1. What is Humanode?
Humanode is the first human-powered crypto-biometric network, where 1 human = 1 node = 1 vote.
Humanode is a new-age decentralized crypto-biometric network that integrates pioneering cryptography with private biometrics and blockchain technology. The project aims to create a strong and sustainable decentralized system that is grounded on the existence of unique human beings.
The Humanode project was conceived by the co-founders of Paradigm research institute in 2017. They were one of the many who were optimistic about the Web 3 potential but, at the same time, were stumped by the fact that mining cartels and validator oligopolies seemed to dominate the crypto market. By using human biometrics as the stake, the founders of Humanode saw the possibility of creating a truly decentralized network of equals.
Humanode enables a range of new use cases while solving problems with existing ones.
With Humanode enabling the pseudonymous biometric DIDs tied to various online services, many spheres stand to benefit from such as insurance, financial services that involve credit score, trading, marketplaces, yield farming and many others including airdrops, healthcare, metaverse authentication and nonfungible token (NFT) ownership.
2. What problems does Humanode solve?
Humanode brings decentralization, Sybil resistance and innovative governance models to the blockchain industry using biometric technology.
In its very foundations, the Humanode project aims to bring accessibility, inclusivity and innovation in the tech and crypto spaces and economics as a whole. The project is an alternative to the majority of blockchain networks that are based on consensus algorithms such as proof-of-work (PoW) and proof-of-stake (PoS) that currently dominate the field.
It is known that PoW and PoS are decentralized technologically but not power-wise, granting voting rights and rewards in proportion to users’ economic investments in an activity or resource, stake or computational power, leading to capital-based oligopolies and mining pools.
In contrast to PoW and PoS, Humanode utilizes facial recognition biometrics with the combination of proof-of-uniqueness and proof-of-existence — efficient tools capable of creating a decentralized protocol to counter malicious attacks on online platforms. The most spread attacks on peer-to-peer networks are Sybil attacks with the utilization of multiple fake virtual identities or, in the case of cryptocurrencies, nodes.
The Humanode system is designed to check and ensure that every person in the network is unique and has a singular identity. Human nodes are created through crypto-biometric authentication which is a combination of cryptographically secure matching and liveness detection mechanisms verifying the uniqueness and existence of real human beings.
Bringing equality and Sybil resistance to the system, Humanode design guarantees every individual the same amount of voting power and rewards, creating a democratic and fair peer-to-peer structure.
Continue reading: https://cointelegraph.com/explained/what-is-humanode-human-powered-blockchain
Humanode is the first human-powered crypto-biometric network, where 1 human = 1 node = 1 vote.
Humanode is a new-age decentralized crypto-biometric network that integrates pioneering cryptography with private biometrics and blockchain technology. The project aims to create a strong and sustainable decentralized system that is grounded on the existence of unique human beings.
The Humanode project was conceived by the co-founders of Paradigm research institute in 2017. They were one of the many who were optimistic about the Web 3 potential but, at the same time, were stumped by the fact that mining cartels and validator oligopolies seemed to dominate the crypto market. By using human biometrics as the stake, the founders of Humanode saw the possibility of creating a truly decentralized network of equals.
Humanode enables a range of new use cases while solving problems with existing ones.
With Humanode enabling the pseudonymous biometric DIDs tied to various online services, many spheres stand to benefit from such as insurance, financial services that involve credit score, trading, marketplaces, yield farming and many others including airdrops, healthcare, metaverse authentication and nonfungible token (NFT) ownership.
2. What problems does Humanode solve?
Humanode brings decentralization, Sybil resistance and innovative governance models to the blockchain industry using biometric technology.
In its very foundations, the Humanode project aims to bring accessibility, inclusivity and innovation in the tech and crypto spaces and economics as a whole. The project is an alternative to the majority of blockchain networks that are based on consensus algorithms such as proof-of-work (PoW) and proof-of-stake (PoS) that currently dominate the field.
It is known that PoW and PoS are decentralized technologically but not power-wise, granting voting rights and rewards in proportion to users’ economic investments in an activity or resource, stake or computational power, leading to capital-based oligopolies and mining pools.
In contrast to PoW and PoS, Humanode utilizes facial recognition biometrics with the combination of proof-of-uniqueness and proof-of-existence — efficient tools capable of creating a decentralized protocol to counter malicious attacks on online platforms. The most spread attacks on peer-to-peer networks are Sybil attacks with the utilization of multiple fake virtual identities or, in the case of cryptocurrencies, nodes.
The Humanode system is designed to check and ensure that every person in the network is unique and has a singular identity. Human nodes are created through crypto-biometric authentication which is a combination of cryptographically secure matching and liveness detection mechanisms verifying the uniqueness and existence of real human beings.
Bringing equality and Sybil resistance to the system, Humanode design guarantees every individual the same amount of voting power and rewards, creating a democratic and fair peer-to-peer structure.
Continue reading: https://cointelegraph.com/explained/what-is-humanode-human-powered-blockchain
