May 15, 2024
Humanity Protocol, the rapidly growing zero-knowledge (ZK) decentralized identity project, has announced a $30 million Seed Round led by Kingsway Capital. Notable investors, including Animoca Brands, Blockchain.com, Hashed, Shima Capital, and 20 other industry leaders, also participated in the funding round. Humanity Protocol’s private valuation has reached $1 billion with this latest investment.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Humanity Protocol | May 15, 2024 | $30M | Seed | $31.5M | Kingsway Capital | Web3 |
What is Humanity Protocol?
Humanity Protocol is developing a decentralized identity system that ensures the uniqueness of user identities within a decentralized network. By using its Proof of Humanity (PoH) consensus mechanism, the protocol mitigates identity fraud and Sybil attacks, fostering trust and credibility both online and offline. The project aims to become the world’s largest decentralized open identity graph, allowing users to perform transactions without disclosing personal information to third parties.
Recent Funding and Future Plans
The $30 million raised will accelerate hiring and product development ahead of the public testnet launch in the second half of 2024. The funding will also support the enhancement of the protocol's zkEVM Layer 2 blockchain to maintain efficiency and interoperability as the user base grows.
Key Features and Benefits
1. Sybil-Resistant Identity Verification: This feature ensures the uniqueness of each user’s identity within the decentralized system, reducing the risk of fraud and Sybil attacks.
2. Privacy and Inclusivity: This service allows users to prove their identity without disclosing personal information to third parties, promoting privacy and inclusivity.
3. Wide Range of Applications: Enables various transactions, such as asserting ownership of real-world assets, accessing restricted services, and proving education and employment history.
4. Public Support: Within a month of emerging from stealth, the project had over half a million waitlist sign-ups, indicating significant public interest.
Impact of Humanity Protocol
Humanity Protocol’s innovative approach to decentralized identity is set to revolutionize identity management in the digital age. By ensuring unique, Sybil-resistant identities, the protocol fosters trust and inclusivity, enabling a more secure and equitable digital world.
About Humanity Protocol
Humanity Protocol is the human layer for Web3, providing a decentralized identity system that ensures unique, verifiable identities while protecting user privacy and data ownership.
Website: https://www.cfh.xyz/
X Account: @HumanityProt
X Followers today: 53,800
X Followers 30 days ago: 35,140
X Follower change: 18,660 (+53%)
About Investor
Investor: Kingsway Capital
Description: Humanity Protocol is the human layer for Web3, providing a decentralized identity system that ensures unique, verifiable identities while protecting user privacy and data ownership.
Location: United States
Website: https://www.kingswaycapital.com
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