Polygon launches Polygon ID to protect your identity

Polygon tackles decentralized identities – Polygon is one of Ethereum’s scaling solutions. This evolves in parallel with the main blockchain and ensures reduced transaction costs for better performance. However, Polygon is not just about its L2. Indeed, Polygon teams are constantly deploying new tools and infrastructures.

Polygon ID: identity on the blockchain

For several years, various companies and developers have been studying solutions to offer a new identity medium, fully decentralized, private and self-sovereign.

Obviously, blockchains turned out to be a dream infrastructure for this type of application. And that, Polygon has understood.

Thus, on March 29, Polygon unveiled a new product: Polygon ID.

Announcing Polygon ID.

In practice, Polygon ID is a decentralized identity service secured by the use of zero-knowledge (ZK) cryptography. This should be fully operational in the third quarter of 2022.

In practice, Polygon ID boils down to:

  • Blockchain-based identification for decentralized and self-sovereign models;
  • Native zero-knowledge protocols for absolute user privacy;
  • Private and scalable on-chain verification to boost decentralized applications and decentralized finance;
  • An openness to existing standards and the development of the ecosystem.

Under the hood, Polygon ID is based on the Iden3 protocol as well as the Circom ZK suite of tools.

“Polygon ID is private by default, offers on-chain verification and permissionless attestation. There’s nothing in the digital identity space right now that ticks all of those boxes. It’s also a great showcase to show how zero-knowledge proofs can help us create a better world. »

Mihailo Bjelic, co-founder of Polygon

Through this service, users will be able to transmit their identity to protocols that require KYC verifications. However, only proof of validity will be transmitted to the protocol. Thus, the user’s personal information remains confidential.

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Polygon doubles down on zero-knowledge

It has now been several months since Polygon flaunts ambitions for zero-knowledge cryptography (Zeroknowledge).

Thus, in turn, Polygon unveiled Polygon Miden and Polygon Zero, two second layer solutions based on the rollup model and more particularly zk-Rollup.

In addition, the project also announced the creation of a fund for $1 billion. Its main objective is to finance research and the development of zero-knowledge.

In parallel, the other second layer Ethereum solutions also continue to evolve. Thus, the Optimism network has enabled its users to save $1 billion since its launch. Further fee reductions are expected to occur in the coming months.

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Polygon launches Polygon ID to protect your identity

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