Developers Forum for XinFin XDC Network

Discussion on: [Proposal] Proposals for Modifying Validator Contract Functionality

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Integrating Zero Knowledge (ZK) Proofs into KYC processes marks a significant leap in blockchain technology, refining the operations of masternode networks:

  • Preserved Privacy: ZK Proofs facilitate authentication without exposing sensitive data, upholding user confidentiality.
  • Bolstered Security: Leveraging ZK Proof Hashes ensures a secure, immutable KYC verification process, impervious to unauthorized alterations.
  • Seamless Integration: Collaborating with specialist KYC providers enables straightforward, efficient implementation.
  • Streamlined Operations: This framework eliminates complex approval processes, resulting in a more agile and consistent masternode function.
  • Technological Foresight: Adopting this cutting-edge methodology keeps pace with the dynamic evolution of blockchain technology, leading to industry advancements.
 Transitioning from traditional IPFS hash methods to ZK Proofs supplied by reputed KYC facilitators empowers us to build a more sophisticated, privacy-centered blockchain environment.

Here is Ankr Verify Solution : 

  1. A user creates a digital ID and submits their credentials.
  2. Synaps, Ankr's KYC partner, verifies them and stores them in a secure vault.
  3. Ankr Verify generates claims, corresponding the user's credentials, and binds them to the digital ID.
  4. A Web3 service/Smart-Contract asks if the user meets a certain requirement via ZK proofs.
  5. Relying on the corresponding claim, Ankr Verify sends a "yes/no" answer. No sensitive data is ever sent in this process.

For an in-depth understanding of this revolutionary process, visit the Ankr Verify documentation :