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Sunday, December 22, 2024
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    bitcoin
    Bitcoin (BTC) $ 95,378.55
    ethereum
    Ethereum (ETH) $ 3,273.97
    tether
    Tether (USDT) $ 0.999868
    bnb
    BNB (BNB) $ 648.18
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    USDC (USDC) $ 1.00
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    XRP (XRP) $ 2.20
    binance-usd
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    Cardano (ADA) $ 0.885476
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    matic-network
    Polygon (MATIC) $ 0.472316
    polkadot
    Polkadot (DOT) $ 6.82
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    TRON (TRX) $ 0.243976
    HomeFinancePolygon ID turns into obtainable on Ethereum after partnership with Rarimo

    Polygon ID turns into obtainable on Ethereum after partnership with Rarimo

    Crypto.information – Interoperability Protocol Rarimo has partnered with Polygon ID, enabling its verifiable credentials infrastructure for use throughout a number of blockchains.

    Rarimo, a device that helps completely different blockchains speak to one another, has partnered with Polygon ID, an id verification system, to make their id verification instruments obtainable on many alternative blockchains, turning Polygon ID right into a multi-chain device.

    Polygon ID beforehand solely allowed id checks on the blockchain the place they had been first carried out. For instance, should you created your ID on Polygon, you can not apply it to (ETH), which implies customers should create a brand new ID for every blockchain. However now, with this partnership, credentials created on Polygon (MATIC) can be utilized on Ethereum. Different blockchains like BNB Chain (BNB) and (AVAX) are additionally anticipated to hitch this listing quickly.

    Polygon ID makes use of Self-Sovereign Id (SSI), which permits establishments reminiscent of banks or governments to problem necessary paperwork reminiscent of faculty levels or driver’s licenses. Customers can maintain these paperwork in personal digital wallets and select when and the place to indicate them. A way known as zero-knowledge proof is used which permits customers to show they’re who they are saying they’re with out revealing any personal data.

    See also  TRON (TRX) and Lightchain AI face off: which cryptocurrency delivers on its guarantees?

    Polygon ID, first launched in March 2022 and made obtainable free of charge in March of the identical yr, is the primary and solely system to make use of such zero-knowledge proofs for off-chain paperwork. This permits customers to submit their paperwork to good contracts and have interaction with on-chain dapps or decentralized purposes. These zero-knowledge proofs not solely affirm the existence of the doc, but in addition shield the person’s data.

    The partnership between Rarimo and Polygon ID exhibits a future the place customers can simply use paperwork from a wide range of sources, each on and off the blockchain, throughout many alternative methods and dapps. It additionally brings an idea of a future the place customers, and never corporations like Meta and Google (NASDAQ:), are answerable for their identities, making the method of verifying identities safer and extra personal.

    This text initially appeared on Crypto.information

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