Polygon (MATIC) has launched its decentralized, zero-knowledge authentication solution, called “Polygon ID”, to the general public, almost a year after announcing the launch of its development.
The service uses zero-knowledge proofs (ZK proofs), which, using cryptographic techniques, allow users to verify their identity online without their sensitive information being transmitted or potentially stored to third parties.
Polygon ID was publicly released on 1 March, almost 12 months after the official release of the project in a closed source environment.
To solve the problem of digital trust
The Polygon team said that “Polygon ID” was created to “solve the digital trust issue”:
“What makes Polygon ID stand out from most other decentralized identity frameworks is its implementation of zero-knowledge technology, which allows users to verify their identity or other credentials without necessarily revealing sensitive information,” Polygon said.
The public version of Polygon ID introduces four new tools – Verifier SDK, Issuer Node, Wallet SDK and Wallet App. These tools allow developers building on the Polygon network to integrate such identity solutions into their applications.
Users will be able to generate zero-knowledge proofs using off-chain credentials – such as a passport, national ID or degree – to interact with smart contracts and verify information within the blockchain.
Polygon also claims to be the first digital identity tool based on ZK technology that allows users to keep their credentials on mobile devices such as smartphones and furthermore that users will no longer need passwords:
“Password-free connections exchange encrypted verifiable credentials by simply scanning a QR code or plugging into a desktop computer wallet. Organizations can benefit from improved security, better user experience and productivity for their system administrators whose time is not consumed by password resets.”
Polygon ID co-founder David Schwartz said the product is built on the latest decentralized identity standards, which will help protect developers and users from unauthorized third-party access.
Interesting enough
Several projects have already committed to incorporate Polygon ID, including Web3 infrastructure provider, Kaleido, verification solution, ID Fractal and Web3 community management system, Collab.Land. Together they have a user base of more than 4 million, according to Polygon.
Other Web3 projects, such as the metaverse platform, The Sandbox and the community
Other Web3 projects, such as the metaverse platform, Sandbox and the blockchain creation community, Guild.xyz, are in the process of integrating Polygon ID.
Read Also
- NFT Ordinals fuel explosive growth in Bitcoin’s Taproot usage, reaching a new all-time high
- Blur Takes Over OpenSea as NFT Trading Leader, But at What Cost? Suspicious Transactions Fuel Controversy
- Binance Denies Forbes’ Claims of Misuse of Funds, Stoking Cryptocurrency Community Doubts
- Polygon (MATIC) Sets Stage for a Promising 2023: NFTs, Games, and Developer-Friendly Ecosystem Drive Impressive Growth
- Polygon and Mastercard collaboration for artists on Web3
Previous Articles:
- NFT Ordinals fuel explosive growth in Bitcoin’s Taproot usage, reaching a new all-time high
- Blur Takes Over OpenSea as NFT Trading Leader, But at What Cost? Suspicious Transactions Fuel Controversy
- Binance Denies Forbes’ Claims of Misuse of Funds, Stoking Cryptocurrency Community Doubts
- Visa and Mastercard “Freeze” Plans for Cryptocurrency Partnerships Amid Regulatory Uncertainty
- Banks reduce exposure to Bitcoin and cryptocurrencies globally to 40%, says BCBS report