- Ankr has launched a revolutionary verification solution that utilizes zero-knowledge cryptography.
- With this product, users can undergo the KYC process without compromising their personal data.
Ankr, a leading infrastructure provider, has recently unveiled its cutting-edge solution called Verify, as reported by Incrypted.
Targeted towards the corporate sector, Ankr Verify is a user verification tool that enables the implementation of authentication mechanisms for blockchain solutions, satisfying KYC requirements specific to a jurisdiction, according to a press release.
What sets Ankr Verify apart from its competitors is the utilization of zero-knowledge cryptography, ensuring that customer data verification occurs without the need for access to their confidential information.
The verification process is carried out by Ankr’s trusted partner, Synaps, ensuring that only they have access to users’ personal information, as emphasized in the press release.
During the verification process, when checking specific parameters such as citizenship, the third-party receives a simple yes/no answer without disclosing any supporting data.
“Ankr Verify not only serves as a valuable tool for businesses and blockchain funds to establish verification protocols, but it also sets a new standard for user authentication in Web3, similar to single sign-on technology. With this ‘passport,’ users gain access to DeFi without the hassle of constantly uploading documents containing sensitive personal data,” said Kev Silk, senior product manager.
Several institutional clients, including Eclipse, Tomi, and Mina Protocol, have already embraced and adopted the Ankr Verify solution.
It is worth noting that Ankr recently forged a partnership agreement with the Optimism project, further solidifying its presence and influence in the industry.