TL;DR
- The first Proof-of-Person blockchain founded on democratic ideals is Idena.
- Since cryptoidentity has no one issuer, it cannot be regulated, outlawed, or censored.
- Democratic governance One person — one vote is a fundamental principle for democracy.
- Cryptoidentity brings this concept to the blockchain.
- Attention economy Onchain advertising allows to create an ecosystem with attention economy where advertisers pay iDNA to Idena Oracles to review their ads and then burn the coins to compete for the network attention, supporting sustainable economy of the Idena network.
- It doesn’t require to use up high volumes of electricity, GPUs or mining rigs.
The first Proof-of-Person blockchain founded on democratic ideals is Idena. Each Idena validator is associated with a cryptoidentity, which is a single entity with an equal number of votes.
Anyone, regardless of who they are or where they live, can obtain their cryptoidentity. You must demonstrate your uniqueness as a human being in order to become an Idena validator and begin earning with Idena. It does not call for the revelation of any private information (no KYC). When the validation ceremony begins, you must be present online and pass a series of flip-tests (CAPTCHAs).
Quadratic Staking
Quadratic Staking encourages people to secure their identities with iDNA stakes, no matter how small, and ensures a democratic distribution of staking rewards.
Evolution of the Internet
The development of decentralized systems on the Internet has progressed to Idena. First, peer-to-peer cryptocurrency payments were introduced by Bitcoin. A virtual machine for running decentralized apps was later created by Ethereum. Cryptoidentity was developed by Idena, enabling users to create democratic online governance.
Cryptoidentity
Your avatar has been digitally validated by Cryptoidentity. Because it’s semi-unique, validating one account is simple, but obtaining two or more accounts is impossible. It cannot be purchased or sold, its value increases with age, and it cannot be seized. A crucial component of Web 3.0 is an anonymous, Sybil-proof identity.
No authorities
In a peer-to-peer network, members independently verify one other’s cryptoidentities. It is self-managed, anonymous, and applicable anywhere. Since cryptoidentity has no one issuer, it cannot be regulated, outlawed, or censored.
Equal rights for all
In Idena, every cryptoidentity has the same rights to confirm other identities, cast ballots, and audit transactions. Self-sovereign, decentralized, and anonymous cryptoidentity defends the individual’s right to be oneself and to freely associate while preventing abuse of human rights by the powerful.
Democratic governance
One person — one vote is a fundamental principle for democracy. Cryptoidentity brings this concept to the blockchain. Advanced voting mechanisms like quadratic voting could improve distributed governance for everyone.
Freedom of speech
Every voice has a right to be heard. Idena allows spreading information seamlessly, and makes content censorship-resistant.
Universal basic income
Participation in the Idena protocol is accessible for everyone who owns an average laptop with an Internet connection. All Idena participants are empowered to maintain the network and earn basic rewards. These rewards can be considered as a form of universal basic income.
Attention economy
Onchain advertising allows to create an ecosystem with attention economy where advertisers pay iDNA to Idena Oracles to review their ads and then burn the coins to compete for the network attention, supporting sustainable economy of the Idena network.
Sharding + Cryptoidentity = Scalability
Scalable blockchain performing thousands of transactions per second can be built without compromising its safety and decentralization. Sharding combined with cryptoidentity is the solution to the blockchain trilemma: network throughput increases with the number of validated users forming more and more new shards.
Smart contracts for everyone
Blockchain transactions can be expensive. But Idena allows anyone to mine cryptocurrency and to spend it when using smart contracts.
Instant finality
Idena implements a Proof-of-Person Sybil control mechanism and committee-based BFT consensus with fast finality. Every block mined by Idena validators is final with almost 100% probability, which means that blockchain forks are almost not possible. You need to wait just 2 blocks to make sure your transaction will be never reverted.
Eco friendly mining
Idena blockchain is driven by eco-friendly Proof-of-Person consensus. To verify transactions, Idena miner needs to have a valid cryptoidentity and keep their node online. Mining income does not depend on your hardware. It doesn’t require to use up high volumes of electricity, GPUs or mining rigs.
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