Humanity Protocol has officially reached unicorn status after securing $30 million in a funding round led by Kingsway Capital. This significant milestone elevates the blockchain-based identity solution provider's valuation to $1 billion. With participation from major industry players like Animoca Brands and Blockchain.com, this round marks a crucial phase in Humanity Protocol’s growth.
The funds are earmarked for expanding the product development team as the project gears up for its public testnet launch slated for the latter half of 2024. Humanity Protocol introduces a pioneering approach to secure digital identities using palm scanning technology integrated with zero-knowledge proofs and a "proof-of-humanity" consensus mechanism. This method aims to offer a privacy-centric alternative to other biometric solutions, distinguishing it from competitors like Worldcoin.
The company has already attracted over half a million people to its waitlist since its emergence from stealth mode, signaling strong market interest. This development underscores a growing trend of integrating advanced technology to enhance security and user privacy in digital interactions.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
