[PRESS RELEASE – Singapore, Singapore, 15th November 2022]
After emerging from the Oraichain for DApps Accelerator Program, self-sovereign digital identity platform Ziden has joined the AI Layer 1 blockchain ecosystem of Oraichain. Ziden has also revealed an outline of a roadmap culminating in its public launch in January 2023.
Ziden is a self-sovereign identity platform that uses zero-knowledge proofs to provide a verifiable attestation of sensitive information while maintaining user privacy. At its core, Ziden’s zero-knowledge protocol can help users attest to their identity without them having to disclose sensitive information to any entity other than authorized ones. The proof that proves the validity of a user’s identity carries no private information and is stored on a blockchain for DApps to approve without knowing any of the underlying information, hence the name ‘zero-knowledge.’
A Medium article detailing Ziden joining the Oraichain ecosystem gives a practical example. The first use case of Ziden is Oraichain Labs US, a Fintech startup looking to tokenize real-world assets, such as real estate. In a typical real estate transaction, buyers and sellers must disclose sensitive personal details like their social security number. Ziden enables attestation of attributes — like nationality, for example — without revealing any additional user information.
Ziden is the third project to emerge from the Oraichain for DApps Accelerator Program. Other projects from the program include capital markets disruptor Oraichain Labs US (OLUS) and the decentralized lending platform Orchai.
Now part of the Oraichain ecosystem, Ziden has access to Eueno, the ecosystem’s decentralized data storage, encryption and sharing protocol; its AI Marketplace; and Oraichain Mainnet’s ZK engine. Meanwhile, the DApps Accelerator Program gives Ziden exclusive access to Oraichain Labs’ network of DApps and partners, enabling this identity platform to discover various unique use cases within the Web3 industry in general.
Ziden has also revealed its end of 2022 and early 2023 roadmap. The project plans to release its whitepaper and a public demo on the Oraichain Testnet later this month. In December, Ziden will launch its ID solution with Oraichain Labs US on the Oraichain subnet, Oraichain Pro. By January 2023, the platform expects to be ready for its official public launch.
Oraichain is the world’s first artificial intelligence-powered blockchain ecosystem and oracle. The network’s Mainnet 1.0 release was in February 2021, and the following March, Oraichain Mainnet 2.0 launched. Based on Cosmos SDK and Tendermint Core, Oraichain provides cross-chain functionality while maintaining the highest security and transaction processing speeds. Its support of Cosmos’ IBC (Inter-Blockchain Communication) protocol enables connectivity with Ethereum, BSC and other major networks.
Ziden is a project aiming to build a self-sovereign digital identity platform that leverages zero-knowledge proofs to return control over user data to the users themselves. The platform will enable users to attest to some piece of sensitive information without giving more data away than is strictly necessary. Ziden has a myriad of applications across Web2 and Web3, including KYC attestation, digital certificates and Web3 identity services.