Polygon-backed Humanity Protocol’s testnet launch attracts 25,000 sign-ups in first 24 hours
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Key Takeaways Humanity Protocol’s testnet attracted 25,000 users within the first 24 hours. The high number of registrations indicates a need for privacy-focused decentralized identity solutions. Humanity Protocol, a zero-knowledge decentralized identity project backed by Polygon Labs and Animoca Brands, announced today that its testnet launch successfully attracted 25,000 registrations in the first 24 hours. Discussing the milestone, Terence Kwok, CEO and Founder of Humanity Protocol, said the project is on track to achieve its goals. He believes that community support shows the need for a more secure and user-friendly identity verification solution. “Our community’s overwhelming response reaffirms the demand we’re seeing for a more secure and user-friendly way to verify identity without sacrificing personal data in an increasingly digital world,” Kwok said. “We’re excited to see users take ownership of their identities in a way that prioritizes privacy, security, and control. This is only the beginning, and we’re committed to continually enhancing our platform to meet the growing needs of our users,” he added. The protocol, recently valued at $1 billion after securing $30 million in a seed round led by Kingsway Capital, aims to offer secure, user-centric identity verification using non-invasive biometrics with advanced Proof of Humanity technology. Humanity Protocol adopts zero-knowledge proofs to facilitate private and scalable identity verification. Its goal is to mitigate the risks associated with centralized data storage, Kwok said in an interview with Crypto Briefing. Following the first phase, the Human ID Reservation, the team is now gearing toward the next two phases: Palm Pre-enrollment via Mobile App and Full Enrollment via Palm Vein Verification. The second phase is scheduled for mid-October, the team noted. Humanity Protocol also rewards early adopters with a portion of the testnet tokens generated by their referrals as part of its commitment to fostering a community-driven approach. “Humanity…
Filed under: News - @ October 2, 2024 4:23 pm