Polygon Revamps ID Verification with Web3, Safeguards Details

By Srikanth
3 Min Read
Polygon Revamps ID Verification with Web3, Safeguards Details 1

With a trained team of Indian developers, the platform Polygon was created. Polygon has emerged among popular blockchains which are not efficient. Apart from being efficient, Polygon is a huge example of an environment-friendly platform. The team behind the generation of Polygon has now made the introduction of a new feature which is termed a zero-knowledge proofs (ZK proofs) service. The feature would ultimately be helpful for the facilitation of id-verification, a Web3 twist. The name of this service is Polygon ID. Previously, the platform was working on this service which was about 12 months ago. If we talk about the launch of the platform then that took place on March 1.

Advertisement

By the utilization of Polygon ID, the users can make the identification of an issuer, verifier, or holder of a Web3 identity. The decentralized apps (dApps) classify as verifiers, and the users of the Polygon as holders.

Users of the Polygon ID service are capable enough to make the identification and verification their identities over the online platform. The platform is helpful for safeguarding cryptographic techniques. This would prevent their personal details that are including names, phone numbers, and email IDs.

As per the blog post of Polygon Labs, it has been determined that the developers are one step closer to solving the issue of digital trust with the release of the Polygon ID self-sovereign identity infrastructure stack. Developers have got the capability to unlock a host of new use cases by leveraging Polygon ID. The applications range from Proof of Uniqueness to immediate onboard Decentralized Autonomous Organizations (DAOs) and Decentralized Finance (DeFi).

The Polygon ID is also helpful for the facilitation of nodes for issuers, a software developer kit (SDK) for verifiers, a wallet SDK for wallet creators, and a wallet app that works on the eco-friendly blockchain that is up for making utilization by the holders.

The major objective of the entire project is to make the inclusion of a quotient of trust among the members of the Web3 community. These members are liable to share their personal information with the crypto firms they are associating with.

The blog also mentioned that for businesses, leveraging Polygon ID may lead to the end of headaches that are dealing with user data management.

Other Web3 processes that are including e-commerce customer onboarding, password-less login, and under-collateralized lending are also listed under the beneficiaries of the Polygon ID.

Polygon ID is compliant without sacrificing privacy with zero-knowledge technology. This simply means that with this technology the developers can leverage zero-knowledge technology within their existing compliance processes without sacrificing user privacy.

It has been seen that there are some companies that have already been using the Polygon ID service.

TAGGED:
Share This Article
Passionate Tech Blogger on Emerging Technologies, which brings revolutionary changes to the People life.., Interested to explore latest Gadgets, Saas Programs