Polygon ID platform seeks to enhance self-agency and privacy in the Web3 space
Layer-two Ethereum scaling solution, Polygon has announced the establishment of Polygon ID, an identity platform designed to complement the decentralized finance and decentralized application (dApp) economies by providing users greater privacy and sovereignty within Web3.
Professed to be the first identity platform of its kind to adopt cryptographic-based zero-knowledge technology, the platform will utilize Iden3’s Circom ZK toolkit, including zkSNARK cryptography for generation and the zkProof Request Language protocol to verify authenticity of the proposed claim.
Users of the platform can provide proof of their identity when engaging in activities such as initial coin offerings, token airdrops, decentralized exchange, or DEX, trading, or those in which strict know-your-customer, KYC, requirements apply.
With the capacity to introduce a Sybil-resistant one-vote-per-person mechanism, the use-cases can also expand beyond the DeFi sector, to the metaverse, gamify and non-fungible token (NFT) industries whereby asset authenticity is verified via on-chain, privatized claims.
The team is expecting to deploy the public version of the ID wallet app during Q2 of 2022, alongside features such as “Claims Issuance, Private Authentication, zkProof Generation and Verification”, with the full platform release, and accompanying SDK functionalities scheduled for the following quarter.
Related: Here's how Polygon is challenging the limitations of Ethereum, as told by co-founder Sandeep Nailwal
In November 2021, Polygon made a concerted effort to expand its zero-knowledge-proof development by pledging over $1 billion towards the technology, a sum which including 250 million MATIC tokens for startup firm Mir.
On a video call with Cointelegraph,
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