Polygon has launched a Web3 identity service

The Polygon project has launched an identity service in the Web3 space called Polygon ID.

ZERO KNOWLEDGE IDENTITY FOR WEB3

The Polygon ID team is excited to announce 4 tools have been released in the #PolygonID Identity Infrastructure to build a more equitable internet that places identity at the center of it.

The future is self-sovereign⛓?https://t.co/h66KyDurJE pic.twitter.com/jTBbzBNVJk

— Polygon (@0xPolygon) March 1, 2023

The tool will allow blockchain apps to verify user data without disclosing their personal information.

The service uses zero-knowledge proofs, which allows it to authenticate accounts while keeping them encrypted for the verifying party.

“Polygon ID provides compliance with requirements for both Web 2.0 and Web3 industries, which strengthen the regulatory framework through checks KYC/AML. The ability to reuse and the self-sovereign nature of the credentials also lowers the cost, time and complexity in registering and verifying users”, — according to a Polygon statement.

The blockchain platform has already released a toolkit for developers.

The utility has been tested by some crypto and NFT projects, including Kaleido, Fractal and Collab.Land.

The Polygon team is also integrating the development into a future Ethereum scaling solution — zkEVM, whose beta version will be launched on March 27.

Earlier this year, in late February, network representatives announced a 20% reduction in staff. The layoffs affected about 100 employees.