Humanity Protocol, a decentralized identity initiative, has successfully completed a $20 million funding round, pushing its valuation to $1.1 billion. This increase follows a previous funding of $30 million in May 2024 at a valuation of $1 billion.
The latest funding was co-led by Pantera Capital and Jump Crypto, as reported in an announcement.
Humanity Protocol employs palm scans for identity verification, positioning itself as a competitor to Worldcoin, which authorizes identity through iris scans by OpenAI founder Sam Altman.
The new capital will be invested in enhancing the Proof of Humanity consensus mechanism, facilitating its integration into prominent Web3 platforms.
Read More: Lido Co-Founders Plot Competitor to Sam Altman’s World Network
Key Points:
- Humanity Protocol has raised $20 million in its latest funding round.
- Previous funding in May 2024 was $30 million at a $1 billion valuation.
- The protocol aims to challenge Worldcoin’s iris-scanning technology.
