Three Protocol, a new project is building an alternative to
centralized digital ID's and KYC with no-KYC zero-knowledge proof,
decentralized, digital ID's (ZKi3s) in online marketplaces,
announced its main features rivaling those of industry-established
brands, such as Polygon ZKP, Starknet, zkSync, and DOP. The project
aims to help users engage in secure, private digital interactions
within a fully decentralized, trustless environment.
Zero-knowledge proof (ZKP) IDs are increasingly
in demand in the emerging Web3 economy. Blockchain-based systems
can ensure better performance and security in this landscape than
the traditional Web 2.0 has to offer. Their focus on scalability,
decentralization, and privacy offers a bridge for Web 2.0 online
marketplaces toward Web3. Meanwhile, the latter's reliance on
national identification and KYC requirements affects user safety
and privacy. Moreover, imposing verification excludes many from
participating in online economic activities, especially those who
are unbanked or lack proper identification.
Three Protocol eliminates KYC
(Know-Your-Customer) or national identification requirements for
marketplace access, allowing the unbanked and debanked communities
to engage in online commerce. Signing up requires only a crypto
wallet and the implementation of Zero-Knowledge Proof
Psudoanonymised digital IDs. Therefore, a user's profile on the
blockchain is only a SHA256-hashed immutable entry on blockchain
technology.
ZKi3s are no-KYC, zero-knowledge proof
blockchain entries showing the owner's online relationship history
reputation, which forms the basis on which all Three Protocol
systems function. Individuals can mint their own ZKi3s without
providing national ID, biometric details, or passing KYC
verification.
A ZKi3 is used to send ZK-Stark proofs between a
review issuing protocol (e.g., an online marketplace) and an
issuing protocol. This can occur whenever a user desires to collect
a review or reputation score for any digital relationship or
transaction. The ZKi3 is never visible publicly on the blockchain,
ensuring the user’s transactions remain private.
Three Protocol confirmed that the algorithmic
formulae for ZKi3s will be made open source. Therefore, any digital
platform or online marketplace can integrate ZKi3s via a
permissionless process.
Three Protocol also uses a Neural Network AI
model employing cutting-edge alphanumeric AI algorithms to build a
real-time updated product, a service, and a real-world assets
interface for users. Furthermore, Three Protocol introduces the
concept of DAIOs (Decentralized Artificial Intelligence
Organizations) to implement open-source updatable AI systems and
ensure users make informed decisions when voting.
ZKP ID providers take different approaches to
the main aspects that define a ZKP ID system's performance. These
aspects include government access, privacy, KYC requirements,
open-source nature, use of ZK-STARKs, and trustlessness. Here is
how Three Protocol regards these manners and how it ranks against
other leading projects, including Polygon ZKP, Starknet, zkSync,
and Data Ownership Protocol (DOP).
Government Access
Three Protocol prioritizes the user’s control
over their data and activities. Its decentralized ZKP digital ID
technology maintains such sensitive information inaccessible to
third parties. Besides Three Protocol, only a handful of other ZKP
providers have this approach. On the other hand, projects like
Polygon ZKP, zkSync, and DOP prioritize regulatory compliance over
user autonomy and self-sovereignty.
Privacy
Three Protocol employs cutting-edge ZK-Stark
technologies to guarantee the user’s identity remains anonymous.
This feature sets this project apart from other similar
initiatives. For example, Polygon ZKP considers its system’s
scalability more important than keeping the user’s ID secret.
Meanwhile, zkSync utilizes ZK-Rollups to prevent third-party access
to user information but still requires KYC from its users. Lastly,
DOP adopts a selective transparency and regulatory compliance
policy and disregards user confidentiality.
KYC Requirements
One of the most appealing aspects of ZKP
identification is that it often doesn't require KYC verification.
Three Protocol ensures its users enjoy this benefit and keep their
sensitive information secret. Apart from Three Protocol and DOP,
only a few other projects follow the same practice. At the other
end of the spectrum, projects like Polygon ZKP, Starknet, and
zkSync require users to pass Know-Your-Customer procedures,
affecting user inclusivity and privacy.
Open Source Code
Three Protocol is among the industry's top ZKP
DID providers, along with Polygon ZKP, Starknet, and zkSync,
maintaining an open source code. This feature allows the project's
growing community to contribute and scrutinize its development,
thus enhancing its trustworthiness.
ZK-STARKs (Zero Knowledge Scalable
Transparent Argument of Knowledge)
Three Protocol utilizes ZK-STARKs to provide
security against privacy threats and enhance performance levels
without affecting decentralization. Only a few other projects
follow this practice, e.g., Starknet. However, more prominent
brands, like Polygon ZKP, zkSync, and DOP, do not consider
ZK-STARKs a priority.
Trustless
Three Protocol uses tri-signature smart
contracts and DAO governance to ensure a fully decentralized and
trustless experience. Moreover, it provides unbiased dispute
resolution and self-custody, setting an industry standard with this
approach, which only a few other brands, such as Starknet and
zkSync, also follow.
About Three Protocol
Three Protocol is Tectum Labs's first incubated
project. Its mission is to modify the current paradigms of online
marketplaces through decentralization and create financial
inclusivity for individuals without access to traditional banking
services.
The project uses the Three Protocol Neural
Network AI model to create marketplaces that increase the
efficiency and accuracy of searching for products, services,
real-world assets, and clients based on personalized user
queries.
Three Protocol integrates cryptocurrency utility
to broaden the purchasing power and utility of cryptocurrency
holders. Its implementation of an AI-driven DAO should also help
increase equity and fairness in the user-online marketplace
relationship.
Lastly, Three Protocol uses a unique blend of
privacy, self-custody, and decentralized governance that sets it
apart from other ZKP ID providers. Its services cater to users and
developers who value anonymity, trustlessness, and
decentralization.
Follow the project for the latest development
updates at these links: Website | X
(Twitter) | Telegram | LinkedIn |
Sean Munn
sean(at)threeprotocol.ai