Identity

Polygon

The Polygon project has launched the fifth version of Polygon ID, a service for identification in the web3 space.
The tool allows&nbsp;<a href="https://crypto.news/tag/dapps/" data-type="link" data-id="https://crypto.news/tag/dapps/" rel="noopener noreferrer nofollow">dapps</a>&nbsp;to verify user data without revealing their personal information. Polygon (<a href="https://crypto.news/price/polygon/" data-type="link" data-id="https://crypto.news/price/polygon/" rel="noopener noreferrer nofollow">MATIC</a>) ID enables identity reuse and interoperability.
Once the issuer provides the information to the owner, it can be reused indefinitely as long as it remains valid and is not withdrawn by the issuer, according to <a href="https://polygon.technology/blog/polygon-id-release-5-boosting-credential-liquidity" target="_blank" rel="noopener noreferrer nofollow">the blog statement</a>.
Identity data can also be shared with other parties under the W3C VC standard. The fifth version has increased the number and variety of available accounts. The developers added a new network issuer to the update, improvements for the issuer node, and a new credential marketplace.
The new functionality simplifies the process and expands the possibilities for generating an account.
In early March, Polygon&nbsp;released&nbsp;<a href="https://crypto.news/polygon-unveils-open-source-version-of-its-decentralized-id/" rel="noopener noreferrer nofollow">a web3 identity service</a> called Polygon ID. With its help, users can confirm accounts without using personal information. Such an innovation can verify user data on the blockchain while maintaining privacy. It uses the so-called <a href="https://crypto.news/learn/zero-knowledge-proofs-explained-proving-you-know-a-secret-without-sharing-it/" data-type="link" data-id="https://crypto.news/learn/zero-knowledge-proofs-explained-proving-you-know-a-secret-without-sharing-it/" rel="noopener noreferrer nofollow">zero-knowledge</a> technology.
You might also like: <a href="https://crypto.news/polygon-shows-consistent-growth-in-q3-nansen-reports/" rel="noopener noreferrer nofollow"> Polygon shows ‘consistent growth’ in Q3, Nansen reports </a>

Polygon Labs reveals updated web3 identification service

crypto.news

Other articles published on Nov 14, 2023

MOON Surges 149% After Reddit Channel Mods Announce Roadmap

Bitcoin Drops Below $36,500 As Investors Await October CPI Data

Just-In: Crypto.com Secures Dubai License, Know More Here

OKX launches ZK-powered L2 network built with Polygon CDK

Ada Pola Double Bottom di SHIB, Apakah Relinya Akan Berlanjut?

Soft US CPI for October Likely to Push Fed Rate Hike to Next Year

Join our free newsletter for daily crypto updates!