Polygon Unveils New Zero-Knowledge Identity Solution

In essence, a bar owner can verify a customer's age using Polygon ID without needing to view any physical ID.

Polygon Unveils New Zero-Knowledge Identity Solution – Source: Cryptoslate

On the evening of March 1, Polygon announced the upcoming launch of its new product, Polygon ID, which leverages Zero-Knowledge Proof (ZK) technology to verify user identities while keeping their personal information confidential.

According to the company, the Polygon ID toolkit is designed to assist developers with unlocking user interfaces, ensuring regulatory compliance, verifying identities, managing access, and other tokenized features.

Polygon ID can be utilized for KYC processes on centralized exchanges, DeFi platforms, as well as fiat on-ramps and off-ramps.

Zero-Knowledge technology is one of the hottest trends this year as it eliminates the need to frequently provide personal information to websites or online applications. This technology has long been regarded as a significant advancement with potential use cases for blockchain systems.

To illustrate, consider this example: When trying to enter a bar, users typically need to provide physical identification to prove their age. With Polygon ID, users only need to present a proof.

This proof can be executed off-chain or on-chain through smart contracts. The Polygon Labs team plans to integrate this identification toolkit into Polygon zkEVM, which is expected to launch later this month and is highly anticipated by the community.

zkEVM is a layer-2 solution for Ethereum, developed using zk-Rollups and employing Zero-Knowledge Proof methods to verify data and enhance privacy.