The Polygon project has launched the fifth version of Polygon ID. The tool allows dapps to verify user data without revealing their personal information. The service uses zero-knowledge proofs, which allows it to authenticate accounts while leaving them encrypted for the relying party.
Polygon 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the issuer provides the information to the owner, it can be reused indefinitely as long as it remains valid and is not withdrawn by the issuer. Identity data can also be shared with other parties in accordance with the W3C VC standard. The fifth version has increased the number and variety of available accounts. The developers have added a new on-chain issuer, improvements for the issuer node, and a new credentials marketplace. The new functionality is designed to simplify the process and expand the possibilities for generating an account.
Over the past few days, Polygon’s native cryptocurrency MATIC has risen sharply in price. At the time of writing, the price of MATIC increased by 6% and reached $0.93. Thanks to this, MATIC increased its weekly growth to almost 30% and its monthly growth to more than 80%.
Image: The Crypto Times
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