Virtual accounts and bots: Many platforms have been subjected to a large number of fake traffic, script accounts, and bots, which pose great risks to project operations. For example, in Web3 airdrops, a large number of spam accounts obtain tokens and sell them, affecting the progress and image of the project;
Data and privacy: Due to the centralized storage of traditional identity verification information, there have been multiple major data breach incidents in recent years, making it difficult to protect user privacy;
Low verification efficiency and poor user experience: The traditional identity verification process is cumbersome and complex, time-consuming and labor-intensive, especially in the Web3 ecosystem where many projects still use traditional methods to verify identities, becoming a bottleneck for development;
Lack of cross-platform interoperability: Most digital identity systems are isolated, with different systems used by different platforms, requiring users to repeatedly verify their identities, wasting time and increasing the complexity of information management!
Facing these challenges, the market urgently needs a more efficient, secure, and decentralized identity verification solution. The emergence of the Humanity Protocol is precisely to address these issues and provide a breakthrough solution for the future of Web3. Through its unique non-invasive palm print scanning technology, zero-knowledge proof, and decentralized mechanism, the Humanity Protocol is building a new digital identity model that combines privacy protection and operational convenience for users and enterprises.
I. Financing and user growth: Creating a new era of identity verification
In May 2024, Humanity completed a seed funding round led by Kingsway Capital, raising $30 million and achieving a post-investment valuation of $1 billion. Within just a few months, Humanity has quickly attracted the attention of global investors with its innovative technology and strong execution capabilities, and has recently completed a strategic financing round, further consolidating its position in the digital identity field.
The Humanity testnet has already been launched, and users can earn RWT rewards by participating in the testnet! Its token H is expected to be officially launched in Q1 2025, and it is recommended that everyone participate in the testnet activities to experience the new project and earn some rewards! Within just two months of the testnet launch, Humanity has achieved remarkable results: 2 million Human ID accounts have been successfully registered, demonstrating its rapidly expanding user base. In addition, community building has also been extremely rapid, with over 100,000 Twitter followers and 300,000 Discord users, forming a highly engaged global community ecosystem.
II. Technical highlights: Breaking the ceiling of identity verification
2.1. Real verification: Eliminating the threat of fake accounts and bots
Humanity uses palm print scanning technology for identity verification, which is not only efficient and simple, but also completely eliminates the problem of fake accounts and bots. Compared to traditional verification methods such as captchas and email verification, palm print verification is almost impossible to forge, ensuring the authenticity of user identities.
2.2. Privacy protection: Zero-knowledge proof (ZKP)
In an era where data privacy is a major concern, the Humanity Protocol adopts zero-knowledge proof technology (ZKP), allowing users to complete identity verification without disclosing any sensitive information. This not only protects user privacy, but also aligns with the trend of future privacy compliance.
2.3. Widespread application: Building the largest identity graph for Web3
A "Human ID" can be used across all decentralized applications (dApps), protocols, and the Web3 ecosystem, from KYC on financial platforms to identity binding in virtual social and educational sectors, Humanity can provide seamless support for the user experience of both Web3 and Web2.
2.4. Decentralized trust: Reshaping fairness and transparency
Through a decentralized identity verification mechanism, the Humanity Protocol ensures fairness and transparency within its ecosystem. This mechanism not only prevents power concentration, but also builds a trustworthy Web3 ecosystem.
III. Competitive analysis: Differentiated advantages over Worldcoin
In the field of Web3 identity verification, Worldcoin is another well-known project, known for its iris scanning technology. However, compared to Worldcoin, the Humanity Protocol has shown more significant advantages.
Worldcoin's iris scanning technology has so far been unacceptable to many people, and there are also more privacy controversies; coupled with the need to use specific devices and complex operations, it raises the operational threshold and lacks universality!
Humanity can use smartphones to perform non-invasive palm print recognition to complete identity verification, and provide a high degree of privacy protection for users through zero-knowledge proof, effectively avoiding the user acceptance and privacy issues faced by Worldcoin. At the same time, its simple and easy-to-use process greatly reduces the threshold of identity verification, making it more suitable for large-scale promotion and adoption, thus enabling rapid user growth.
IV. Future outlook: Building a new cornerstone for Web3 identity verification
The goal of the Humanity Protocol is to become the largest decentralized identity verification platform in the Web3 field. As palm print scanning devices are shipped globally, the future application scenarios will become more extensive - from financial KYC to access control verification, and to identity binding in the virtual world, Humanity is building the largest identity graph for the Web3 ecosystem.
At the same time, the decentralized trust mechanism of the Humanity Protocol not only enhances the transparency and fairness of identity verification, but also promotes the further development of the Web3 ecosystem. Through the parallel implementation of technological innovation and privacy protection, Humanity is expected to occupy a leading position in the future digital identity market.
V. Conclusion
In the Web3 era, the core of identity verification is no longer just technical implementation, but the perfect balance of user privacy, authenticity, and universality. The Humanity Protocol, through palm print recognition technology and zero-knowledge proof, not only solves the threat of fake accounts and bots, but also provides users with comprehensive privacy protection and a convenient experience. Compared to Worldcoin, Humanity has performed excellently in terms of technology, privacy, and user growth, demonstrating strong market competitiveness.
It can be foreseen that as the Web3 ecosystem continues to mature, the Humanity Protocol will continue to deepen its technological innovation and become an important force in driving the revolution of decentralized identity verification.
