Polygon introduces a decentralized ID product based on ZK proofs
March 2, 2023 7:50 AM
Polygon ID's public introduction comes 12 months after it was first released in a limited environment to a select set of creators.
Polygon, an Ethereum layer-2 scaling protocol, has released a zero-knowledge decentralized identification solution to the public about a year after first announcing its development.
The Polygon ID service employs zero-knowledge proofs (ZK proofs), which employ cryptographic techniques to allow users to authenticate their identity online without their sensitive information being shared or potentially stored with a third party.
Polygon ID was made public by Polygon Labs on March 1, over a year after it was first announced in a closed-source setting.
According to the Polygon team, Polygon ID was created to "address the issue of digital trust."
Polygon claims that its "zero-knowledge" implementation makes its decentralized ID framework stand out from the competition since it allows users to confirm their identities and other credentials without having to expose private information.
The public release adds four new tools to the Polygon ID toolkit: Verifier SDK, Issuer Node, Wallet SDK, and Wallet App, allowing Polygon developers to integrate decentralized identification into their apps.
A straightforward diagram demonstrating how Polygon ID interacts with user credentials. image source: Polygon
Users will be able to engage with smart contracts and validate information on-chain by producing zero-knowledge proofs using off-chain credentials such as a passport, national ID, or a bachelor's degree.
"This means that off-chain data may now be used for trustless on-chain verifications in the widely used Verified Credential format," says the company.
Polygon claims it is also the first ZK-based digital ID technology that allows users to save credentials locally on handheld devices such as cellphones, and that passwords are no longer required:
"By scanning a QR code or connecting to a desktop wallet, passwordless logins exchange encrypted verified credentials. Businesses can benefit from increased security, a better user experience, and increased productivity of system administrators whose time is not consumed by password resets."
In a March 1 tweet, Polygon ID co-founder David Schwartz stated that the solution was created "on the newest decentralized identity standards," which will help safeguard developers and users from unlawful access from third parties.
"The holy grail of digital ID adoption is providing identity in a form that the common consumer can utilize," he explained in a separate press statement.
Many projects, including Web3 infrastructure provider Kaleido, ID verification solution Fractal, and Web3 community management system Collab.Land, have already committed to integrate Polygon ID upon launch. According to Polygon, they have a combined user base of nearly 4 million.
Polygon ID is also being integrated into other Web3 initiatives, like metaverse platform The Sandbox and blockchain building community Guild.xyz.
Following the revelation, the price of Polygon's native token, MATIC MATIC, climbed 2.5% in a matter of hours, rising from $1.22 to $1.25 before sliding back to $1.23.
Quadrata and IDNTTY are two other blockchain-based ID systems available today.