Decentralized identity challenge Humanity Protocol has closed a $20 million funding round, raising its valuation to $1.1 billion.
The funding round used to be co-led by Pantera Capital and Soar Crypto, in accordance to an emailed announcement.
The challenge final raised $30 million at a $1 billion valuation in Would possibly perhaps perchance additionally 2024
Humanity plans to use the novel capital to tempo up the advance of its Proof of Humanity consensus mechanism and integrate it into leading Web3 platforms.
The protocol, which uses palm scans to study identity, aims to rival OpenAI founder Sam Altman’s Worldcoin challenge, which is built round scanning users’ irises.
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