Polygon launches decentralized ID product powered by ZK proofs
Polygon, a layer-2 scaling protocol for Ethereum, has launched a zero-knowledge decentralized id solutionto the general public practically a 12 months after saying its improvement.
The Polygon ID service makes use of zero-knowledge proofs (ZK proofs) that use cryptographic methods to permit customers to confirm their id on-line with out having their delicate info handed or probably saved with a 3rd get together.
Polygon Labs publicly released Polygon ID on March 1, virtually 12 months after the challenge was formally launched in a closed-source atmosphere.
The Polygon crew says Polygon ID was constructed to “clear up the difficulty of digital belief.”
ZERO KNOWLEDGE IDENTITY FOR WEB3
The Polygon ID crew is worked up to announce 4 instruments have been launched within the #PolygonID Id Infrastructure to construct a extra equitable web that locations id on the heart of it.
The long run is self-sovereign⛓https://t.co/h66KyDurJE pic.twitter.com/jTBbzBNVJk
— Polygon (@0xPolygon) March 1, 2023
“What units Polygon ID aside from most different decentralized ID frameworks is its implementation of zero-knowledge know-how, permitting customers to confirm their identities or different credentials with out essentially revealing delicate info,” Polygon stated.
The general public launch introduces 4 new instruments to the Polygon ID toolset — Verifier SDK, Issuer Node, Pockets SDK and Pockets App — that can permit Polygon builders to combine decentralized id into their purposes.
Customers will be capable to produce zero-knowledge proofs utilizing off-chain credentials — similar to their passport, nationwide ID or a bachelor’s diploma — to work together with good contracts and confirm info on-chain.
“Which means that off-chain information can now be used for trustless on-chain verifications within the widely-supported Verified Credential format.”
Polygon claims it’s additionally the primary ZK-based digital ID software that permits customers to carry credentials domestically on handheld units similar to smartphones, and that customers will not want passwords:
“Passwordless logins alternate encrypted verifiable credentials by merely scanning a QR code or connecting to a desktop pockets. Organizations can profit from improved safety, a greater person expertise, and productiveness of their system directors whose time isn’t taken up by password resets.”
The co-founder of Polygon ID, David Schwartz, stated in a March 1 tweet that the product was constructed “on the most recent decentralized id requirements” which is able to assist shield builders and customers towards 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
“Offering id in a manner that the typical client can use is the holy grail of digital ID adoption,” he defined in a separate press assertion.
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A number of initiatives have already dedicated to integrating Polygon ID upon launch, similar to Web3 infrastructure supplier Kaleido, ID verification resolution Fractal and Web3 group administration system Collab.Land. Collectively they’ve a person base of over 4 million, in keeping with Polygon.
Different Web3 initiatives, similar to metaverse platform The Sandbox and blockchain builder group Guild.xyz, are within the strategy of integrating Polygon ID too.
Following the information, the value of Polygon’s native token, MATIC (MATIC), elevated 2.5% from $1.22 to $1.25 in a matter of hours earlier than falling again to $1.23.
Different blockchain-based ID merchandise out within the house at the moment embrace Quadrata and IDNTTY.
