A decentralized identification infrastructure stack called Polygon ID, developed by Polygon, a leader in blockchain infrastructure, will address the existing problem with digital trust in the DeFi sector.
Using an open-source license, the Polygon ID solution will enable developers to fill blockchain space with self-sovereign, decentralized, and private identification solutions for users.
The Polygon ID uses off-chain credentials and zero-knowledge proofs to communicate with smart contracts. It consists of a diploma, a driver’s license, or a national ID. In the process, Polygon asserts that users’ data and privacy are secure from unauthorized access.
The public release adds four new tools to the Polygon ID Toolset:
- Verifier SDK (for verifiers)
- Issuer Node (for issuers)
- Wallet SDK (for wallet builders)
- Wallet App (for devs and end users)
Anybody may “become an issuer (e.g., KYC providers, DAOs, etc.), verifier (e.g., dApps), or holder (i.e., users) of a Web3 identity” using the Polyon ID infrastructure stack, according to the blog post.
Users may also log in without a password to strengthen their defenses against hackers. The user experience will also be improved by features like reusable credentials and composable reputation.
Developers will be able to integrate decentralized identity into their apps by adding new capabilities.
Decentralized Finance and Decentralized Autonomous Organizations (DAOs) will both benefit from the launch’s ability to open up new use cases (DeFi).
Prior to the introduction of the Polygon zkEVM Mainnet Beta on March 27, Polygon issued the Polygoin ID.
Compiled by Coinbold