Human

About Human

Cryptocurrencies have come a long way since Bitcoin first emerged in 2009. While Bitcoin pioneered decentralized digital money, newer cryptos aim to build entire decentralized ecosystems for finance and beyond. One such project is Human (HMT), which utilizes crypto technology to power a decentralized labor marketplace.

What is The HUMAN Protocol

The HUMAN Protocol is revolutionizing how job markets operate by leveraging decentralization and automation. Its main goal is to improve how tasks are requested and executed by humans. This is achieved by transforming contributions into digital tokens and making the process of starting, evaluating, and rewarding these contributions more efficient through blockchain technology.

This protocol introduces an innovative approach for collaboration between humans and machines. It facilitates posing questions that require human insight for machines to operate effectively. For instance, to refine AI recommendations for shoe selections, it’s crucial to understand which shoes are considered similar by humans. HUMAN Protocol allows for such queries, enabling the collection of essential data and rewarding individuals who contribute. This opens up new avenues for companies developing services like product searches, providing them with the tools to build the datasets essential for powering AI technologies.

How Does The HUMAN Protocol Work?

The HUMAN Protocol operates as a foundational layer within a larger ecosystem, primarily through the HUMAN Routing Protocol (RP), which establishes the operational framework for third-party contributions in the network. It outlines the procedures for setting prices, finding operators, staking, penalty enforcement, and governance mechanisms.

Let’s explore the components and main actors in the job process lifecycle:

1. HUMAN Token (HMT): HMT is used for compensating Workers after job completion and is the currency that Operators stake to provide Protocol services.
2. Job Initiator: These are entities or individuals who start job processes and secure funding for them by depositing HMT into a smart bounty.
3. Smart Bounty: This mechanism holds HMT in a secure escrow until Workers fulfill the task requirements. While Initiators can cancel these bounties, they are prevented from withholding payment unjustly. The Recording Oracle evaluates completed work, instructing the smart bounty to distribute payment for approved tasks. Any leftover funds can be reverted to the Initiator.
4. Job Dispatcher: Used by Initiators to set job details and deploy them within the HUMAN framework, offering a template for those looking to implement their own Job Dispatchers.
5. Exchange Oracle: This component pulls relevant off-chain data from task completion platforms like hCaptcha, Audino, and CVAT.
6. Verification Oracle: It confirms the accuracy of work as reported by the Exchange Oracle, keeping a detailed log of Worker submissions and providing a preliminary work quality assessment.
7. Reputation Oracle: Following the Verification Oracle’s assessment, this oracle finalizes the work quality review, attributing reputation scores to Workers and updating the smart contract for payment processing.
8. Adaptive Chain Selection Oracle: It determines the most suitable blockchain for task execution by analyzing variables such as HMT market liquidity, network traffic, and worker availability, potentially consulting The Graph for liquidity information.

Use Cases

AI systems thrive on categorized data. Platforms utilizing the Protocol offer resources and connect data labeling tasks with workers, facilitating the development of AI. By incorporating HUMAN’s APIs, businesses can integrate human judgment into their AI models. The Protocol processes millions of assignments monthly.

Blockchain platforms often require confirmation that interactions are human-driven to ward off automated scripts. HUMAN supports direct blockchain verification of an individual’s presence, safeguarding against robotic interference. This feature is crucial for applications like cryptocurrency trading, forecast markets, and beyond.

Organizing labor, maintaining standards, and compensating employees on a large scale poses challenges. HUMAN permits the publication of tasks, which can be executed by a widespread workforce. Virtually any job can be listed on the Protocol, with its execution and remuneration overseen by automated systems.

Prediction markets are potent yet require accurate odds calculation for events, which demands extensive participation. HUMAN grants these markets access to a vast pool of global contributors, allowing for the collection of odds on various outcomes, securely recorded on the blockchain.

Numerous individuals are engaged in intellectual tasks that can be converted into HUMAN tasks, yet connecting with the appropriate contributors timely remains a hurdle. The Protocol supports a range of tasks from translation to transcription, ensuring tasks are matched with the ideal workforce, while software guarantees quality and payment.

What is HUMAN Token (HMT)

HUMAN Token (HMT) serves as the medium of exchange in the HUMAN Protocol. Total Supply: 1,000,000,000 HMT

Token Allocation:

• Operating foundation: 19.8%
• Issuing foundation: 1.0%
• Ecofund allocation: 10.2%
• CoinList: 9.6%
• Team: 7.5%
• Strategic partners: 22.4%
• Purchasers: 3.7%
• Presale: 23.4%
• Advisors: 2.5%

Looking Toward the Future

Human aims to build the decentralized labor marketplace of the future. By leveraging crypto economics and community governance, they hope to remove rent-seeking intermediaries and empower users.

HMT has built-in utility and incentives that could enable broad participation and network effects. However, realizing this potential will require overcoming adoption challenges through clever design and transparent governance.

If Human can deliver on its promise of blockchain-powered finance and labor markets controlled by participants, it could open the door to a more open and empowering human economy. The next few years will prove pivotal in writing the Human story.