Humanity Protocol, a decentralized identity project, has just secured a $20 million funding round, pushing its valuation to an impressive $1.1 billion. This round was co-led by Pantera Capital and Jump Crypto. Previously, in May 2024, the project raised $30 million at a $1 billion valuation. The fresh capital will fuel the development of Humanity’s Proof of Humanity consensus mechanism and its integration into major Web3 platforms. Unlike Worldcoin, which scans users’ irises, Humanity Protocol uses palm scans to verify identity. This innovative approach aims to provide a competitive edge in the decentralized identity space.
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