Polygon leverages zero-knowledge evidence to improve user privacy
On March 29, Polygon unveiled an identity service as the latest addition to its upcoming suite of zero-knowledge (ZK) protocols, the project announced in an official statement. blog post.
Zero-knowledge based protocols enhance privacy by allowing blockchain networks to validate transactions without disclosing data other than the time and date on the blockchain. Only entities involved in a transaction can access more details about a transaction.
This move is designed to allow users to transact on Ethereum while protecting the sanctity of their personal information in a far greater way than they currently can. As for Polygon, offering a rich variety of ZK-based protocols positions the team as a frontrunner in the technology that it and many others believe will define how blockchains will be used in the future.
Social reputation systems
When fully launched, the Polygon ID product suite will include a wallet application, an ID login service, and a comprehensive ID management platform for developers and organizations. The protocol can also be used for Know-Your-Customer compliance, social reputation systems, and private decentralized voting.
Polygon is also making the move in anticipation of Ethereum moving to proof-of-stake later this year. Zero-knowledge proofs will allow blockchains such as Ethereum to accommodate more users by offering advanced privacy features not currently supported by the network.
How Zero-Knowledge Proofs Became Ethereum’s Magic Bullets
Vitalik Buterin has frequently highlighted the critical importance of zero-knowledge proofs to Ethereum’s scaling roadmap in recent months. While ZK proofs have been part of the Ethereum roadmap since 2016Buterin’s December article “End of Gamedescribed ZK-based rollups as a key focus of the Ethereum ecosystem for years to come.
“I expect ZK-SNARKs to be a big game-changer as they permeate the mainstream world over the next 10-20 years,” Buterin said. commented on Twitter in September.
The Polygon movement has been in development for quite some time. In August 2021, Polygon announced that it would embrace zero-knowledge technologies and assigned $1 billion for the acquisition of state-of-the-art assets, the hiring of experts and the design of new products. In recent blog posts, Polygon describe ZK Technologies as “the end game for blockchain scaling” and its “major strategic bet moving forward”.
Users under control
Polygon has also merged with the ZK scaling solution Hermez last August and partnered with Ernst & Young on the third release of their ZK-based rollup Nightfall in September. Polygon unveiled its next STARK-based EVM-capable build, Polygon Miden, in November. The team then unveiled the ZK recursion proof solution, zero polygon, at his ZK Day event in December. The event also hosted a panel discussion with Ethereum co-founder Vitalik Buterin.
Polygon says its new identity platform is the first to be powered by ZK cryptography.
The service is described as a “blockchain-based ID for decentralized and self-sovereign models” offering “scalable and private on-chain verification” for DeFi dapps. “Leaving users in control of their identity and personal data is a way to enable social coordination and take power away from third parties,” the Polygon team wrote in a statement.
The team points out that ZK-based identity solutions enable a wide range of use cases, including private DAO voting, censorship-resistant P2P communications, KYC applications, and social reputation scores.
“Polygon ID is private by default, offers on-chain verification and permissionless attestation,” said Mihailo Bjelic, co-founder of Polygon. “It’s also a great showcase to show how zero-knowledge proofs can help us create a better world,” he added.
Developers will be able to use the protocol using its upcoming ID client toolkit. The kit includes a software development kit and native application templates. The team predicts that Polygon ID will be fully launched in the third quarter of 2022.