• Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
Wednesday, July 6, 2022
No Result
View All Result
Our Bitcoin News
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
No Result
View All Result
Our Bitcoin News
No Result
View All Result

Polygon to offer privacy solutions using ZK-proof technology

News
by Kurt Ebenzer
30 March 2022
Polygon to offer privacy solutions using ZK-proof technology
Share on FacebookShare on Twitter

Ethereum layer 2 solutions provider Polygon has now developed a new technology that aims to preserve user privacy.

Leveraging the zero-knowledge proof technology, Polygon is launching Polygon ID, a new identity platform that allows access to dApps requiring customer verification (KYC) without revealing any personal information.

A blog post shared by the Polygon team revealed several features of the new solution. Since Polygon ID uses zero-knowledge proofs, users will be identified based on computational proofs rather than sharing verifiable credentials with Web3 platforms. It enables on-chain authentication and eliminates the need to rely on a centralized intermediary.

“Polygon ID is private by default, offers on-chain verification and permissionless attestation. There is nothing in the digital identity space now that ticks all these boxes,” said Mihailo Bjelic, Polygon’s co-founder in the blog post. “It is also a great showcase for how zero-knowledge proofs can help us create a better world.”

According to the layer 2 platform, the latest privacy solution will have individual benefits for every web3 protocol, including DeFi platforms, web3 social media, DAOs, NFTs, and more.

Last year, Polygon acquired two zero-knowledge proof (ZK) projects, Hermez and Mir to accelerate its development in space. In addition, it has also allocated $1 billion to ramp up ZK-rollup-related technological efforts.

Previous Post

Crypto exchanges ByBit, Crypto.com to establish regional operations in Dubai

Next Post

Visa’s new creator program to help artists grow businesses using NFTs

Kurt Ebenzer

Kurt Ebenzer

Kurt is an experienced writer with vast experience in documentation and interpretive math. His path to crypto journalism starts with Ourbitcoinnews and he hopes to shine new light in the noisy crypto media space.

Related Posts

New bipartisan bill seeks to make CFTC official cryptocurrency regulator

New bipartisan bill seeks to make CFTC official cryptocurrency regulator

by Gauri Bhatia
29 April 2022

Some US bipartisan lawmakers have submitted a bill that seeks to foster innovation in the cryptocurrency space and build a...

Animoca Brands establishes joint venture with OneFootBall following $300M round

Animoca Brands establishes joint venture with OneFootBall following $300M round

by Gauri Bhatia
29 April 2022

Hong Kong-based Web 3 giant Animoca Brands has now formed a strategic joint venture with OneFootball, Football news and media...

Goldman Sachs issues its first Bitcoin-backed loan: report

Goldman Sachs issues its first Bitcoin-backed loan: report

by Damien Martin
29 April 2022

Goldman Sachs has taken another bullish step towards the digital asset space, now offering Bitcoin-collateralized loans to its customers, media...

No Result
View All Result

Recent Posts

  • Understanding the Tokenomics of ZNT: DeFi protocol Zenith’s official token
  • Huobi Incubator kicks off Web3 Hackathon to foster next generation of Web3 start-ups
  • Huobi Incubator concludes BeWater DevCon 2022 encouraging dialogue amongst developer communities
  • Huobi Global and PrimeEarn provide one of the best experiences and profits
  • Sharknado Co-Creator and Snowpiercer Producer Launch New Token $FLIX to Revolutionize Indie Film
Our Bitcoin News

© 2021 Our Bitcoin News

Navigate

  • Home
  • Press Release
  • Sponsored
  • Our Journalists
  • Advertise
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

Follow Us

No Result
View All Result
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners

© 2021 Our Bitcoin News