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Polygon to offer privacy solutions using ZK-proof technology

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by Kurt Ebenzer
30 March 2022
Polygon to offer privacy solutions using ZK-proof technology
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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.

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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.

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