Humanity Protocol Launches $1.1B Mainnet As Privacy-First Web2 to Web3 Identity Alternative

Humanity Protocol has launched its $1.1 billion mainnet, positioning itself as a privacy-first alternative to Worldcoin in the digital identity space. The blockchain-based platform uses zero-knowledge technologies, including zkTLS, to allow users to prove aspects of their Web2 credentials—such as KYC checks or loyalty status—on Web3 platforms without disclosing sensitive data [1]. This development marks a major step in the project’s mission to provide a decentralized identity infrastructure that avoids the ethical and regulatory issues associated with biometric data collection [2].

The platform, developed by the Human Institute and backed by investors such as Animoca Brands and Polygon Labs, has attracted high-profile figures including Yat Siu and Sandeep Nailwal as “Founding Humans” [1]. Earlier in 2024, Humanity secured $20 million in a funding round led by Pantera Capital and Jump Crypto, establishing its current valuation of $1.1 billion [2].

Unlike Worldcoin, which has faced regulatory scrutiny over its use of iris scanning for identity verification, Humanity Protocol keeps user data local and relies on cryptographic attestations rather than centralized storage [1]. This approach aligns with growing concerns over informed consent and data ethics, particularly in the wake of GDPR rulings against Worldcoin in Germany and bans in countries like Spain [2].

The launch of the mainnet is seen as a potential turning point for decentralized identity, offering a regulatory-friendly framework that could attract developers and institutions looking to integrate Web2 data with blockchain systems [1]. The platform aims to expand into areas such as on-chain ticketing and Sybil-resistant governance, where secure and verifiable identity is essential [2].

The success of Humanity’s platform will ultimately depend on adoption rates and the ability to integrate with existing digital infrastructure [2]. While it presents a compelling alternative to projects that rely on biometric data, the broader impact will be determined by its ability to attract users and developers within the Web3 ecosystem [1].

Source:

[1] Humanity Launches $1.1B Mainnet In Bid To Challenge Worldcoin, (https://financefeeds.com/humanity-launches-1-1b-mainnet-in-bid-to-challenge-worldcoin/)

[2] Worldcoin Rival Humanity Protocol Debuts $1.1B Mainnet for Privacy-First Web2 to Web3 Identity, (https://finance.yahoo.com/quote/DGD-RUB/news/)