If you’re familiar with the blockchain ecosystem, the term “decentralized financial networks” is likely not new to you. Recently, the blockchain world appears to be rat-chasing to build new decentralized financial networks. Numerous alternative protocol prototypes have been implementedin the past few decades in an effort to build a decentralized financial system. However, they are unable to displace the plutocratic systems of governance that originate from the underlying ideas of Proof-of-Work (PoW) and Proof-of-Stake (PoS).
Decentralized ledger technology (DLT) applications have multiplied dramatically since the introduction of blockchain technology. While decentralized value exchange has changed thanks to initiatives like Bitcoin and Ethereum, each of their underlying basic technologies has pros and cons.
You are about to learn about one big blockchain project which has set itself out as a worthy alternative to modern decentralized financial networks — the Humanode network!
Humanode is a network protected by cryptographically secure bio-authorized nodes. Should be pretty obvious how its name came about then, right?
The Humanode blockchain project is the first in the world to implement a consensus method based on crypto biometric identification in order to achieve their vision of one human equal one node equals one vote in order to effectively address a number of difficulties with crypto economics and governance. In close collaboration with Facetec, Humanode has created a layer one protocol that offers robust Sybil resilience with very precise private biometric algorithms.
On Humanode, users will be able to deploy nodes by staking their encrypted biometric data. With algorithm-based emission processes that seek real value increase and proportional emission, this strategy may eventually result in the development of a public, decentralized financial network that relies on agreements between equal human nodes.
By combining different technical frameworks, the Humanode network is able to create a decentralized, secure, robust, effective, reliable, unalterable, and stable financial network. This project is unique in many ways and different from the conventional decentralized networks blockchain users are used to. Humanode Network promises its users great value and is committed to fulfilling that promise by offering seamless service.
Technologies That Make Up The Humanode Network
As explicitly stated in the Humanode Network official paper, Humanode comprises different frameworks that make it unique and more preferred.
Humanode plans to integrate a bio-authorization module based on cryptographically secure neural networks for the private classification of 3D templates of users’ faces. They also intend to develop a private Liveness detection mechanism for the identification of real human beings. A substrate module will be used as a blockchain layer and users can be guaranteed a transparent cost-based fee system.
Humanode intends to get users involved in its decision-making. This is to better develop features that serve their community best. To achieve this, the Humanode team has created a Vortex decentralized autonomous organization (DAO) governing system. One of Humanode’s core integrations is its monetary policy and algorithm called Fath. With Fath, Humanode is able to achieve a system where monetary supply reacts to real value growth. Also, this one-of-a-kind project ensures that emission is proportional.
The intricacies of each of the applied technologies stated above are essential for maintaining the network’s integrity. The Humanode core recognizes the value of internal multimodal biometric processing techniques and liveness detection. When effectively implemented, these integrations will significantly boost resistance to Sybil attacks and solve the problems with contemporary biometric authentication and identification systems.
In a nutshell, Humanode’s major objective is to establish a trustworthy and equitable financial system that depends on the existence of human life.
Humanode’s Long-term Goals And Objectives
The Humanode Network is committed to giving value to its users long-term and has developed long-term goals to enable it to best serve its community and by extension the blockchain community. Its long-term goals include:
- Developing a decentralized pseudonymous biometric identity-based system that is Sybil-resistant.
- Constructing a Substrate mechanism that is secure, scalable, effective, consistent, immutable, and long-lasting
- Ensuring the establishment, growth, and emergence of a solid and committed community of human nodes.
- Customized high-throughput, low-latency Protocol for Sybil-resistant consensus 5. Creating a technique for processing biometric data while protecting privacy as well as sharing encrypted biometric templates that are checked for liveness using ZK. 6. Making native Humanode programs like wallets and ensuring EVM’s compliance with the Substrate palette.
- Creating the Humanode token (HMND) with Fath monetary system, equal fee distribution, and proportional emission distribution on the Humanode network. 8. Building Vortex, a DAO that regulates the existence of the Humanode network through voting, and creating a proposal system that pulls trending proposals to vote in Vortex.
- Building a feature called Formation, that distributes grants across approved proposers and helps them to assemble a team to develop Humanode solutions.
- Developing a public Humanode knowledge base that stores all the information, research and analytics carried out by teams assembled in Formation. It will also act as a base for educational sessions and programs carried out in Humanode.
- Giving users the ability to deploy Fath-based monetary systems and deploy their own tokens on Humanode with different monetary policies and systems.
- Building Humanode development framework with modular solutions, Judicial system framework, and BCIs for liveness detection.
- Creating neurosignatures for signing on-chain transactions.
- Implementing internal modalities-based biometrics (neurosignatures, DNA matching) 15. Integrating real-time proof-of-human-existence, biometric-based Autonomous Intelligent Agent, and ZK off-chain commitment-based smart contracts.
Meet the Brains Behind Humanode
The Humanode Network’s official token is $HMND. The $HMND token is built based on the Fath monetary system which allows equal fee distribution, and proportional emission distribution on the Humanode network. $HMND has a total supply of $400,000,000. The Humanode team held its seed round in early 2022 and raised $ 2 million.
- 5% of the tokens were raised in the angel round with good distribution; ● 10% of HMND tokens were sold during the seed round;
- 10% of HMND tokens were reserved for the strategic round;
- 15% HMND tokens will be up for sale during the public sales on Tokensoft. There will be 3 different waves of public sales;
- 11% of HMND tokens are allocated to the core team under more strict lockups and vesting conditions;
- 9% of HMND tokens will be allocated to a broader team, people who join Humanode Core after the mainnet;
- 2% allocated for the market maker;
- 27.5% of the tokens will be allocated to Humanode DAO treasury reserve funds; ● 10% for the ecosystem fund;
- 0.5% of the tokens will be distributed to the Humanode Testnet 1,2,3 participants if they joined before the snapshot happened, meaning, before the announcement of rewards for testnet participants. Please note that tokens will be distributed randomly through the 1st month after TGE.