Polygon is one of the most popular blockchains that is not only efficient but also environment friendly. Created by an enthusiastic team of Indian developers, it uses a proof-of-stake consensus mechanism for processing transactions on-chain while deriving its security from Ethereum.
The same team has now launched a new feature called the ‘Zero-Knowledge Proofs’ service, also known as the Polygon ID. This feature was announced a year ago when some of the greatest minds in Web3 believed that this technology would take up to 10 years to realize. Polygon on Wednesday, March 1 in a tweet announced that 4 tools have been released in the Polygon ID.
The service can enable anyone to become an issuer, verifier, or holder of a Web3 identity. To put things in perspective, KYC providers and DAOs act as issuers. While decentralized apps (dApps) classify as verifiers, Polygon users are categorized as holders.
They will provide nodes for issuers, a software developer kit (SDK) for verifiers, a wallet SDK for wallet creators, as well as a wallet app that works on the blockchain that is up for use by the holders.
Users will be able to verify their identities online, which would be safeguarded by cryptographic techniques. This would prevent their personal details from being passed on to or stored with third-party companies.
“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 can unlock a host of new use cases by leveraging Polygon ID. The applications range from Proof of Uniqueness to immediate onboarding that could be used by Decentralised Autonomous Organisations (DAOs) and Decentralised Finance (DeFi),” Polygon Labs wrote in an official blog post.
“For businesses leveraging Polygon ID, this may mean the end of headaches dealing with user data management. For individuals, it means greater control over their own identity and discretion in how they use their personal data to answer questions from institutions and private organizations,” the blog post further added.
