Humanity Protocol, a decentralized identity solution, has achieved unicorn status with a valuation of $1 billion after securing $30 million in funding. This significant investment, led by Kingsway Capital and supported by 22 other investors, including Animoca Brands and (link unavailable), will fuel the expansion of Humanity Protocol's product development team as it prepares for the public test network launch later this year.

Humanity Protocol's innovative approach to blockchain security involves palm scanning and zero-knowledge technology to verify and secure digital identities. This alternative to iris scanning aims to address privacy concerns and provide a more secure solution for users.

With over half a million people signed up since its waitlist went public, Humanity Protocol is poised to make a significant impact in the decentralized identity market.The project's founder, Terence Kwok, is joined by Animoca Brands co-founder Yat Siu and the Polygon Labs team in developing a test network, which was launched in February.

As the blockchain-based identity market continues to grow, Humanity Protocol emphasizes the importance of a user-friendly enrollment process and decentralized data storage, ensuring that users retain full ownership of their personal information. With data breaches on the rise, Humanity Protocol's innovative solution is well-positioned to address the growing need for secure digital identities.