What Is Idena? (IDNA) Complete Guide Review About Idena.

What Is Idena? (IDNA) Complete Guide Review About Idena.

What Is Idena?

Idena is the first Proof-of-Person blockchain based on democratic principles. Every mining node is linked to a cryptoidentity – one single person with equal voting power and mining income. Every unique human can become an validator no matter who they are and where they live. To start mining you need to prove you are a unique human. It does not require the disclosure of any personal data (no KYC). You need to appear online when the validation ceremony starts and solve a series of flip-tests (CAPTCHAs).

Idena is a novel way to formalise people on the blockchain without personally identifiable information. Idena proves the humanness and uniqueness of its participants by running an AI-resistant test at the same time for everyone around the globe. The blockchain is driven by Proof-of-Person (PoP) consensus. Every node is linked to a cryptoidentity — one single person with equal voting power. Idena is the first proof-of-person blockchain where every node belongs to a certain individual and has equal voting power. The network of validated people solves the blockchain oracle problem: It’s independent mining nodes can act as oracles.

Idena Storage Key Points

Coin BasicInformation
Coin NameIdena
Short NameIDNA
Circulating Supply47,515,171.73 IDNA
Total Supply72,836,817
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

How to Join Idena?

To use Idena Coin only for sending coins, you just need to download the app. To create a cryptoidentity and start mining coins, you should receive an invitation code from a validated participant of the network and use the code to apply for validation. They enables democratic access to mining: Neither expensive mining hardware nor a bunch of money for stake is needed, but rather an average laptop that is online.

Why Choose Idena?

Evolution of the Internet

Idena is the next step in the evolution of decentralized systems on the Internet. First, Bitcoin brought peer-to-peer cryptocurrency payments. Then Ethereum developed a virtual machine for running decentralized apps. They have introduced cryptoidentity enabling people to build democratic governance on the Internet.

Cryptoidentity

Idena Cryptoidentity is your digitally verified avatar. It’s semi-unique which means you can easily validate one account, but it’s much harder to get two and impossible to get many accounts. It can not be bought and sold, its value grows with age, it can not be taken over. Anonymous and Sybil-resistant identity is a missing part for Web 3.0.

No authorities

Cryptoidentity is mutually verified by users with no central authority in the peer-to-peer network. It is anonymous, self-managed, and valid globally. Cryptoidentity has no central issuer, so it can not be banned, restricted or censored.

Equal human rights

All cryptoidentities in Idena have equal rights: to validate other identities, to vote, to verify transactions. Self-sovereign, decentralized and anonymous cryptoidentity prevents human rights abuse by the powerful, and supports the rights of the individual to be oneself and to freely associate.

Use cases

Democratic governance

Idena Coin 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

Idena mining coins is accessible for everyone who owns an average laptop with an Internet connection. All participants are empowered to maintain the network and earn equal mining 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 to Oracles to review their ads and then burn the coins to compete for the network attention, supporting sustainable economy of the network.

Technology

Sharding + Cryptoidentity = Scalability

Idena Coin 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 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, 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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