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Polygon launches decentralized ID product powered by ZK proofs

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Polygon, a layer-2 scaling protocol for Ethereum, has launched a zero-knowledge decentralized id solutionto the general public almost a yr after asserting its growth.

The Polygon ID service makes use of zero-knowledge proofs (ZK proofs) that use cryptographic techniques to permit customers to confirm their id on-line with out having their delicate info handed or probably saved with a 3rd occasion.

Polygon Labs publicly released Polygon ID on March 1, virtually 12 months after the challenge was officially launched in a closed-source environment.

The Polygon workforce says Polygon ID was constructed to “resolve the problem of digital belief.”

“What units Polygon ID other than 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 enable Polygon builders to combine decentralized id into their purposes.

A easy chart explaining how Polygon ID interacts with consumer credentials. Supply: Polygon

Customers will be capable to produce zero-knowledge proofs utilizing off-chain credentials — equivalent to their passport, nationwide ID or a bachelor’s diploma — to work together with sensible contracts and confirm info on-chain.

“Because of this 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 instrument that permits customers to carry credentials domestically on handheld gadgets equivalent to smartphones, and that customers will now 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 consumer 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 newest decentralized id requirements” which can assist defend builders and customers in opposition to unauthorized entry from third events.

“Offering id in a manner that the common client can use is the holy grail of digital ID adoption,” he defined in a separate press assertion.

Associated: Decentralized finance to be examined at inaugural CFTC tech advisory meeting

A number of tasks have already dedicated to integrating Polygon ID upon launch, equivalent to Web3 infrastructure supplier Kaleido, ID verification resolution Fractal and Web3 neighborhood administration system Collab.Land. Collectively they’ve a consumer base of over 4 million, in accordance with Polygon.

Different Web3 tasks, equivalent to metaverse platform The Sandbox and blockchain builder neighborhood 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 this time embody Quadrata and IDNTTY.