Team Behind Polygon ID Launch New Privado ID Wallet

CryptoNews.com

2024-07-09 02:53:21

Tanzeel Akhtar

Last updated:

July 9, 2024, 06:53 EDT | 1 min read

Privado ID, formerly known as PolygonID, has launched the Privado ID Web Wallet, with a speedier verification process.

Privado ID said its new web wallet allows 50% faster identity verification. The firm is a digital identity firm working with on-chain and online data and is a spin-off from Polygon Labs. The firm rebranded from Polygon ID to Privado ID in June.

The Polygon Labs spin-off Privado ID uses cryptography and zero-knowledge proofs (ZKPs) to protect personal data and identity. Privado ID allows individuals to prove their age, qualifications, and other traits without revealing sensitive personal information.

This is the first product release since spinning out of Polygon. Researchers and developers behind Privado ID have launched the wallet get rid of repetitive identity verification, such as Know-Your-Customer (KYC) checks when logging into applications, said the firm.

Privado ID Works With Gitcoin Passport and Verax

The firm said one of the first projects to work with PrivadoID is Verax, a public registry for storing on-chain attestations originally developed for the Linea zkEVM chain from Consensys.

“It [Privado ID] is already integrated with Gitcoin Passport, the privacy-focused oracle platform ZKPass, and other notable projects. Verax is part of Linea’s commitment to its community and eco, designed from the ground up for enhanced discoverability and composability,” said the firm in a press release.

The launch of Privado ID’s new web wallet lays the groundwork for what’s to come in the following months,” said Antoni Martin, Co-founder of Privado ID.

“We aim to create an open eco where new credential issuers can easily offer their services to all verifiers with minimal barriers to entry,” adds Martin.

Privado ID said it also plans to introduce a permissionless process to seamlessly integrate more credential providers into the flow.

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