What is HMND

Humanode: Revolutionising Blockchain with Biometric Identification

Introduction

In an era where decentralisation and digital identities hold paramount importance, Humanode is making significant strides in transforming the landscape of blockchain technology. Leveraging crypto-biometric identification, Humanode aims to create a secure, egalitarian platform that supports a variety of financial applications and collaborative organisations. This article delves into the core elements of Humanode, exploring its purpose, functionality, the creative minds behind the project, and the significant milestones along its journey.

What is Humanode ($HMND)?

Humanode is a cutting-edge blockchain project designed as a standalone Layer 1 blockchain using a substrate framework. The project's uniqueness lies in its adoption of private decentralised biometric verification for human identification, radically differing from conventional consensus methods such as Proof of Work (PoW) and Proof of Stake (PoS).

At the heart of Humanode's vision is the establishment of an inclusive and democratic blockchain network, characterised by Sybil resistance. This means that the network is fundamentally designed to embody a structure where each participant or “node” corresponds to a single human identity, ensuring equal representation and ownership among millions of global participants.

Core Objectives:

• To enhance security through biometric verification.
• To foster equal ownership of the blockchain network among its users.
• To eliminate power concentrations prevalent in traditional blockchain structures.

Creator of Humanode ($HMND)

The Humanode project is spearheaded by a diverse team of professionals with rich backgrounds in technology, research, and cryptography. Notable figures in the Humanode team include:

• Victor Paradigm: Co-founder of Humanode and an influential figure in technology.
• DatoKavazi: Co-Founder and Director at Paradigm Research, bringing strategic insights to the project.
• Tech_mingler: Co-Founder and a driving force in fundamental analysis within the project.
• MOZGIII: Tech Lead and Co-founder, known for extensive software engineering expertise.
• Sasha Shln: A Ph.D. researcher focusing on integrating modern science and philosophy within the framework of Humanode.
• Hardik Gajera: A Ph.D. in the field, dedicated to developing decentralised private biometric authentication systems.

This collective intelligence and expertise propel Humanode toward its ambitious goals of redefining the blockchain realm.

Investors of Humanode ($HMND)

Humanode has successfully attracted investments from several reputable funds and organisations, signalling strong confidence in its vision and potential. Some of the notable entities supporting Humanode include:

• Republic Capital
• Tribe Capital
• Blizzard, associated with the Avalanche ecosystem
• Wintermute
• GravityX Capital
• Shima Capital
• Genblock
• AU21
• StaFi
• Prominent founders from the Polygon network, Jaynti Kanani and Sandeep Nailwal

This diverse investment base not only underscores the project's promise but also highlights its potential impact on the growth of decentralised finance.

How Does Humanode ($HMND) Work?

Humanode incorporates several innovative features that distinguish it from other blockchain platforms.

Key Functionalities:

• Crypto-Biometric Identification: At the core of Humanode’s revolutionary approach is the integration of AI-powered facial recognition modules. These ensure that each node is tied to a unique, live human identity, further fortifying the network against impersonation and fraud.

• 1 Human = 1 Node = 1 Vote: This principle is crucial to Humanode's design. It guarantees equal validation and voting power for every participant, thus preventing the power imbalances seen in traditional blockchain structures where a few entities exert disproportionate control.

• Fath Monetary System: The issuance of tokens within the Humanode ecosystem is guided by the Fath hypothesis. This innovative mechanism ties the emission of tokens to the platform's activity levels, ensuring sustainable growth that aligns with real-world value production.

• Cost-Based Fee System: Humanode introduces a transaction fee framework that is based on actual resource usage, denominated in terms understandable to users (in INR). This minimises volatility and makes the platform more user-friendly.

Timeline of Humanode ($HMND)

Observing the journey of Humanode reveals key milestones that highlight its growth and development:

• September 28, 2021: Release of the Humanode whitepaper, detailing the project's vision, technical specifications, and theoretical framework.

• September 7, 2022: Unveiling of the comprehensive overview of Humanode's human-powered blockchain and the intricacies of the Fath monetary system.

• Ongoing Development: The Humanode team remains committed to continuous advancements, refining and optimising its network. The ultimate goal is to establish a robust, fair financial network intricately connected to human existence.

Key Points About Humanode ($HMND)

Humanode encapsulates various unique aspects that collectively pave the way for an innovative future in blockchain technology:

• Sybil Resistance: The biometric verification process ensures each node is linked to a unique live human, safeguarding the network from Sybil attacks that plague many other blockchain systems.

• Decentralised Governance: By adhering to the 1 node = 1 vote model, Humanode fosters a balanced power distribution amongst all network participants, safeguarding against authoritarian influences.

• Interoperability: Humanode's infrastructure, built using the Substrate framework, maintains compatibility with Ethereum and other EVM chains, enhancing its ability to connect and collaborate across various blockchain ecosystems.

• Open-Source Commitment: The Humanode project proudly upholds open-source principles, fostering a community-driven environment that welcomes innovation and collaboration, vital for future advancements in blockchain technology.

Conclusion

Humanode is not merely another entry into the crowded blockchain arena; it represents a paradigm shift toward equitable and secure participation in digital networks. By employing biometric identification and promoting decentralised governance, Humanode is poised to challenge the status quo and redefine how we perceive identity and ownership in the crypto realm.

As it continues to evolve through ongoing developments and community engagement, Humanode stands at the forefront of an exciting new chapter in the quest for a truly democratic financial system, rooted in the validation of human existence. The roadmap laid out by this innovative project is a hopeful indicator of how blockchain can both enhance security and ensure fairness in our increasingly digital lives.