Blockchain
Humanity Protocol’s Testnet Launch Attracts 25,000 Users to Join the Digital Identity Revolution in the First 24 Hours
Humanity Protocol, the rapidly growing zero-knowledge (ZK) decentralized identity project, is excited to announce the successful launch of the first phase of its testnet, which has already attracted 25,000 registrations within the first 24 hours. The enthusiastic uptake in the testnet underscores a significant interest and need for enhanced privacy measures and decentralized solutions in digital identity management across the globe.
Recently valued at US$1 billion, Humanity Protocol is at the forefront of the zero-knowledge decentralized identity revolution. By seamlessly blending non-invasive biometrics with cutting-edge Proof of Humanity technology, the protocol offers a secure, user-centric approach to identity verification.
The testnet rollout is structured in three strategic phases:
- Human ID Reservation: Users can now reserve their unique Human ID, serving as their username and identity within the Humanity Protocol ecosystem. This ID is crucial for engaging in secure transactions and accessing various decentralized applications (dApps).
- Palm Pre-enrollment via Mobile App: Scheduled for mid-October, this phase will enable users to register their palm prints through a dedicated mobile app, enhancing the security and privacy of the digital identity verification process.
- Full Enrollment via Palm Vein Verification: The final phase involves a palm vein scan using specialized Humanity Protocol devices, utilizing biometric data that provides unparalleled security due to its unique and nearly impossible-to-replicate nature.
At the core of Humanity Protocol’s security strategy is the use of zero-knowledge proofs, which enable users to verify their identities without disclosing personal information. This enhances user trust while maintaining privacy. Advanced encryption methods built on a robust blockchain infrastructure are also employed to ensure high standards of data protection and prevent unauthorized access.
Humanity Protocol tackles the growing issues of online identity fraud, Sybil attacks, and bot manipulation by providing a decentralized solution for identity attestation. With the ownership of personal data concentrated within a small number of large tech companies, verifying the authenticity of individuals without compromising privacy has become a significant challenge. Humanity Protocol addresses this with a system that uses zero-knowledge proofs and biometric data, such as palm scans, to create unique, verifiable Human IDs. This ensures that users can prove their identity without revealing sensitive personal information, combating the rise of fake identities while preserving privacy and security.
Terence Kwok, CEO and Founder of Humanity Protocol, said, “The successful launch of our testnet is a huge milestone for Humanity Protocol, marking the first step in revolutionizing digital identity through privacy-first solutions. 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. 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.”
Participants who engage early not only secure their digital identity but also contribute significantly to the network’s expansion. The platform’s referral system rewards early adopters with a portion of the testnet tokens generated by their referrals, emphasizing the protocol’s commitment to fostering a community-driven ecosystem.
With the progression of the testnet through its planned phases, Humanity Protocol aims to continually enhance user capabilities and security features, reflecting the evolving demands and expectations of the digital world.
For information about the testnet, please click here and for more details about the Humanity Protocol, please visit Website | X | Discord | Telegram.
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Blockchain
$FAR Token ranks first on Bybit exchange and soars to 44%following staking program launch: Coingecko
Farcana — United Arab Emirates based Bitcoin shooter game, has announced that its $FAR token is now ranked first on Bybit exchange. This development comes after the launch of its staking program, which offers users a 60% annual percentage rate (APR) on their $FAR tokens.
The staking program requires users to utilize the Polygon network for staking their announcement. Following the announcement, $FAR token soared to 44% according to Coingecko.
Founded in 2022, Farcana recently raised $10 million in seed funding from Animoca Brands, Polygon Ventures, Fenbushi Capital, and Merit Circle among others. It is built on Unreal Engine 5 and Farcana shares a similar graphical style with Overwatch, a team-based multiplayer first-person shooter game by Blizzard Entertainment. The game is understood to operate under a free-to-play model.
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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.
A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
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