Valid ID is an innovative identity platform developed by zCloak Network. It is designed to link your entity identity to a W3C DID in a manner that is both cryptographic and legally binding. This platform is powered by identity attestation from multiple parties, ensuring a robust and reliable identity verification process.
The entity profile on Valid ID is controlled by your private key, providing you with complete control over your identity. Additionally, you can add more keys and roles under your entity profile, creating a tree of trust for your project or organization.
With Valid ID, you can become a self-sovereign project and maintain control of your entity's identity. You can sign all your messages, documents, and other communications using cryptographic keys, allowing anyone to independently verify their validity. This platform also allows you to establish connections within and outside of your project, creating a tree of trust for your project by adding more keys and roles for enriched actions entity profile.
Valid ID provides an anti-counterfeiting channel for public announcements in case of hacks. The Valid Sign function, protected by digital signatures, effectively reduces economic loss for projects and users. It also helps prevent detrimental negative impact in times of security breaches by notifying users in time and safeguarding their interest, thereby preserving the entity's reputation and trustworthiness.
Valid ID can drive user growth by bringing diversified communities in Web3 together, creating an organic growth entrance for projects. The platform's extensible operation system enables the development of functions and gadgets, enabling richer use cases and driving utility growth. Additionally, a high Valid Score, based on a multi-standard measure, can lead to reputation and business growth for entities.
Valid ID is a decentralized platform that uses multi-party attestation instead of a trusted central party for identity verification. The identity on this platform is controlled by cryptographic keys which only the owner controls, ensuring a self-sovereign identity. All attestations are transparent, verifiable, tamper-proof, and permanent, done with verifiable credentials. The platform's Nostr-like event operation system makes it easy to extend for more functions.
Valid ID allows users to issue Verifiable Credentials and generate attestation results to be used in various use cases such as DeFi, gaming, and social interactions. The platform also includes the Valid Sign function, which allows users to publish announcements and news releases with verifiable digital signatures to prevent fraud. Users can also manage sub-keys and roles under the root key for structured organization management in a cryptographic mechanism.
The future of the Valid ID platform is promising and includes several key developments and implementations.
Unlike other naming systems, the Valid Name feature of the Valid ID platform reflects the entity's legal identity. This feature links domain names directly to organizations' legal names, providing a more accurate representation of the entity's identity.
The Valid Score is a multi-standard compatible measure of an entity's trustworthiness. This feature provides a quantitative evaluation of social attestation results between organizations, allowing entities to build and demonstrate their reputation in a measurable way.