San Francisco, CA - United States, December 12th, 2023, Chainwire
Ankr has released its newest product, “Ankr Verify,” which offers any blockchain or decentralized application the ability to define requirements for entry or use thanks to zero-knowledge user identity verification. The product has launched with clients Eclipse, Tomi, and Mina Protocol, already using the technology to advance user experience and compliance for Web3 apps deployed to their networks.
As a tool for Web3 user authentication, Ankr Verify will be important for enterprise compliance when rolling out blockchain initiatives, as it allows organizations to meet the KYC requirements of their country or jurisdiction without sacrificing user privacy.
Unlike traditional KYC methods, Ankr Verify allows blockchains and Web3 apps to verify customer data and satisfy regulations without access to sensitive user data – made possible by zero-knowledge cryptography. Users will access Ankr Verify to prove attributes about their identity by providing proof to Ankr’s KYC partner, Synaps. Synaps will be the only party ever to see, verify, or hold user data as a trusted and regulated KYC company – Ankr, nor any other company, protocol, or app will have access. From there, blockchains and web3 applications will be able to verify that a user meets requirements such as citizenship by only receiving “yes/no” answers, without needing them to upload an ID or disclose all of the sensitive information that comes along with it.
“Ankr Verify is not only a useful tool for businesses and blockchain foundations to place permissions on their networks and applications. Rather, it’s a new standard for easy Web3 user identification similar to what single sign-on did for the web. With a single, secure passport to Web3, users can access decentralized experiences without the headache of continuously uploading documents with their vulnerable personal data.”– Kev Silk, Senior Product Manager, Ankr
End users of Ankr Verify will exposed to an upgraded Web3 experience with secure and compliant blockchain networks and applications. In effect, Ankr Verify will act in a similar manner as a single sign-on applied to the decentralized web. Users will only need to verify their private information once to gain access to entire ecosystems of applications.
Ankr Verify seeks to unite the best practices of KYC compliance and Decentralized Identity (DID), making government-sanctioned Web3 use cases possible while still maintaining the unique privacy and autonomy benefits that blockchain provides. Ankr Verify is just one tool in a suite of Web3 infrastructure products designed to assist developers in creating the next generation of blockchain applications.
About Ankr
Ankr is an all-in-one Web3 developer hub that provides a full suite of tools to build Web3 apps and power them with high-performance connections to 40+ blockchains. They provide multi-chain dApp development tools, blockchain engineering services, crypto staking solutions, and a globally distributed node infrastructure that makes it all possible. Ankr’s products make it easy for anyone to build and earn on Web3 and participate in the crypto economy for a more decentralized, democratic, and user-owned web experience.
For media queries, please contact: Fabio Wehb Ferrari, fabio@ankr.com
Contact
Head of PR
Fabio Wehb Ferrari
Ankr
fabio@ankr.com
Disclaimer: Press release sponsored by our commercial partners.