Humanode, a blockchain built with Polkadot SDK, becomes the most decentralized by Nakamoto Coefficient
05/02/2024 19:33
London, United Kingdom, May 1st, 2024, Chainwire
Humanode, a Layer-1 blockchain built with Polkadot SDK, has become the most decentralized blockchain network to date based on the Nakamoto Coefficient. With 706 active validator nodes, the Nakamoto Coefficient for the Humanode is 236, shooting past the prior number one, Mina, which has a Nakamoto Coefficient of 155. Polkadot now holds the 3rd place.
The Nakamoto Coefficient is a measure that represents how many node operators will be required to control the share of a layer-1 blockchain which is enough to shut down the network if validators coordinate to do so. The greater the number, the more decentralized the blockchain is.
“Proof-of-Stake blockchains tend to centralize around the biggest validators or staking protocols, like Lido, which actually hold the infrastructure. If Lido goes down once, people will start questioning the decentralization of Proof-of-Stake networks. They may have millions of nodes, but the real control over consensus is in the hands of few. We always wanted to change this,” says Humanode co-founder Victor. “In Humanode, one person can only launch one node, which is verified with cryptobiometric technology. All validators wield equal power, meaning that the Humanode chain decentralization increases proportionally to the number of human nodes. Imagine what kind of Nakamoto Coefficient will be achieved when we hit 10,000 nodes or 1 million nodes!? This makes a coordinated attack almost impossible. No project will be able to claim that it is more decentralized than Humanode.”
Humanode will soon unveil its governance protocol where one human node has only one vote, creating the first democratic DAO which will control the further development of the core protocol and its ecosystem.
About Humanode
Humanode, built on Polkadot SDK as an EVM Compatible Layer-1, is the first cryptobiometric blockchain where one human = one node = one vote. It utilizes private facial recognition which protects against multiple accounts and bots taking advantage of retroactive airdrops, DAOs, DeFi, NFT mints, GameFi, and more. After just a year from mainnet launch, Humanode boasts 500,000+ users and 70+ projects utilizing its cryptobiometric technology.
Contact
Shannon Higgins
[email protected]
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.