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- 1 zkPass is a privacy-preserving protocol that recently launched its Pre-alpha Testnet for public testing.
- 2 The platform has already emerged as a scalable solution for a number of industries.
- 3 It brings multiple decentralized solutions together and addresses many long-standing issues.
zkPass is a unique protocol that dominantly focuses on preserving privacy. It brings multiple factors into operations and safeguards data in a decentralized manner. This platform deploys three-party transport layer security (3P-TLS), zero-knowledge proofs (ZKP), and multi-party computation (MPC). Exploiting blockchain in the best possible manner, zkPass makes a great contribution to the crypto space. Today, it is ready to take its efforts one step ahead.
A Peep Into Public Testing
zkPass has been strengthening its Pre-Alpha Testnet for quite some time now. The developers have been beefing up its security while making it more adaptable. With public testing, the protocol takes its private data verification to a whole new level. zkPass is introducing TransGate. It is a portal for validating data from any HTTPS website selectively and privately.
This program will execute various types of data together. It can oversee:
- Financial records
- Social interactions
- Legal identity
- Education
- Skill certifications
- Healthcare details
- Work history.
All those operations take place without disclosing personal data to intermediaries. Moreover, it will make zkPass more adaptable for different commercial entities.
It would become very helpful for DeFi lending protocols and data marketplaces. Every enterprise seeking trust and privacy will use zkPass’s solution. It will integrate cryptographic technologies like ZKP and MPC. Users will be able to validate their private data without uploading files containing sensitive data.
Some Use Cases of zkPass
- It is very helpful to Metaverse/GameFi programs that require safe but rigorous data validation norms.
- It is also very useful for DAO-based services that ensure privacy and trustworthiness.
- The DeFi lending platforms can make the most of this protocol. It can seamlessly verify data for services like mortgages, lending, borrowing, etc.
- It can be a great help for universities that need to safeguard their students’ data.
- It can also make the bank and other financial institutions’ websites impervious to data breaches.
- It enables all HTTPS-based websites to use the data responsibly while avoiding third parties.
Who All Can Try The Public Testings?
zkPass has received a tremendous response to the Pre-alpha Testnet since its launch. The platform already has over 200,000 signup applications. Besides, thousands of whitelisted users have produced more than 100,000 zero-knowledge proofs. All of them have their own ownership, identity, and private data. The platform has prioritized feedback to an immense degree.
Furthermore, it has invited all tech enthusiasts to check the Pre-alpha Testnet. It has asked them to closely evaluate the data practices. According to the platform, it will help in shaping the future of data privacy. Along with sharing users’ perspectives, it enables them to contribute to the platform’s improvement.
How Is It Impacting Crypto Markets?
With this initiative, private data verification reaches an advanced level. It becomes more useful for various decentralized and centralized entities. On top of that, it empowers HTTPS websites to streamline their work. It makes their functionality robust and helps them secure all the information. Prioritizing privacy and trust makes security unbreachable for every enterprise. zkPass is certainly shaping up the future for many industries.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
