zkPass is a security sector project that provides privacy from unauthorized tracking and data collections, allowing the safe identity verification of users. They trade identity in a Web3 environment.
What is zkPass?
zkPass is a security project in the privacy segment that guarantees the identity of users with safe verification while protecting against unauthorized tracking and data collection, hence guarding against privacy of the user in a Web3 environment.
As one representative example, some sites will require that users “prove” something about an age. With zkPass, you would mint an authentication token and supply it to the website without either the website or the zkPass project learning anything about you.
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Products of zkPass
- zkKYC: A solution that allows Web3 businesses to verify user identities without disclosing sensitive information.
- zkSBT: Evidence of user engagement in specific identity authentication activities.
zkPass products are applied in various fields such as:
- DeFi: Identity verification for borrowing, transactions, and safe access to DeFi services.
- DAO: Member management, voting, participation in DAO activities in a transparent and secure way.
- NFT: Verify ownership and do safe trades of NFTs.
- Social Networks: Build up profiles and interact without ever giving away sensitive information.
- E-commerce: Confirm identity for safe online shopping and reduction of fraud cases.
- Education: Verify identities for degrees, certificates, and access to online educations.Health: Keep medical records and share medical information safely and securely. Never sell or share personal data with a third party without the user’s consent.
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Fundraising And Backer
On the 3rd of August 2023, zkPass announced structure closure for a seed round worth $2.5 million with leading investors like Binance Labs, Sequoia China, and OKX Ventures. Prior to that, zkPass was also invested in by Binance Labs as a part of the Incubation Program Season 5.
Team
- Bing Jiang, Co-founder and CTO—CTO of zkPass, also co-founded Aves Lair, an AI and blockchain investment fund.
- Joshua Peng: Co-founder and CSO: Strategy Director at zkPass. He did his Ph.D. in Computing from the University of Missouri. None of Jiang and Peng have shown their real photos.
Tokenomics
So far, the project has not released any token and is in a program whereby one has to bring certificates for the redemption of the zkp credit points.
Roadmap
It is expected that the platform will deploy v1 in Q1-Q2/2024.
zkPass Airdrop Guide: Step By Step
Step 1: Prepare Your Metamask Wallet
Ensure your Metamask wallet has approximately $10 of Arbitrum network ETH for fees. If you don’t have ETH on Arbitrum, you can withdraw it from exchanges like Binance, OKX, or Bybit with a withdrawal fee of about $0.20 to $0.30.
Step 2: Select Certificates to Mint
You will be able to mint your certificates directly on the project’s website by connecting your wallet. For example proof, you should be able to prove ownership in various types of accounts — it could be Binance, OKX, or social media accounts like Twitter (X), Facebook, or Instagram. The final amount of ZKP credit will be dependent on the type of accounts that are eligible and according to the specific criteria for that account.
For advanced crypto users, start by any credentials that demonstrate ownership to a CEX account (such as Binance, Bybit, OKX), then proceed to the social media accounts, and other secondary criteria
Note: the project will not access or “steal” any information that you provide. All data is encrypted using zero-knowledge technology.
Step 3: Mint the Certificates
Example: To verify a Discord account, click “Attest Now.” Wait for the software to run and, when it completes, return to the homepage to sign the confirmation in your wallet. Done.
You can set some decent criteria to mint. The mint fee on the Arbitrum network is $0.20 every time. So, the fees will be around $10 to complete all the criteria. Do as many as verification tasks as possible for the fact that maximum points of ZKP credit take an opportunity to convert them into tokens during the time of the project launch.
Conclusion
With the increasingly severe leakage of private data, the demand for advanced technological security solutions will increase. Therefore, market attention will shift to the projects, such as zkPass.
CoinCu see great potential in zkPass, particularly because it hasn’t launched tokens yet, this would be an excellent opportunity for us to get some juicy airdrop opportunities from zkPass.
FAQs
How does zkPass protect user privacy in the course of the KYC process?
zkPass deploys zero-knowledge proofs, which enable users to prove an identity without giving away sensitive information—a cryptographic technique that protects sensitive information from exposure in the process of verification.
Why is decentralized KYC important in Web3 contexts?
Designed under the principles of Web3, decentralized KYC enables customer sovereignty, minimum dependence on central authorities, improved safety, and privacy; hence, users remain in control of their data, minimizing the risk of centralized data breaches.
What are the major advantages of using zkPass for identification?
This offers advantages in terms of better security, preservation of privacy, compliance with regulatory provisions, and establishment of trust between the user and the service provider. zkPass makes sure that users’ private data is protected while simultaneously providing a secure verification process.
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