Polygon Labs released a Polygon ID solution that, through zero-knowledge proof (ZKP), allows users to confirm their identity in the Web3 space without sharing sensitive information with a third party.
The Polygon network released a decentralized identity solution, Polygon ID, that uses zero-knowledge proof (ZKP) technology.
The release of Polygon ID was announced back in March 2022, but it became officially available to users only after a year of testing. The tool is open source, allowing developers to create technical solutions for user identification in the Web 3.0 space.
Polygon ID is designed to simplify managing user data for companies, while individuals can gain full control over their personal data. The solution can be used:
- To confirm membership in decentralized autonomous organizations (DAO) without having to disclose personal data.
- As a KYC provider. With Polygon ID, users can get verified in DeFi without revealing their personal information every time.
- For verification in dApps. Polygon ID will enable you to log in to various apps without passwords and the need to prove your identity by scanning QR codes.
- To verify your solvency. Polygon ID can be used to create an on-chain credit score with a persistent ID.
The Polygon team claims that Polygon ID’s main goal is to “solve the issue of digital trust,” as the technology will allow developers to achieve what was previously impossible — identifying the user while preserving their privacy.
Four basic tools are publicly available for integrating Polygon ID into decentralized apps:
- Verifier SDK for verifiers;
- Issuer Node for issuers;
- Wallet SDK for wallet builders;
- Wallet App for devs and end users.
According to David Schwartz, Co-Founder of Polygon ID, the product is built “on the latest decentralized identity standards” that are designed to provide the necessary level of privacy for Web3 users. In his opinion, zero-knowledge proof (ZKP) technology provides the necessary level of security for users’ personal data.
Recall that last year, Polygon’s enterprise division introduced a scalability solution based on ZKP technology with increased privacy — Nightfall, which is designed to reduce commission costs on the Ethereum network. In addition, Vitalik Buterin insisted on using zk-SNARK to improve the Proof-of-Reserve (PoR) audit algorithm.
