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    Home » TON launches $5M incentive program to boost digital ID verification
    Ton blockchain palm scanning tech
    Blockchain

    TON launches $5M incentive program to boost digital ID verification

    By Sylvia ShenApril 10, 2024No Comments3 Mins Read
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    • The developers of the open network (TON) ecosystem allocate $5 million worth of Toncoin to drive user identity verification via palm scanning technology.
    • Ton Society commits to distributing one million Toncoin for a proof-of-personhood program, aiming to streamline digital identity verification for Telegram users over the next five years.
    • HumanCode’s expertise in next-gen personal genomics enables blockchain-based human authentication, facilitating seamless identity verification in the TON ecosystem, as emphasised by Ekin Tuna, the growth director of the TON Foundation.

    The developers of the Open Network (TON) ecosystem, a decentralised computer network, have allocated $5 million worth of Toncoin, its native token, to incentivise users to verify their identities using palm scanning technology.

    Blockchain-based human authentication

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

    The project allows users to authenticate themselves as human beings on the blockchain using technologies developed by HumanCode, a company that specialises in next-generation personal genomics applications.

    Due to its hardware-agnostic nature and privacy protection features, the palm scan technology can be used with a variety of mobile devices.

    Also read: Binance ends support for USDC on Tron blockchain

    Ekin Tuna, the growth director of the TON Foundation, sees integrating proof-of-personhood protocols like HumanCode as a crucial step toward establishing a practical reputation system for the TON ecosystem.

    He stated: “A scalable, private, and decentralised identity will help to onboard the first one billion users to the Web3 ecosystem in Telegram.”

    Members of TON Society who successfully complete a palm scan to verify their identity will receive rewards from HumanCode. Subsequently, participating users are rewarded, and a token is created to symbolise their confirmed digital identity.

    Also read: Polygon zkEVM ongoing downtime due to blockchain sequencer issues

    Toncoin allocations fuels community adoption

    The TON Foundation provided 30 million Toncoin, or around $115 million, in March for a range of community incentives aimed at promoting adoption.

    Incentives are distributed across four areas: $38 million for token mining and user incentives, $22 million for airdrops, $15 million for the League developer ecosystem, and $40 million for liquidity pool boosts.

    In March 2024, the operational TON blockchain-powered Telegram Ad Platform enabled global earnings for channel owners, with ad sales conducted solely through the channels and revenue shared in TON.

    Ekin Tuna HumanCode TON TONcoin
    Sylvia Shen

    Sylvia Shen is an editorial assistant at Blue Tech Wave specialising in Fintech and Blockchain. She graduated from the University of California, Davis. Send tips to s.shen@btw.media.

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