Humanode is a substrate-based standalone Layer 1 that offers sybil-resistance through private decentralized biometric verification of human existence and uniqueness rather than relying on PoW and PoS. The platform ensures that each validator node is limited to one node, providing equal validation and voting power for all.

Humanode's AI-powered facial recognition modules check for uniqueness and liveness, while biometric processing is conducted in a private and decentralized manner to protect personal information. The main goal of Humanode is to create a truly distributed, democratic, and Sybil-resistant blockchain Layer 1 owned by millions of human nodes in an equal share.

HMND is the native token of the Humanode blockchain. It pays transaction fees, executes smart contracts, and supports private biometric computations.

Humanode is a unique network that uses human biometrics as its infrastructure. Instead of relying on Proof-of-Work (PoW) or Proof-of-Stake (PoS), Humanode uses a combination of Proof-of-Uniqueness and Proof-of-Existence to create a digital verification layer.

The process of becoming a human node in the system involves undergoing a crypto-biometric authentication process that verifies the existence and uniqueness of a real human being. Only one node can be created per unique human being, and each node has one vote in the system.

The system does not consider factors such as wealth, location, race, beliefs, gender, class, social status, nationality, or physical appearance. The only requirement is that the individual is a unique, registered, and living human being.

In Humanode, each vote has equal power. This means that a malicious actor would have to track down and force many registered human nodes to vote in their favor to gain a majority of votes in the system. This is highly unlikely and unrealistic, making the system secure against attacks.

If an individual attempts to scam the system, their biometrics will be blacklisted, and they will face penalties depending on the severity of the offense. In the worst-case scenario, the individual will lose all access to the network.

Dato Kavazi and Victor Smirnov, the co-founders of Paradigm, a deep-tech research institute, initially conceptualized the project. The first testnet of Humanode was launched in September 2021, followed by the second testnet in December.

Humanode integrated FaceTecs biometrics and liveness detection technology into its crypto-biometrics platform. They also partnered with Republic Crypto in 2021 for collaboration on strategic and technical initiatives and fundraising.

The Humanode mainnet launched in November 2022. In the same month, Humanode announced a partnership with Math Wallet, a multi-platform crypto wallet that supports both Substrate and EVM chains, to support HMND tokens.

In December 2022, Humanode partnered with Occam to launch an incubation initiative. The program would encourage developers to build and launch projects on the Humanode network.

Humanode is an intriguing crypto asset to consider adding to your portfolio, especially if you are interested in blockchain-based AI and deep-tech projects. It differentiates itself from the majority of the crypto market, which mainly focuses on delivering fintech and web3 solutions.

The value of Humanode's HMND token could potentially increase as more users and developers join its network. The resulting uptick in on-chain activity has the potential to drive the token's value higher.

In addition, positive sentiment in the crypto market can also contribute to the strengthening of the HMND token price. When investors have a bullish or risk-on mood, it leads to increased buying activity in the crypto market, which supports the HMND price statistics.

While it is impossible to make an accurate prediction of the HMND token price over time, you can monitor certain key fundamentals to better understand its price action and volatility. These include:

Level of Use

As more users and developers access Humanode's network and services, the value of the HMND token may increase. Higher on-chain activity can also boost investor confidence and support the price of HMND.

Future Upgrades

The introduction of additional use cases for Humanode's technology or the rollout of upgrades that make its ecosystem more attractive than competitors can potentially increase the value of the HMND token. Furthermore, announcements of partnerships and investments by the team can also contribute to a higher price for Humanode crypto.

Market Sentiment

Positive market sentiment towards cryptocurrencies in general, particularly in emerging areas like AI-based crypto projects, can play a crucial role in driving bullish moves in the price of HMND. Conversely, bearish sentiment or a risk-averse mood among global investors can lead to selloffs that weaken the HMND to USD price in the market.

The HMND token is the native token of the Humanode ecosystem and serves the following purposes:

Utility Token

HMND is used to pay transaction fees on the Humanode network, execute smart contracts, and perform private biometric computations. It facilitates various transactions and operations on the platform.

Incentive Token

Validator nodes within the Humanode network receive rewards in HMND for their contributions. They help validate transactions and support the network's operations, earning HMND tokens as incentives.

Crypto Asset to Trade and HODL

You can consider trading Humanode (HMND) against other cryptocurrencies. HMND can be bought or sold, or held for the long term if you believe in the potential of the Humanode project. Before trading, it is recommended to review the current price of HMND, its market cap, circulating supply, and 24-hour trading volume.

The total supply of HMND tokens is fixed at 400,000,000. According to the Humanode tokenomics, the distribution of HMND tokens includes assigning tokens to the treasury reserve, ecosystem fund, funding rounds, public token sale rounds, project team members, testnet participants, market makers, and angel investors.

Humanode has attracted investments from various entities, including Republic Capital, Wintermute, Tribe Capital, Genblock Capital, Baryon Capital, and Shima Capital. The project is also backed by Polygon co-founders Sandeep Nailwal and Jayanti Kanani.

Humanode's partners include Avalanche, Ore Protocol, AIKON, SupraOracles, Ink Finance, Republic Crypto, Subsoil, Paradigm, Aragon, and more.