August. 2023, Volume2 Issue 7
Welcome to zCloak Network’s Monthly Update for August. Last month, zCloak sponsored some developer-related events, attended some off-line meetups, and went all out on a huge product upgrade.Besides, we have updated our brand with new tones and logos. Let’s briefly go through all of them. FYI, this series of monthly newsletters is dedicated to keeping our community members up to date, so please follow us and stay tuned for more information!
Product and Technology
zkID Card in Beta Test
This month, the zCloak team has finished and delivered the beta version of the zkID Card center. You can take a look at it here. The main components such as card shop, card maker and personal card profiles are all ready. A responsive version of the card center is also being developed. It will be integrated into the zkID Wallet to provide a mobile experience for all our users.
zkID Card features permissionless creation of W3C verifiable credential templates and the issuance, attestation and verification of these credentials. It is also deeply integrated with local ZKP computation and on-chain primitives such as NFT and zk-SBT. Possible use cases of the card center include legal identity credentials, open loyalty marketing systems, social networking and supply chain finance, etc.
zk-SBT for Conditional ERC-20 is live
As the first step of programmable money, the zCloak team has rolled out a demo for the conditional transfer of ERC-20 tokens. Basically, the success of a token transfer (or any EVM transactions) can be determined by the identity attributes of the person who initiated the transaction. We understand this is the first attempt of its kind in the Web3 industry. The demo is accessible here.
Global Hacker House Sponsorship
From August 17th to September 10th, zCloak Network sponsored and deeply participated in the Global Hacker House initiated by Antalpha Labs and co-hosted by several projects. The event will officially end in Dali. During the event, the zCloak team shared zCloak’s identity solution powered by DID and Verifiable Credentials with developers from all over the world and discussed the application scenarios in their respective subject areas. What’s more, the zCloak team successfully issued more than 40 VCs to the developers who participated in the two Hacker Houses in Shanghai and Shenzhen. zCloak also conducted a lucky draw for the participants and gave out our hardware wallets as a prize.
Meanwhile, based on AA + Onboarding, AA + RWA, Web3 + AIGC and other event themes, developers from the zCloak team put forward the idea of “DID & VC Driven Guardian — Building a Trust Network for Social Recovery”, and team members contributed as hackers to explore AA-based Web3 domain innovation products with other developers.
AWS Panel: Security and Compliance in Web3-Guardians of Digital Trust
On August 18, AWS held an offline panel themed “Security and Compliance in Web3”, zCloak presented as one of the guests. During the panel, zCloak shared our solution for Web3 security and compliance issues.
We believe that on-chain KYC will greatly help with this issue, and zCloak can provide a privacy-preserving method powered by Zero-knowledge Proof technology. Different from the traditional cumbersome KYC process, zk-KYC enables users to complete the KYC process just once and use it across various platforms and blockchains, where service providers can focus on their core business without worrying about implementing an identity verification solution and managing user data.
Privacy-Preserving Transactions, Will it Rise Again?
On August 1, zCloak Network organized an AMA with the topic of “Privacy-Presercing Transactions, Will it Rise Again?”, representatives from zCloak Network and Portal Gate presented as speakers.
During the panel, w3tester, the founder of zCloak Network, discussed a few questions about privacy-preserving transactions with Jemma, the founding contributor of Portal Gate. He mentioned that for privacy-preserving transactions, it is vital for us to have stable infrastructure in Ethereum like Tornado Cash. But we need to reduce the risk of hackers using this for money laundering etc.
Jemma also agreed with this, and she further illustrated that given the macro environment, the main regulatory environment, more and more DeFi applications will have to have some level of compliance. And Zero-Knowledge Proof technology can help solve the privacy protecting and compliance dilemma.
Redefining DeFi Accessibility and User Experience
On August 9, Tusima Network organized an AMA with the topic of “Redefining DeFi Accessibility and User Experience”, with representatives of Plena Finace, zCloak Network, AstroX Network and As Match presented as speakers.
Annabella, the CMO of zCloak Network shared the whole technical structure of the zCloak project to illustrate how the products can help with DeFi accessibility and smooth user experience. zCloak features three products, zkID Card, zkID Wallet, and Valid ID. Firstly, zkID Card operates on W3C standard DID and VC and serves as a credential issuance platform. The zkID Wallet is a product designed to help users achieve control and management of their personal data. Users can store their zkID Cards in the zkID Wallet and intuitively control how their data is being used, thereby preventing loss and leakage of personal information. Lastly, Valid ID (valid3.id) is an entity identity infrastructure, which is designed to link your entity identity to a W3C DID in a manner that is both cryptographic and legally binding.
DID & Decentralized Storage
On August 17, MemoLabs and zCloak Network co-hosted an AMA with the topic of “DID & Decentralized Storage”, representatives from CESS, Mind Network, Topia, and Soulcial presented as speakers.
During the panel, several topics were discussed. As the co-host, Cassiel from the zCloak team shared some basic knowledge of DID and Verifiable Credentials and discussed with the guests how Web3 World enables verifiable authentication to ensure that users have absolute control over their digital identity. Cassiel mentioned that powered by Zero-Knowledge Proof technology, zCloak’s identity solution can greatly ensure users’ data security.