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- Polygon Labs publicly released its Polygon ID, almost 12 months after the project was officially launched in a closed-source environment.
- Polygon ID is a privacy-focused solution that leverages the technology behind the Iden3 protocol and Circom ZK toolkit.
Polygon, the popular Ethereum Layer 2 scaling solution, has launched a new decentralized identity (ID) service to support the Web3 ecosystem. The ID solution is powered by zero-knowledge (ZK) proofs technology and is aimed at providing a secure and private way for users to authenticate their identity on the Web3.
Decentralized identity has become increasingly important in the Web3 space, where users need to prove their identity and authenticate transactions without relying on centralized authorities. This is where ZK proofs come in handy. ZK proofs allow users to prove their identity or the validity of a transaction without revealing any sensitive information.
Polygon’s new ID solution leverages this technology to provide a secure and private way for users to authenticate their identities. The solution is built on Polygon’s Layer 2 infrastructure, which means it benefits from the speed and low transaction fees that Polygon is known for.
The ID solution is designed to be flexible and scalable, allowing users to customize the level of privacy they want to maintain. Users can choose to authenticate their identity using public or private data, and they can also choose the level of verification they require.
The new ID solution has been well received by the Web3 community. Many developers and users see it as a key piece of infrastructure that will help drive the adoption of decentralized applications and services.
Businesses can say goodbye to user data management headaches, and individuals can have discretion in using their personal data when builders build with Polygon ID.
👀 Polygon ID is already being used by many builders who are launching live applications.
— Polygon (@0xPolygon) March 1, 2023
In addition to its ID solution, Polygon is also working on other initiatives to support the Web3 ecosystem. These include a decentralized exchange (DEX) aggregator and a bridge to allow seamless transfers of assets between different blockchain networks.
Related: POLYGON’S ZKEVM BETA NETWORK SET TO DEBUT, WILL MATIC SURPASS $1.50 IN FEBRUARY?
Overall, Polygon’s new ZK-proofs-powered ID solution is a significant step towards a more decentralized and secure Web3 ecosystem. As Web3 continues to grow and evolve, decentralized identity solutions like this will play an increasingly important role in ensuring user privacy and security.
