Galxe unveils the debut of Identity Protocol, offering a user-focused identity system prioritizing privacy, security, and self-rule.
Through Zero-Knowledge Proofs (ZKP), Galxe Identity Protocol enables users to manage their digital identities and personal information during verifications in public domains. As stated in the company’s blog, this innovation gives users more control over their digital identity and privacy.
With this launch, we enter a fresh era for handling and exchanging trustworthy digital identifications throughout the web3 community. Employing Zero-Knowledge Proof (ZKP) technology, the protocol ensures secure authentication, maintaining privacy and preserving the confidentiality of individual data.
Galxe tackles issues such as proof duplication by implementing an identity commitment scheme. This feature improves privacy and ensures data cannot be traced during on-chain verifications.
Attention: The Galxe Identity Protocol Mainnet is now live! Manage and securely share verifiable credentials in the Web3 world with ease. Our decentralized infrastructure and zero-knowledge proof technology ensure maximum safety and control over your digital identity. Find out more by clicking “Learn more” 👉.
— Galxe (@Galxe) April 11, 2024
In simpler terms, this protocol makes it easier to generate new credentials without needing any coding knowledge. It simplifies the process of issuing credentials by allowing for the creation of unique tokens, called Soulbound tokens, through an aggregating system.
The protocol’s structure allows for multiple uses, such as thwarting Sybil attacks, establishing decentralized reputation and financial systems, creating a marketplace for personal data, providing secure identity authentication, implementing decentralized review processes, and developing transferable recognition systems. The adaptability seeks to boost the usefulness and worth of user accomplishments across diverse platforms.
Galxe, a business specializing in web3 infrastructure and digital identity networks, contributes to this project with a range of offerings: Galxe Quest, Galxe Passport, Galxe Score, Galxe Compass, and Alva. These tools facilitate the creation of web3 apps.
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2024-04-11 18:55