Decentralized Identity Provider Humanity Protocol’s H Token Booms After ‘Fairdrop’

Just days after its mainnet went live, Humanity Protocol’s H token has spiked nearly 400% on the week to a $1 billion fully diluted valuation (FDV).

A decentralized identity protocol, Humanity uses palm scans to verify identity with a very high degree of accuracy. Initially, this can be done with an app using a smartphone’s camera; however, in later phases, Humanity will roll out special scanners that utilize infrared technology to scan palm veins for even more accurate results. These will be suitable for businesses and other public uses.

Humanity claims 800,000 users have signed up for Human ID with their palm scans. The H token has surged by 40% in the past 24 hours.

Fairdrops

A Layer 2 blockchain built on Polygon, Humanity utilizes a palm scan-based Proof-of-Humanity consensus mechanism, which employs zero-knowledge proofs to protect users’ private information while allowing them to verify that they are not bots or impostors. Only the user has full access to their personal information.

Its June 26 H token launch came a day after early users and supporters could claim their H tokens via a “Fairdrop” that used Humanity’s scanning technology to ensure only humans received tokens, not bots or people with multiple fake identities, or sybils.

“Most airdrops get farmed by bots. Most tokens go to the wrong people. We’re fixing that,” Humanity Protocol said on X. It was the inaugural user of its Fairdrops platform, which it calls “the first truly fair airdrop platform.”