Polygon Labs, a developer of Layer-2 scaling solutions, has launched Polygon ID – a new product based on zero-knowledge proofs. Polygon ID operates as an identity infrastructure, providing a secure connection between decentralized apps and Web3 users.
What is Polygon ID?
Polygon ID has been created to align with the concepts of self-governance of identity, giving organizations the ability to issue verifiable credentials to users, and providing organizations that receive them with a set of tools to validate those claims. After having been in development for over a year since its announcement, this latest version of the product is now available to the public. Additionally, Polygon will also be releasing an open-source software development kit for Polygon ID.
For some time, zero-knowledge identity stacks have been a reliable solution to the tensions between privacy and anonymity in the crypto space, with Polygon now joining Quadrata and IDNTTY in the field. This provides a professional and reliable way to address the often challenging relationship between these two crucial elements.
Polygon ID offers a reliable, non-interactive, and confidential authentication process, guaranteeing users complete security and privacy when performing blockchain transactions. This transaction validation layer allows users to maintain trust for both on-chain and off-chain, without the need for personal information to be included in the transaction record.
No Need for Revealing your Personal Data
There has been much debate in the crypto space about the necessity of revealing user-specific data, in particular concerning centralized exchanges which necessitate the completion of KYC protocols. These frameworks are being implemented to adhere to regulations and policies set by central banks, thus protecting customers’ financial interests.
Polygon’s new product allows developers to access advanced features such as optimized signup UI, regulatory compliance support, user identity verification, and token-gated control over access to certain areas or features. This identity infrastructure consists of four key tools: Verifier SDK, Issuer Node, Wallet SDK, and Wallet App. All of these components, when integrated, can provide a professional-level secure identity solution.