Humanode (HMND) is a cryptocurrency native to the Humanode blockchain, a decentralized, crypto-biometric network that integrates blockchain technology with private biometrics. It leverages the Substrate framework, ensuring high scalability and interoperability within the Polkadot ecosystem. The network is secured by "human nodes," which are verified through decentralized biometric authentication, ensuring that each node is owned and operated by a unique human being. The HMND token is used for transaction fees, smart contract execution, and private biometric computations, supporting a fair and egalitarian platform for decentralized applications.
Humanode (HMND) is a cryptocurrency that powers a decentralized crypto-biometric network. It is used in various ways to ensure Sybil resistance, decentralized identity, and fair distribution of power within the network. Here are some key use cases:
Biometric Authentication: HMND is used to create encrypted 3D face mapping vectors for users, which serve as their biometric identity. This identity is used to verify transactions and ensure that each user has a unique and equal stake in the network.
Node Creation: Users can create nodes on the network by encrypting their biometric data, which becomes the stake that gives them access to verify transactions. This ensures that each node is owned and operated by a real, unique human being.
Consensus Mechanism: Unlike traditional proof-of-stake (PoS) or proof-of-work (PoW) consensus mechanisms, Humanode uses biometric consensus, which is more efficient and ensures fair distribution of resources. Users do not need to stake tokens to prevent Sybil attacks, making it more accessible and democratic.
Cost-Based Fees: HMND introduces a cost-based fee system that denominates transaction fees in USD terms, based on the actual usage of resources. This ensures that the volatility of HMND does not affect resource costs and provides a more intuitive user experience.
Decentralized Applications: Humanode can provide private biometric processing and Sybil-resistance to various decentralized applications (DApps) and protocols based on other EVM-compatible chains, such as Ethereum.
Use Cases: HMND can be used in various industries, including over-the-counter (OTC) markets, launchpads, airdrops, social networks, marketplaces, credit scoring, decentralized identifiers (DIDs), and non-fungible tokens (NFTs), ensuring fair and secure transactions in these domains.
Overall, HMND is the native gas coin of the Humanode network, facilitating secure, decentralized, and Sybil-resistant transactions across various applications.
To store Humanode (HMND) tokens securely, you can use cold wallets, which are offline storage solutions. There are two types of cold wallets:
Paper Wallet: This method involves generating public and private keys offline and printing them on paper. The keys are in the form of QR codes, which you can scan for future transactions. This method is considered highly secure as it is not connected to the internet.
Hardware Cold Wallet: These are physical devices that store your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person with the device can access the assets. Hardware wallets are preferred by many users, especially for storing large amounts of coins or tokens.
Additionally, you can use software wallets like Talisman Wallet, which offers multichain support and robust security features. This wallet allows you to store, transfer, receive, and manage your HMND tokens efficiently.
To buy Humanode (HMND) tokens, follow these steps:
Choose a Crypto Exchange: Select a reputable cryptocurrency exchange that supports HMND, such as KuCoin, CoinEx, or MEXC. Research the exchange to ensure it accepts customers from your country and offers the features you need.
Create an Account: Register a free account on the chosen exchange. Provide the required personal information, including your name and email address. You may need to complete Know-Your-Customer (KYC) verification to increase withdrawal limits and unlock additional features.
Make a Deposit: Add funds to your exchange account using a supported payment method. This can include fiat currencies or other cryptocurrencies.
Place a Buy Order: Decide whether to use a Market Order or Limit Order. A Market Order buys HMND at the current market price, while a Limit Order allows you to set a specific price at which you want to buy.
Store Your HMND: After purchasing HMND, consider storing your tokens in a secure wallet. Options include paper wallets and hardware cold wallets, which offer better security than keeping your tokens on the exchange.
By following these steps, you can successfully buy and manage your Humanode (HMND) tokens.
