Polygon ID platform seeks to enhance self-agency and privacy in the Web3 space

Layer-two Ethereum scaling solution, Polygon has announced the constitution of Polygon ID, an individuality level designed to complement the decentralized concern and decentralized exertion (dApp) economies by providing users greater privateness and sovereignty wrong Web3.

Professed to beryllium the archetypal individuality level of its benignant to follow cryptographic-based zero-knowledge technology, the level volition utilize Iden3’s Circom ZK toolkit, including zkSNARK cryptography for procreation and the zkProof Request Language protocol to verify authenticity of the projected claim.

Users of the level tin supply impervious of their individuality erstwhile engaging successful activities specified arsenic archetypal coin offerings, token airdrops, decentralized exchange, oregon DEX, trading, oregon those successful which strict know-your-customer, KYC, requirements apply.

With the capableness to present a Sybil-resistant one-vote-per-person mechanism, the use-cases tin besides grow beyond the DeFi sector, to the metaverse, gamify and non-fungible token (NFT) industries whereby plus authenticity is verified via on-chain, privatized claims.

The squad is expecting to deploy the nationalist mentation of the ID wallet app during Q2 of 2022, alongside features specified arsenic “Claims Issuance, Private Authentication, zkProof Generation and Verification”, with the afloat level release, and accompanying SDK functionalities scheduled for the pursuing quarter.

Source: Polygon

Related: Here's however Polygon is challenging the limitations of Ethereum, arsenic told by co-founder Sandeep Nailwal

In November 2021, Polygon made a concerted effort to grow its zero-knowledge-proof improvement by pledging implicit $1 cardinal towards the technology, a sum which including 250 cardinal MATIC tokens for startup steadfast Mir.

On a video telephone with Cointelegraph, Rafal Nazarkiewicz, the Product Manager astatine Polygon Hermez and Polygon ID shared exclusive insights into the technicalities and purported benefits of the exertion for blockchain advocates and consumers alike.

Speaking connected the value of individuality ownership wrong the Web3 space, Nazarkiewicz argued that "identity is cardinal for galore use-cases wrong integer inclusion, and for the close to beryllium recognized", and that "in Web3, its expected to beryllium backstage by default and decentralized", earlier affirming that nary of the claims content, for illustration their idiosyncratic information, volition beryllium transacted oregon stored on-chain, lone the impervious of validity.

The use-cases of recognition systems are not wholly constricted to on-chain activities, but tin besides utilized successful the enactment of accepted declaration agreements Nazarkiewicz reveals specified arsenic "legal ownership for the suggest of transportation of tokenized assets specified arsenic securities, intelligence property, and onshore titles."

— Polygon | $MATIC (@0xPolygon) March 29, 2022