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Polygon Introduces ZK-Powered Decentralized ID Product

Key Takeaways
  • Polygon, a popular blockchain network, has launched a new product for decentralized identification (DID)
  • The product uses Zero-Knowledge proofs (ZK) to ensure privacy and security in the authentication process
  • This move is aimed at providing a more secure and user-friendly way of managing online identities, without relying on centralized third-party providers
Polygon Introduces Z

Polygon's Decentralized ID Product Uses Zero-Knowledge Proofs for Enhanced Privacy and Security

Polygon, a layer-2 scaling protocol for Ethereum, has launched its highly anticipated zero-knowledge decentralized identity solution, Polygon ID, to the public. Using zero-knowledge proofs, Polygon ID allows users to verify their identities online without sharing sensitive information with a third party. 

This release comes after a year of development and provides a reliable way to tackle the issue of digital trust. Polygon ID offers a unique advantage with its zero-knowledge technology and introduces four new tools for developers to integrate decentralized identity into their applications. 

This revolutionary solution is set to transform the way we interact with digital identities and ensures secure and reliable verification of identities and credentials online.

Polygon Tweet

With the implementation of zero-knowledge technology, users can verify their credentials without revealing sensitive information. The release includes four new tools to the Polygon ID toolset, enabling developers to integrate decentralized identity into their applications seamlessly.

Diagram explaining relationship between user passwords & Polygon

Users will be able to leverage zero-knowledge proofs to securely interact with smart contracts and verify information on-chain using off-chain credentials such as passports, national IDs, and bachelor's degrees. 

"Access the blockchain with confidence and security! Our ground-breaking innovation enables trustless on-chain verifications in the widely used Verified Credential format.”

Polygon asserts that it is the first Zero-Knowledge (ZK) based digital identity tool that enables users to store credentials locally on handheld devices such as smartphones, eliminating the need for passwords. 

"Experience the future of secure and hassle-free identity verification with our revolutionary technology! Exchange encrypted verifiable credentials with ease by simply scanning a QR code or connecting to a desktop wallet. Boost your organization's security, user experience, and productivity by eliminating the need for password resets. Join the digital transformation today!"

Polygon ID co-founder David Schwartz declared in a March 1 tweet that the product was constructed using the most up-to-date decentralized identity standards, providing developers and users with a safeguard against unauthorized access from third parties.

David Schwartz tweet

The launch of Polygon ID has already attracted multiple projects, including Kaleido, Fractal, and Collab.Land, with a combined user base of over 4 million, to integrate the technology upon launch. 

The Sandbox and are also in the process of integrating Polygon ID into their Web3 platforms. The launch of Polygon ID has also resulted in a 2.5% surge in the price of the native token MATIC before settling back to $1.23. 

Other blockchain-based ID products in the market include Quadrata and IDNTTY, highlighting the potential for digital identity solutions. Providing an easy-to-use identity solution for consumers is essential for digital ID adoption.

Also read - 24 Hrs Crypto Update, Mar 1: Global Crypto Market Remains Dull

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