On the 1st of March 2023, Mihailo Bjelic, Co-founder at Polygon, posted on his official Twitter account announcing the release of a privacy solution for Web3 developers.
https://twitter.com/MihailoBjelic/status/1631042242373713921
Polygon, a popular scaling solution for Ethereum, has launched its long-awaited decentralized ID service powered by zero-knowledge protocol to enhance user privacy. Polygon says that it unlocks passwordless login, verifiable proof-of-uniqueness, reusable KYC, and instant onboarding use cases for web3 developers.
Attached to the thread is a tweet from the official Twitter account of Polygon developers. It referred to Polygon ID as “the missing piece” in the Self-Sovereign Identity puzzle and an implementation of the Iden3 Protocol.
Further in the thread is the 1993 quote, “On the Internet, nobody knows you’re a dog.” from a famous New Yorker cartoon featuring a mutt surfing the Web, highlighting a major online identity issue. For decades, large enterprises have farmed user identity in service of surveillance capitalism. Today, with the release of the Polygon ID self-sovereign identity infrastructure, developers are one step closer to solving the issue of digital trust.
As a Web3 solution, Polygon ID leverages the Iden3 protocol and Circom zero-knowledge proofs (ZKPs), an advanced form of cryptography used to preserve privacy on-chain. Polygon ID also has the benefits of decentralization, private on-chain verification, and composability, allowing users to verify their identity without publicly exposing sensitive information.
Also, Polygon ID is employed in KYC programs, e-commerce onboarding, and passwordless logins. Banks and DAOs can use it as a tool to issue undercollateralized loans. This will enable businesses to say goodbye to user data management problems, and individuals can control their data usage when building with Polygon ID.
Polygon ID also unlocks a host of use cases, including, Issuance of elaborate proofs, real-world credentials meeting Web3, enabling passwordless login, enabling users to have a composable reputation, and aiding in compliance to help verify user identity without sacrificing user privacy.
Added to the release of Polygon ID are four new tools integrated into the SSL infrastructure. the verifier SDK, issuer node, wallet SDK, and wallet app. this would confer developers the ability to meet compliance requirements in the Web3 way.
Polygon rounded up by saying that collaborators have already flocked in and are seen to have begun the process of building using Polygon ID’s Identity Infrastructure, all of whom are pushing the boundaries of digital identity in Web3 by providing users security without compromising their privacy.
