Why zCloak is important for us as a decentralized ID infrastructure?
zCloak Network is a privacy-first decentralized identity (DID) and verifiable computation infrastructure that allows user identity verification without disclosing your real identity — It proves who you are, wthout telling who you are! Earier this year, it received seed-round investment from a number of big crypto players, including Coinbase, KuCoin, Matrixport Ventures, Jump Capital, Bixin Ventures, mong others.
zCloak is currently running a Crew3 campaign which give you special roles in their Discord. Don’t miss if you’re interested in the project!
Decentralized identity (DID)
zCloak, as a DID infrastructure, allows individuals and organizations to control their own identity information and share it selectively, rather than having it stored in a centralized database that is vulnerable to hacks and other security breaches. This can help protect user privacy and security and enable a more decentralized and trustless online ecosystem.
EXAMPLE — In the world of web 2, all users’ identity data are stored centrally. In 2016, Yahoo announced that 3 BILLION user accounts had been breached in a series of cyberattacks. 3 BILLIN users data were leaked and stolen by hackers! With a DID infrastructure, it will never happen!
In addition, a DID system can also provide a number of other benefits, such as enabling interoperability between different identity systems, facilitating the creation of verifiable credentials that can be used for a wide range of applications, and enabling the development of new applications and services that rely on decentralized identity.
Verifiable computation
zCloak is also a verifiable computation infrastructure, wich means that it’s able to prove the correctness and integrity of computation without revealing the underlying data. This can be useful in a variety of applications, including voting systems, supply chain management, and financial audits, among others.
Verifiable computation has several key advantages over traditional computation methods. For one, it enables the creation of transparent and trustworthy systems that can be used for a wide range of applications. Additionally, it can help protect the privacy of the underlying data, as the verifier does not have to access the data in order to verify the computation.
EXAMPLE — Assuming that you want to show to someone that you are indeed very wealthy (with more than 100 ETH in your wallet). However you don’t want to show them exactly how much ETH you have. With a verifiable computation infrastructure, you can have a cardential that shows you are owning more than 100ETH in your wallet, without disclosing any further details.
