The ZK based protocol allows blockchain networks to validate transactions without disclosing the data. In this, only the entities associated with the transaction can get more information about the transaction. This allows users to easily transact on the Ethereum network and at the same time keep their personal information secure. Polygon explained in a blog post that this is the first service of its kind that will feature ZK cryptography, privacy and blockchain scaling technologies. ZK cryptography allows transactions and personal information to be verified without giving up control of the information.
Polygon said it plans to spend more than $1 billion on projects involving ZK cryptography. The ZK proofs in the Polygon ID will be used to prove the identity of the user for Know Your Customer (KYC) verification. Users will not need to submit personal documents for this. Using Polygon ID, users will not have to disclose their personal information to companies requiring KYC. Polygon says that this service can be used in other ways as well. This allows for decentralized credit scores and in the player’s profile for Web 3 games. Polygon ID will be open source and will be completed with its own software development kit, which will allow any blockchain protocol to be modified for their own use.
Recently issuance of caste certificate on Polygon has been started in Maharashtra. Caste certificates are being issued on the Polygon blockchain-based platform LegitDoc to residents of Gadchiroli district and Itapalli village in the state. This allows these certificates to be verified immediately.
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