March 2, 2023
It’s a Saturday night, you just turned 21, but you have not yet received your new state ID in the mail yet. Your crypto bros really want you to come to the bar to celebrate your first legal drink. So what do you do? Carry your passport around? Well as a crypto guy, you remember that Polygon launched a new Polygon ID product based on Zero-Knowledge (ZK) technology.
This technology is especially important and unique because it will allow users to verify their identities or credentials without revealing sensitive information. Considering how identity theft is fairly common, ZK technology is even more of a justification as to why it’s more secure.
Zero-knowledge technology is a type of cryptography that has been the topic of conversation for a long time now. You will no longer need to routinely provide personal information to various online applications, different websites, and even to bartenders.
In terms of how this Polygon ID will be used in the crypto space, this ID could be beneficial in certain cases such as the “Know Your Client” process required for DeFi platforms and centralized exchanges. Polygon Labs have integrated this identity toolkit technology into Polygon zkEVM, which is anticipated to launch later this month.
So, now you know that this Polygon ID could possibly save you from a night of boredom. So cheers to zero knowledge proofs!
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