HONG KONG–(BUSINESS WIRE)–zCloak Network‘s new product, Valid ID, officially launches in public beta today. Valid ID is a new product for entity identity registration and verification. As the Web3 industry grows, the on-chain trust issue has become prominent. Traditional identity solutions such as CA and PKI or PGP and Web of Trust have inherent problems. Now the zCloak team proposed a new solution: Multi-Party Attestation Based Web of Trust, and launched the Valid ID platform based on it.
Valid ID is designed to provide a secure and decentralized way for organizations to prove their identity and issue credentials. Users can complete all operations on the platform with an Ethereum wallet in addition to the zCloak zkID wallet. zCloak implemented DID and VC enables any organization to onboard the platform and provide attestation services to other organizations, effectively creating a decentralized trust network. Valid ID also provides unique protection in a cryptographic and legally binding way to verify and anchor the real identity of organizations, ensuring the authenticity and validity of organizations.
As a key component of zCloak Network’s product ecosystem, Valid ID solves the problem of “who is the third-party trusted entity that issues verifiable credentials?” Additionally, zCloak ZKP solution ensures the correctness of the user-end identity authentication computation process; VC technology ensures the correctness of the user-end data.
The potential applications of Valid ID extend beyond digital credentials. For example, Valid Sign is a signature tool for publishing signed data in the form of text, images, documents, etc. Trust Tree is another tool for constructing Web3 organizational structures. In order to become the cornerstone of trust for the Web3 industry, the platform will also introduce the Valid Name mechanism, which links domain names directly to organizations’ legal names; and the Valid Score mechanism, which provides a quantitative evaluation of social attestation results between organizations.
Valid ID is now available in public beta, and zCloak invites organizations to join. Early adopters can enjoy exclusive benefits like free Valid Name, and we welcome security auditors, rating agencies, and organizations with business and legal data to help build the Web3 Trust Network.
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Source: https://thenewscrypto.com/zcloak-network-introduces-valid-id-in-public-beta-a-solution-for-web3-entity-identity/