zCloak Network Bi-Weekly Update #1
During the last few weeks, zCloak Network has made several exciting achievements both in product and marketing.
We completed the Pre-A round fundraising of $5.8 million. Along with the support of the GalaxyTown treasure hunt game, our community has reached 35K+ members on Twitter and Discord as the ecosystem grows. We held our first community call on the Discord channel and we were so excited to have had 2k+ members join us. zCloak Network also announced a partnership with LegalDAO to provide privacy-preserving identity services to lawyers.
Some exciting breakthroughs in the product have been achieved as well. We launched zCloak ID Wallet and zkID.app as a guide to demonstrate the ability of Verifiable Credential + ZKP technology — zCloak ID Wallet stores the user’s credential and then performs zk-computation locally to generate a corresponding zk-proof. There are over 20k+ downloads of the demo product already.
Here is a brief introduction to our recent achievements.
zCloak Network’s Pre-A round fundraising closed at $5.8 million
On June 17th, 2022, zCloak Network announced the completion of a $5.8 million Pre-A round by Coinbase Ventures, Bixin Ventures, Matrixport Ventures, DFG, Sancus Ventures, KuCoin Ventures, Sanctor Capital, Hash Global, and Jump Capital. It was published on The Block, Foresight News, PANews, Tech Flow, etc., and our official Twitter and Discord.
The funds raised will be used to expand zCloak Network’s partnerships with Identity Data Verification Institutions, Web3 applications, and other blockchain networks.
zCloak Network Partners with LegalDAO to Provide Privacy-preserving Identity Service to Lawyers
On June 24, 2022, we announced our partnership with LegalDao.
The collaboration will focus on decentralized identity, credential attestation, data privacy protection, etc.
By collaborating with zCloak Network, LegalDAO will have a solution to some of the most important concerns that came up during their building of the DAO, mainly regarding identity verification, conveying trustworthiness, and privacy protection.
Both zCloak Network and LegalDAO are bringing Web3.0 solutions to projects and users, and we believe our collaboration will drive higher trust within the Web3.0 world.
zkID.app Guide — Claim your first ZKP Identity Credential and POAP
zkID.app is the first product of zCloak Network for privacy-preserving self-sovereign identity.
It enables local computation on user identity data in a browser extension. Powered by novel cryptography primitive, zk-STARK, Zero-Knowledge Proof is generated to ensure the integrity of user computation and to hide user input data. As such, users can prove their identity attributes to any entity, for instance, a smart contract without exposing their real-life data to any 3rd party.
On June 22nd, we launched zkID.app as a guide to demonstrate the ability of Verifiable Credentials combined with ZKP technology. We are launching this event with Project Galaxy which enables participated users to claim an exclusive zCloak-Galaxy OAT NFT.
Users go through zkID.app Guide will receive an attested credential that was generated for their game character, and this credential could be used to generate a zk-proof in zCloak ID Wallet which will be registered onto the chain.
A POAP NFT, as a commemoration of successfully going through the guide, will be airdropped to your MetaMask wallet address based on the details of your credential, which corresponds to the anonymous on-chain label of a zk-proof that is verified and distributed by the zCloak Keeper Network.
One of the interesting parts is, as zkID.app Guide has revealed to us, that you never show the data of your credential to the NFT minting smart contract. Instead, you send a zk-proof to it which proves that you meet certain requirements. This is what we mean by saying “Prove who you are without telling who you are.”
zCloak also held a Community Call AMA for the first time. We were so excited to have 2300+ community members join and participate, through which we connected with our community and updated zCloak’s latest news. We were happy to see community members as passionate as us in the field of Privacy in the Web3 world.
We plan to hold community calls regularly with a frequency of one to two times each month. In future AMAs, we are also looking to create themes and include guests from different fields in Web3. We would want the community to stay close and updated, and we are always open to answering questions and having in-depth discussions with our members.
Community Call #2 is coming up next week.
We are committed to protecting users’ privacy in Web3. We are happy to welcome you to our official Discord and Twitter servers to be actively involved in the development and building of the zCloak ecosystem and keep making contributions to data privacy protection in Web3.
Thanks for reading!