What is zkPass? A security project backed by Binance Labs

1. zkPass overview

1.1. What is zkPass?

zkPass is a privacy-focused development project aimed at protecting user privacy rights.

Functioning not just as a tool for private data verification, zkPass serves as the infrastructure for a decentralized society. zkPass enables users to selectively share their verifiable private data with third parties without revealing sensitive information by leveraging MPC (Multi-Party Computation) and ZKP (Zero-Knowledge Proof) technologies.

zkPass has formed collaborations with notable entities such as Linea, zkSync, CyberConnect, LayerZero, zk.link, highlighting its commitment to advancing privacy solutions.

1.2. zkPass Solution

The project presents TransGate as a solution, allowing users to verify private data on any HTTPS website within Web3.

The data encompasses various types such as legal identity, financial records, healthcare details, social interactions, work experience, educational qualifications, skill certifications and more.

2. Key feature of zkPass

2.1. Privacy protection and Anti-fraud capability

The preservation of data privacy within zkPass is accomplished through the utilization of Multi-Party Computation (MPC) and Zero-Knowledge Proof (ZKP) techniques. This implies that users can demonstrate verifiable proofs without the necessity of uploading any documents through the zkPass platform. Furthermore, zkPass plays an important role in combating malicious activities, including instances of identity theft and data falsification.

2.2. Compatibility

The zkPass protocol seamlessly integrates with every HTTPS website without the need for APIs or licenses.

2.3. Verification capability

This feature allows users to verify the origin, authenticity, integrity, and validity of private data.

2.4. High-performance memory

IZK, based on VOLE, efficiently generates ZKP in just milliseconds within the browser environment.

3. zkPass use cases

zkPass can be seamlessly integrated into various use cases, including:

Online identity verification: zkPass allows users to verify their online identity conveniently, ensuring privacy by avoiding the disclosure of personal information. This functionality aids in preventing identity theft and upholding privacy standards.
Social applications: zkPass empowers users to validate anonymous age, personal details, and profile authenticity without revealing sensitive information. Through the utilization of zkSBT, users can selectively reveal tokenized attributes, enabling specified individuals with zkSBT credentials to send private messages. This feature serves as a deterrent against fraudulent message proliferation.
Decentralized finance (DeFi): zkPass can be applied to authenticate identity and verification information in DeFi. This ensures that only authorized entities have access to sensitive financial data, bolstering security measures.
Job applications: zkPass can verify the qualifications, educational background, and experience of job applicants without revealing personal information.
Online marketplace: zkPass can be utilized to verify the authenticity of sellers and buyers or publishers and subscribers on online marketplaces, aiming to prevent fraud.

3. Tokenomics

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4. Team

The foundational team of zkPass consists of seasoned professionals with substantial expertise in blockchain, cryptocurrency, and marketing.

Bing Jiang - CTO: Formerly serving as a developer and Vice President of Technology at NTT DoCoMo in Japan, he was responsible for mobile development.
Joshua Peng - CSO: Entrusted with devising strategies for platform development, Joshua Peng previously pursued academic endeavors at the University of Missouri in the United States.

5. Investors & Partners

5.1. Investors

zkPass has garnered a funding amount of $2.5 million from a range of investment funds. The Seed round saw participation from notable funds such as Binance Labs, Sequoia China, OKX Ventures, dao5, SIG DT Investments, Cypher Capital, Leland Ventures, and Blockchain Founders Fund.

5.2. Partners

6. Roadmap

The inception of the project took place in the year 2022, and its current roadmap extends only until Q1-Q2 of 2024. zkPass is scheduled to initiate Protocol V1 in this phase.

7. Conclusion

In an era where the importance of privacy data is escalating, there is a growing demand for privacy-centric solutions. Projects dedicated to security development are expected to experience favorable outcomes, especially those backed by significant supporters, such as zkPass, which may enjoy a competitive edge.

This article has presented insights into zkPass, with the aim of providing you with valuable information. Should you have any inquiries, please feel free to pose questions within the BigcoinVietnam community for further clarification.

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