group says Polygon ID was constructed to “solve the issue of digital trust.”
ZERO KNOWLEDGE IDENTITY FOR WEB3
The Polygon ID group is worked up to announce 4 instruments have been launched within the #PolygonID Identity Infrastructure to construct a extra equitable web that locations id on the heart of it.
The future is self-sovereign⛓https://t.co/h66KyDurJE pic.twitter.com/jTBbzBNVJk
— Polygon (@0xPolygon) March 1, 2023
“What sets Polygon ID apart from most other decentralized ID frameworks is its implementation of zero-knowledge technology, allowing users to verify their identities or other credentials without necessarily revealing sensitive information,” Polygon mentioned.
The public launch introduces 4 new instruments to the Polygon ID toolset — Verifier SDK, Issuer Node, Wallet SDK and Wallet App — that may permit Polygon builders to combine decentralized id into their functions.
Users will be capable to produce zero-knowledge proofs utilizing off-chain credentials — corresponding to their passport, nationwide ID or a bachelor’s diploma — to work together with sensible contracts and confirm info on-chain.
“This means that off-chain data can now be used for trustless on-chain verifications in the widely-supported Verified Credential format.”
Polygon claims it’s additionally the primary ZK-based digital ID device that enables customers to carry credentials domestically on handheld gadgets corresponding to smartphones, and that customers will not want passwords:
“Passwordless logins exchange encrypted verifiable credentials by simply scanning a QR code or connecting to a desktop wallet. Organizations can benefit from improved security, a better user experience, and productivity of their system administrators whose time is not taken up by password resets.”
The co-founder of Polygon ID, David Schwartz, mentioned in a March 1 tweet that the product was constructed “on the latest decentralized identity standards” which can assist defend builders and customers in opposition to unauthorized entry from third events.
Polygon ID’s ZK-based know-how permits builders to construct options to permit customers to retailer their private info privately and securely whereas giving them full management over who has entry to their information.
— David Schwartz (@davidsrz) March 1, 2023
“Providing identity in a way that the average consumer can use is the holy grail of digital ID adoption,” he explained in a separate press statement.
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Multiple projects have already committed to integrating Polygon ID upon launch, such as Web3 infrastructure provider Kaleido, ID verification solution Fractal and Web3 community management system Collab.Land. Together they have a user base of over 4 million, according to Polygon.
Other Web3 projects, such as metaverse platform The Sandbox and blockchain builder community Guild.xyz, are in the process of integrating Polygon ID too.
Following the news, the price of Polygon’s native token, MATIC (MATIC), increased 2.5% from $1.22 to $1.25 in a matter of hours before falling back to $1.23.
Other blockchain-based ID products out in the space today include Quadrata and IDNTTY.
Content Source: cointelegraph.com
