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 practically a 12 months after asserting its growth.

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 data handed or probably saved with a 3rd celebration.

Polygon Labs publicly launched Polygon ID on March 1, nearly 12 months after the mission was formally launched in a closed-source setting.

The Polygon crew says Polygon ID was constructed to “remedy the difficulty of digital belief.”

“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 data,” Polygon mentioned.

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 functions.

A easy chart explaining how Polygon ID interacts with person 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 good contracts and confirm data 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 enables customers to carry credentials regionally on handheld units 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 person expertise, and productiveness of their system directors whose time shouldn’t be 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 most recent decentralized id requirements” which can assist shield builders and customers towards unauthorized entry from third events.

“Offering id in a means that the common shopper 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 assembly

A number of initiatives 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 person base of over 4 million, in keeping with Polygon.

Different Web3 initiatives, equivalent to metaverse platform The Sandbox and blockchain builder neighborhood Guild.xyz, are within the technique 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 embody Quadrata and IDNTTY.