Humanode, a crypto-biometric network where one human equals one node and the in-house project of crypto firm Paradigm, today announced that it has successfully closed a $2 million seed funding round.
Led by Republic Capital, the round was backed by others including Tribe Capital, Blizzard – ecosystem fund Avalanche, Wintermute, GravityX Capital, Shima Capital, Genblock, AU21 and StaFi, as well as the co-founders of Polygon, Jayanti Kanani and Sandeep Nailwal.
“Right now, crypto-governance is a plutocratic nightmare filled with whale and Sybil attacks. Humanode is putting in place the basic infrastructure for robust, fully pseudonymous digital identities that will serve as the cornerstone of our digital world of more and more immersive.
– Alex Ye, Managing Partner of Republic Crypto
To achieve their goal of one human = one node = one vote to overcome the myriad known issues in crypto-economics and governance, Humanode uses a consensus mechanism based on crypto-biometric identification. The Humanode team has developed a layer 1 protocol that offers strong Sybil resistance thanks to very precise private biometric algorithms in close collaboration with Facetec.
“Sybil’s attack is what stands between humanity and a whole new way of interacting with the world around us. It’s not just a blockchain problem. Bots are a scourge of any digital infrastructure high level and we are here to get rid of it in a private and decentralized way.By providing a blockchain based on biometrically verified pseudonymous identities, we want to ensure that all systems built on top of it can be sure that the nodes are human beings. unique living and breathing humans. Thank you Republic Crypto and Alex Ye in particular for supporting us. Humanode invites everyone to join in its efforts and with rejuvenated strength, we are marching towards the untamed frontier of computing.
– Humanode co-founder, Dato Kavaz
Prepared to launch its public sale and mainnet in the summer of 2022, Humanode recently launched V2 of its testnet platform. There were over 11,000 applications to become one of the world’s first human nodes (biometrically verified validator nodes), and over 3,000 were invited to participate, with over 500 validator nodes running concurrently.
After the two-week closed beta for V2, the public open beta of the software was released on December 23 and 1,150 additional human nodes were launched, bringing the number of active unique validators to 1,650 as of February 10, 2022.