RNS ID Partnership with zkSync

Published on: 25.11.2022
RNS.ID Partnership with zkSync

RNS ID, the Republic of Palau’s official blockchain identity for its Digital Residency Program, announced a partnership with zkSync, to support the platform’s On-Chain KYC Solution.

RNS ID partnership with zkSync is to launch its On-Chain KYC with its privacy engine, a trustless and verified identity compliance in Web3.

Introduction

zkSync, which is regarded as the key innovation in RNS’s digital ID program. Is attempting to support its functional privacy features for on-chain legal ID. By implementing zero-knowledge proof and Merkle root-hashed ID properties.

These features provide users and businesses with complete autonomy over their own information and data. While also reducing transaction time during the KYC verification process.

The On-Chain Trustless KYC Solution

This method eliminates the user’s multiple verification processes by different requirements. This functionality creates a “mask” of one’s personal information through ZK Proofs without revealing one’s sensitive data, enabling unrestricted access to and use of the web3. RNS API allows multi-single integration points to the security features in the onboarding process.

This solution for the new KYC paradigm for zero-knowledge proof implementation is verifying identification without penetrating customer privacy; leveraging self-sovereign and zero-knowledge proofs is on the frontier of research.

The Advantages

While it is believed to provide support to the growing ecosystem of infrastructure among crypto enthusiasts. It will also pave the way to its marketing support and expansion of the geographical reach of RNS’ digital ID program and future digital projects and initiatives.

On the other hand, zkSync’s continued innovation and rollups offer enhanced privacy, ease of use, lower fees, and scalability.

This on-chain trustless KYC breakthrough provides an avenue to both platforms’ system integration of on-chain identity verification and programmable privacy features of blockchain native identity. It also aims to support global exchanges and bring trustworthy customers easily to its platform.

zkSync ‘s L2 to L3 ‘Opportunity’

zkSync’s rollups bring Ethereum to a higher level of scalability, security, customization, and high performance while maintaining its low fee.

As the precursor to Layer 3, Layer 2 or zkSync 2.0. Promises to provide every project with the complete security of Ethereum and be permanently future-proof. In its quest to offer constant solutions to Ethereum’s network performance. zkSync is set to deploy an architecture upgrade called the L3 ‘Opportunity’ or zkSync 3.0 early next year on a public testnet.

The Layer 3 ‘Opportunity’ prototype will provide significantly higher security, limitless customization, and trustlessly linked yet cheaper blockchain technology. It will inherit the full features of its predecessor, L2, but a better version, especially in security. Shielding from fraud and hacks in a very hostile digital environment. It shall also be an upgrade to perform faster transaction speed, reduce data cost, and ease of use, making app creation 10x easier.

About RNS ID

RNS ID is the world’s first Web3 legal identity platform. The RNS platform gives users universal access to virtual government services. It offers global citizens unprecedented access to borderless economic freedom and a new democratic paradigm in a borderless digital world.

Website | Twitter

About zkSync

zkSync is a ZK rollup, a trustless protocol that uses cryptographic validity proofs to provide scalable and low-cost transactions on Ethereum.

Website | Twitter

SOURCE

https://www.prnewswire.com/news-releases/zksync-to-support-rnsids-on-chain-kyc-solution-301684486.html

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