Polygon ID: A Web3 Identity Service That Ensures Privacy on the Blockchain
It is reported that Polygon has released a Web3 identity service called Polygon ID, which will allow blockchain-based applications to verify user credentials w…
It is reported that Polygon has released a Web3 identity service called Polygon ID, which will allow blockchain-based applications to verify user credentials without disclosing personal information. This product can verify user data of blockchain applications while maintaining privacy on the chain; It uses zero-knowledge proof, which can verify data while encrypting data and hiding it from the verifier.
Polygon publishes a Web3 identity service named Polygon ID
Interpretation of the news:
Polygon, one of the leading blockchain infrastructure providers in the crypto space, has launched a Web3 identity service called Polygon ID. This new product offers a solution to one of the major challenges facing blockchain-based applications, which is the need to verify user identities without compromising their privacy.
One of the key features of Polygon ID is its ability to verify user credentials without disclosing personal information on the chain. This is possible because the product uses zero-knowledge proof (ZKP) to verify data while encrypting it and hiding it from verifiers. In other words, users can authenticate their identity to the blockchain without revealing their entire personal information.
ZKP is a cryptographic protocol that allows one party to prove to another party that they have knowledge of a specific piece of information without actually revealing the information itself. This technology has become increasingly popular in the blockchain space because of its ability to protect sensitive information while maintaining the veracity of the data.
Polygon ID provides a significant improvement on existing identity verification solutions for blockchain-based applications. With traditional verification systems, users have to go through a lengthy process of filling out forms and providing personal information. Users also risk having their personal data exposed to hackers and malicious actors. With Polygon ID, users only need to verify their identity through the creation of a unique identifier that remains anonymous.
Another advantage of Polygon ID is its ability to be used across different blockchain networks. As a result, users can use the same verified identity across multiple platforms, which saves time and effort.
In summary, Polygon ID is a significant development in the blockchain space that addresses the issue of identity verification while maintaining users’ privacy. With its use of zero-knowledge proof, the product ensures that no personal information is disclosed while providing a secure way to authenticate user identities. This development is key to the broader adoption of blockchain-based applications in various sectors, including finance, healthcare, and supply chain management.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/4359/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.