Web3 is currently being built and at the forefront of it all it looks like privacy will be one of the key aspects of it all. This comes in the shape of a digital identity that can be used across the entire web as a proof that you are who you say you are. It's actully super powerful if implemented correctly and Polygon seems to be moving head first into this space.
The all new ZK-Proof Based Identity from Polygon what is it or what will it be?
It's actully been around in theory for many years now. It's a cryptographic technique that allows people to prove their digital identities without revealing private information about that person.
The theory of this was developed in the 80s by MIT researchers and is otherwise known as ZKP. There are two methods of ZKP interactive and non-interactive.
Interactive is a set of tasks the prover has to do in order to verify.
Non-interactive is a decentralized method which I think is what will catch on the most which does not require any prover or verifier interaction.
“Polygon ID is private by default, offers on-chain verification and permissionless attestation. There is nothing in the digital identity space now that ticks all these boxes,”
Polygon co-founder Mihailo Bjelic
A big reason for this move it seems is for KYC compliance from the looks of it. Which I legit hate on all levels and I won't operate with any platform that requires it. It can also be used in such cases as reputation profiles for web3 games, peer to peer communication for social applications that are private and censorship resistant. It's also going to be open source so developers will be able to use it how they see fit.
Unfortantlly KYC is going to become more and more demanding as applications release. The most recent one that came under some serious fire from users is Bored Ape Yacht Club requiring KYC verification for its new metaverse collaboration with Animoca Brands. It's gonna get interesting that's for sure.
Web3 seems like it's going to be mainly privacy focused so tokens like Zcash and Monero. It also seems like a key or like we are seeing above with proof based identity with decentralized methods might be the play as well. However these features as far as I know are not currently out and still theory and being built. However being able to fully control permissions while providing proof and
