Humanity Protocol, with a valuation of 1 billion, successfully raised another 30 million US dollars, becoming a unicorn in the field of digital identity verification. As a benchmark product of Worldcoin, what are their respective characteristics and advantages?
1. Technical Principles and Identity Verification Methods
Humanity Protocol：
Authentication method: Palmprint scanning technology is used as the core means of human identity authentication. Palmprint recognition technology has higher user acceptance and convenience compared to less invasive authentication schemes such as iris scanning.
Technical features: Combined with zero-knowledge proof technology, it provides users with complete ownership of their data and identity, while building a decentralized identity authentication system that can not only effectively resist witch attacks, but also integrate verifiable credentials locally into the decentralized validator node network.
Worldcoin：
Authentication method: Iris scanning technology is used for authentication, and the user's identity is verified through a special hardware device called Orb. This method ensures the uniqueness and authenticity of the identity, but there may be a problem of low user acceptance.
Technical features: Based on blockchain technology, it uses distributed ledgers and smart contracts to implement the issuance and trading of tokens. Worldcoin also introduces zero-knowledge proof technology to protect user privacy while ensuring that the control of identity data is in the hands of users.
2. Application Scenarios and Ecosystem
Humanity Protocol：
Application scenarios: The company plans to apply its identity verification technology to financial services, online transactions, healthcare, education, the Internet of Things, and other fields. It will promote the digitalization of these fields by providing secure and reliable digital identity solutions.
Ecosystem construction: Cooperate with well-known blockchain companies such as Polygon Labs and Animoca Brands to jointly promote the construction and development of the Humanity Protocol ecosystem.
Worldcoin：
Application scenarios: Mainly focused on achieving the goal of universal basic income through the identity authentication system World ID and WLD tokens. World App, as a wallet application, provides users with a convenient way to access Worldcoin and Ethereum protocol.
Ecosystem construction: Worldcoin is committed to building a global digital identity and financial network solution, but the development of its ecosystem is relatively simple, mainly focusing on identity authentication and token distribution.
3. Financing and Market Performance
Humanity Protocol：
Financing: Recently, it received $30 million in financing at a valuation of $1 billion, led by Kingsway Capital, with participation from Animoca Brands, Blockchain.com and Shima Capital. The funds will be used to expand the product development department and prepare for the launch of the public test network.
Market performance: As a newly-established unicorn company, Humanity Protocol has shown strong development momentum in the field of blockchain identity authentication. Its palm print recognition technology has attracted widespread attention in the market and is expected to be more widely used in the future.
Worldcoin：
Financing: It has completed multiple rounds of luxurious financing, with a valuation of US$1 billion. Investors include well-known venture capital institutions such as a16z, Khosla Ventures, and Bain Capital Crypto.
Market performance: Although Worldcoin has achieved remarkable results in financing, it faces multiple challenges such as token unlocking, regulation, and insiders cashing out at high prices. These problems have affected its market performance and future development prospects to a certain extent.
IV. Challenges and Opportunities
Humanity Protocol：
Challenge: Need to further improve the accuracy and stability of palmprint recognition technology, while strengthening ecosystem construction to attract more users and partners.
Opportunities: With the continuous development of blockchain technology and the continuous expansion of application scenarios, Humanity Protocol is expected to occupy an important position in the field of identity verification and achieve rapid growth.
Worldcoin：
Challenges: Issues such as token unlocking, regulatory compliance, and user acceptance need to be addressed. It is also necessary to strengthen the diversity of the ecosystem to cope with market changes.
Opportunities: Through continuous technological innovation and market expansion, Worldcoin is expected to achieve wider application around the world and promote the development of the digital economy.
In summary, Humanity Protocol and Worldcoin have their own strengths in the field of blockchain identity authentication. Humanity Protocol has shown strong development momentum with its advantages in palm print recognition technology and ecosystem construction; while Worldcoin has occupied a place in the market with its strong financing background and global digital identity solutions. The future development of the two will depend on how each responds to challenges and seizes opportunities.
