May 25, 2024
Latest Cryptocurrency News

TON Ecosystem Introduces Palm Scanning for Identity Verification

The developers behind The Open Network (TON) ecosystem have earmarked $5 million worth of Toncoin tokens to encourage users to verify their identities using cutting-edge palm scanning technology.

TON Society, a collective of developers and contributors shaping the TON ecosystem, plans to distribute one million Toncoin to participants in a voluntary proof-of-personhood program. The initiative aims to facilitate digital identity verification for Telegram users over the next five years.

Advanced Technology for Secure Verification

Utilizing HumanCode’s technology, users can securely verify their human identity on the blockchain.

The application, accessible on Google Play and Apple Store, allows individuals to scan their palms using a smartphone. The technology boasts privacy protection measures and is compatible with various mobile devices.

According to Ekin Tuna, TON Foundation growth director, endorsing protocols like HumanCode is a pivotal step toward establishing a practical reputation system with tangible applications within TON’s ecosystem.

Tuna believes that scalable, private, and decentralized identity solutions will facilitate the onboarding of the first billion users into the Web3 ecosystem via Telegram.

Security and Privacy Measures

HumanCode founder Tim Zhang assures users of the technology’s security features. The palm scanning process securely extracts the unique palm pattern onto the user’s device, ensuring non-reversibility even in the event of unauthorized access.

Additionally, the system upholds U.S. SOC2 data security and privacy certifications, incorporating triple-layer privacy protection mechanisms.

Community Incentives and Future Prospects

TON Society members completing a palm scan and verifying their personhood will receive HumanCode incentives. This process involves minting a ‘soulbound’ token to represent their verified digital identity.

Despite the increased scrutiny surrounding proof-of-personhood technology, Zhang remains confident, suggesting that palm recognition is more widely accepted and less intrusive compared to iris scanning.

A Worldcoin iris-scanning orb showcased at ETHGlobal in London in March 2024. Source: Gareth Jenkinson

The introduction of palm scanning technology not only aims to enhance identity verification but also potentially combats bots and fraudulent accounts on social media platforms. The TON Foundation’s recent allocation of Toncoin for community rewards underscores its commitment to driving adoption within the ecosystem.

Image by freepik

Related posts

Hong Kong SFC Sets Standards for Tokenized Securities in Latest Circular Release

Kevin Wilson

South Korean Crypto Exchanges Report 50% Surge in Suspicious Transactions

Cheryl  Lee

Top Trends Shaping the World of NFTs and Digital Art in 2023

Staff

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Please enter CoinGecko Free Api Key to get this plugin works.
Index