Polygon, a well-known layer-2 blockchain scalability platform, used Twitter to announce the much-anticipated launch of Polygon ID, a zero-knowledge decentralized identity solution. It has released four tools in the Polygon ID: Issuer Node, Verifier SDK, Wallet App, and Wallet SDK.
Polygon’s ID service employs cryptographic techniques and intends to employ zero-knowledge proofs (ZK proofs) that enable developers to construct private identification solutions that enable users to validate their online identity without requiring sensitive information to be uploaded to the blockchain. This cutting-edge cryptographic technology preserves on-chain privacy, allowing users to undertake KYC verification without releasing critical information to the public.
Polygon announced its strategy and plan in March 2022, and after a year, it is now available to the public. As it is an open-source license, anyone can become a holder, issuer, or verifier using the Polygon ID infrastructure. As a result, the off-chain data will be used for skeptical verifications in the Verified Credential format.
Polygon ID reveals some cases, such as:
- Real-world credentials meeting Web3
- Don’t trust, verify
- Enhanced user experience
- Compliance without sacrificing privacy
- Enabling login without a password
- e-commerce onboarding
- usage in KYC programs
- used by banks as a tool to issue undercollateralized loans
Polygon ID is different from other ways to prove your identity because it uses zero-knowledge proofs (ZKPs). Polygon said developers could use its ID service to give verified users access to exclusive content and meet legal requirements.