Fun

TON’s $5M incentive program aims to drive digital ID verification

News Feed - 2024-04-08 06:04:30

Gareth Jenkinson14 hours agoTON’s $5M incentive program aims to drive digital ID verificationTON Society is offering one million Toncoin tokens to users who verify their identity using palm scanning technology.3857 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe Open Network (TON) ecosystem developers have set aside $5 million of Toncoin tokens to incentivize users to verify their identity using state-of-the-art palm scanning technology. 


TON Society, a community of developers and contributors building out the TON ecosystem, will distribute one million Toncoin to users participating in the voluntary proof-of-personhood program. The project aims to enable digital identity verification for Telegram users over the next five years.


The project uses HumanCode’s technology to allow users to verify their human identity on the blockchain. The application, available on Google Play and Apple Store, lets users scan their palms on a smartphone.


According to information shared with Cointelegraph, the technology provides privacy protection and is hardware-agnostic, allowing the scanner to be used on various mobile devices.


TON Foundation growth director Ekin Tuna said that supporting proof-of-personhood protocols like HumanCode is a step toward a practical reputation system with real-life use cases for TON’s ecosystem:“A scalable, private, and decentralized identity will help to onboard the first one billion users to the Web3 ecosystem in Telegram.”


HumanCode founder Tim Zhang told Cointelegraph that the technology securely scans a human palm by extracting the pattern directly onto a user"s smartphone device. 


“This local extraction ensures the pattern is non-reversible, meaning that even if someone were to gain unauthorized access to our server, reconstructing the palm images from the patterns would be impossible,” Zhang explains.


The founder added that the system maintains U.S. SOC2 data security and privacy certifications and implements a triple-layer privacy protection mechanism. The first step involves local extraction of the user’s unique palm pattern, preventing personal information from being transferred off the device.


The extracted feature is encrypted before being sent to HumanCode servers to secure the data during transmission. The verification process is conducted locally on a user’s device, removing the need to transfer sensitive data to external servers.


HumanCode incentives will be given to TON Society members who complete a palm scan and prove their personhood. A ‘soulbound" token is then minted to represent their verified digital identity before users are rewarded for participating.


Cointelegraph also highlighted the reality of increased skepticism for proof-of-personhood technology in conversation with Zhang, given that Worldcoin has received pushback for its iris-scanning technology.


The company’s iris-scanning devices and data collection methods have been subject to investigations and regulatory scrutiny in Hong Kong, Spainand Franceover the past six months. A Worldcoin iris-scanning orb on display at ETHGlobal in London in March 2024. Source: Gareth Jenkinson


Zhang said HumanCode’s use of robust security protocols and encryption is an important trust-bridging factor, while suggesting that users might feel less intimidated about scanning their hands instead of their eyes:“From our experience, palm recognition technology is inherently more acceptable. For most people, scanning your palm with a smartphone camera just feels less intrusive than eye-scanning.”


Zhang also said the technology can potentially combat bots and fraudulent accounts on any social media platform by verifying the authenticity of users through unique palm patterns. This allows a platform to effectively distinguish between real users and automated bots.


In March, the TON Foundation allocated 30 million Toncoin, worth around $115 million, for various community rewards to drive adoption.


The incentives are allocated to four different areas: $38 million worth of TON will go to token mining and user incentives, $22 million for airdrops, $15 million for the League developer ecosystem, and $40 million for liquidity pool boosts.


The Telegram Ad Platform, built on the TON blockchain, officially went live in March 2024. The platform allows Telegram channel owners worldwide to receive financial rewards, exclusively selling advertising and sharing revenue with channel owners in TON.


Magazine: AI didn’t kill the metaverse, it will build it — Alien Worlds, Bittensor vs. Eric Wall: AI Eye# Blockchain# Identity# Adoption# Telegram# Identification# TONAdd reaction

News Feed

Namibian Educator: Low Level of Crypto and Blockchain Adoption in Africa Compelled Me to Write a Book
Namibian Educator: Low Level of Crypto and Blockchain Adoption in Africa Compelled Me to Write a Book Blockchain and crypto enthusiasts have for years preached about the much envis
African Web3 Startup Raises $6.45 Million in Pre-Seed Round, Serena Williams’ Investment Firm Participates
African Web3 Startup Raises $6.45 Million in Pre-Seed Round, Serena Williams" Investment Firm Participates An African startup, Nestcoin, said it raised $6.45 million in a pre-seed
How to Recover $100 Billion in Lost Crypto Wallets – KeychainX CEO Robert Rhodin Explains
How to Recover $100 Billion in Lost Crypto Wallets - KeychainX CEO Robert Rhodin Explains KeychainX AG is a Swiss based crypto recovery company helping people access lost crypto si
Buy a Dream House With Bitcoin In the Idyllic Caribbean Valley of Puerto Rico
Buy a Dream House With Bitcoin In the Idyllic Caribbean Valley of Puerto Rico sponsored At one point in every crypto enthusiast’s life he or she has envisioned buying their d
Pinning the Tail on Satoshi Nakamoto — How Journalists Erroneously Used Circumstantial Evidence Over the Years to Identify Bitcoin’s Creator
Pinning the Tail on Satoshi Nakamoto — How Journalists Erroneously Used Circumstantial Evidence Over the Years to Identify Bitcoin’s Creator The search for Satoshi Nakamoto, Bi
XRPL blockchain plugs into cross-chain DeFi
Gareth Jenkinson14 hours agoXRPL blockchain plugs into cross-chain DeFiRipple helped build an ecosystem automated market maker protocol in close partnership with the XRP Ledger blockchain community.9556 Total views10 Tot
DeFi Project Xfinance(XFI) ILO Presale Scheduled for Sept 10th
DeFi Project Xfinance(XFI) ILO Presale Scheduled for Sept 10thDeFi project – Xfinance announced they will cooperate with LID Protocol and launch XFI ILO presale on the LID presale
Ethereum 2.0 Deposit Threshold Met: Proof-of-Stake ‘Beacon’ Chain Starts in 7 Days
Ethereum 2.0 Deposit Threshold Met: Proof-of-Stake "Beacon" Chain Starts in 7 Days The Ethereum network’s ETH 2.0 contract has crossed the threshold needed
Alleged BTC-e Operator Alexander Vinnik in US Custody After Immediate Extradition From Greece
Alleged BTC-e Operator Alexander Vinnik in US Custody After Immediate Extradition From Greece Russian IT specialist Alexander Vinnik, accused of owning and running the infamous cry
2 Gold-Backed Crypto Asset Market Caps Near $1 Billion, XAUT Jumps 19,000% in 23 Months
2 Gold-Backed Crypto Asset Market Caps Near $1 Billion, XAUT Jumps 19,000% in 23 Months While reserve-backed crypto assets and stablecoin market valuations increased a great deal d
Snoop Dogg Partners With Virtual Blockchain World Sandbox — Rapper Plans to Recreate His Mansion and Drop NFTs
Snoop Dogg Partners With Virtual Blockchain World Sandbox — Rapper Plans to Recreate His Mansion and Drop NFTs Following the American rapper Snoop Dogg doxing himself as a crypto
Crypto Economy Spikes More Than 11%, Entire Market Cap Captures Over $800 Billion
Crypto Economy Spikes More Than 11%, Entire Market Cap Captures Over $800 Billion Digital currency markets have seen decent gains this weekend as bitcoin touched