The decentralized identity project, Humanity Protocol, has successfully raised $20 million in a funding round, resulting in a valuation of $1.1 billion. The round was co-led by Pantera Capital and Jump Crypto. This follows a previous funding round in May 2024, where the project raised $30 million at a $1 billion valuation. Humanity Protocol plans to utilize the new capital to expedite the development of its Proof of Humanity consensus mechanism and integrate it into prominent Web3 platforms. The protocol aims to compete with Sam Altman's Worldcoin project, which verifies identity through iris scanning, by using palm scans.



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