Polygon Launches Web3 Identification Service

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Today’s Cryptocurrency Headline

Polygon has released a Web3 identity service called Polygon ID that will allow blockchain-based applications to verify user credentials without compromising personal information. The product can verify user data for blockchain applications while maintaining on-chain privacy; it uses zero-knowledge proofs, which can authenticate data while keeping it encrypted and hidden from the verifying party. The product can be used for KYC, e-commerce onboarding, passwordless login, etc. Core developers at Polygon Labs have integrated Polygon ID technology into the Polygon zkEVM, which is expected to launch later this month.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is up 0.85% over the last 24 hours and rose to an intraday high of $24,000.00. The largest cryptocurrency continues to trade in a tight range between $23,200 to $24,000 today, indicating indecision among buyers and sellers. Currently, the 50-day moving average, located around $23K, has been acting as a solid support in the past few days. If the 50-day moving average gets broken to the downside, the price could find support at around $21,500. On the other hand, If the BTC/USDT pair maintain above the 20-day exponential moving average, the bulls will attempt to push the price above $24,000.

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