Polygon Labs has introduced a new product based on its zero-knowledge tool, Polygon ID. The new Web3 infrastructure is an identity system for facilitating and securing connectivity between decentralized applications (dApps) and Web3.
Polygon Launches Polygon ID
As per the developers, the new Web3 infrastructure syncs with the principle of self-sovereign identity to help establishments issue verifiable credentials to their users. Similarly, recipients and organizations can verify identity claims via a toolkit integrated into the identity system.
The new product has been in development for over a year after its initial announcement by Polygon Labs. Moreover, the release is now open to the public, with Polygon revealing that it plans to launch an open-source software development kit (SDK) for the Polygon ID.
It is worth noting that zero-knowledge identity protocol has been around for years, and Polygon joins others like Quadrata and IDNTTY to tailor their operations with the Web3 infrastructure. Zero-knowledge infrastructure is a solutions tool that helps resolve the complex relationship between privacy and anonymity in the crypto and blockchain industry.
Polygon ID is a non-interactive zero-knowledge system that enables users to send and receive data without compromising their privacy and security during blockchain transactions. Thus, it is a transactional validation layer that does not need the user’s personal information within transactions without sacrificing on-chain and off-chain protocols via smart contracts.
According to David Schwartz, Polygon’s co-founder, providing user identity in a way that consumers can easily use is the aim of digital ID development. He added that this is the only identity solution that has provided the scalability needed to accelerate the mainstream adoption of the zero-knowledge technology.
Providing User ID Solution
For some time, the need to reveal specific user information has been a heated topic of debate in the crypto space. With the proliferation of crypto exchanges requiring users to submit identity proofs through a know-your-customer (KYC) framework, the discussion has continued to linger.
However, the KYC frameworks are often implemented due to compliance regulation requirements introduced by central banks to ensure consumer protection. According to an official statement by Polygon Labs, what sets the Polygon ID apart is its implementation of zero-knowledge technology that allows users to verify information without revealing sensitive data.
Polygon explained that developers could utilize their tool to unlock additional features like enhanced signup user interface, user verification, assisting in ensuring regulatory compliance, and many more.
The platform noted that the Polygon ID infrastructure comprises four main tools, Issuer Node, a Verifier SDK, Wallet SDK, and Wallet App. Some Web3 protocols like Kaleido and Collab.Land and Fractal have promised to support the new infrastructure to expand its use.
Similarly, metaverse projects like the Sandbox and Guild.xyz have pledged to integrate and onboard the Polygon ID infrastructure to their platforms. Polygon Labs revealed that it intends to build more innovative tools to meet the changing Web3 ecosystem.
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