Humanode: The First Crypto-Biometric Network

Abstract

We present a novel 1 Human = 1 Node blockchain protocol which aims to overcome problems arising from plutocratic principles upon which Proof-of-Work (PoW) and Proof-of-Stake (PoS) heavily rely on. The advent of blockchain technology has led to a massive wave of different decentralized ledger technology (DLT) solutions. Projects such as Bitcoin and Ethereum managed to shift the paradigm of how to transact value in a decentralized manner, yet their core technologies give rise to a significant early adopters’ control bias and have led to financial systems flawed by massive inequality and centralization of power. In this paper we propose an alternative to modern decentralized financial networks by introducing the Humanode network. Humanode is a network safeguarded by cryptographically secure bio-authorized nodes on which users are able to deploy nodes by staking their encrypted biometric data. This approach can potentially lead to the creation of a truly public, permissionless financial network, based on consensus between equal human nodes with algorithmic emission mechanisms targeting real value growth and contribution-based wealth distribution.