The Swiss data privacy startup named HOPR is looking to launch its first public testnet shortly after it secured $1 million with many big backers including Binance. HOPR was featured in the cryptonews, saying that the startup is preparing to launch the testnet and community support program on July 16. The event will feature rewards in MakerDAO’s stablecoin DAI (DAI).
If you read our Binance news before, you know that the HOPR project was launched as a response to the increasing concerns over online data privacy. The Swiss company develops open-source tools for the Web 3 ecosystem and offers a new blockchain protocol for protecting user data.
Founded earlier in 2020, HOPR came under the spotlight of the crypto community last week when Binance led a $1 million investment in the project. The exchange announced the news on July 9, when it called the Swiss data privacy startup HOPR the “first-ever open incentivized privacy and data protection platform.”
It seems like the excitement of Binance will follow with a HOPR token sale at some point in the near future. However, nothing is official yet besides comments from the co-founder of HOPR, Sebastian Burgel. He told the media outlet that the project is planning a mainnet release later in 2020. According to him, the Binance investment triggered a lot of interest in their product.
“Our waitlist exceeded 400 people, which was way over our early expectations,” he noted.
Meanwhile, there are numerous rewards for running privacy nodes for Web 3. As we can see, the privacy-focused network allows users to run HOPR nodes as well as stake and get rewards with HOPR tokens while providing privacy for Web 3. As such, it relies on a global distributed network of mixed nodes, providing layer-0 privacy for new blockchains as well as Web 3 blockchains as the co-founder of the Swiss data privacy startup noted:
“HOPR is not running a dedicated blockchain. Instead, HOPR can be used as layer-0 privacy foundation on top of which blockchains or other web and web 3 applications and services can be built. HOPR is the first open and incentivized mixnet in which anyone can run a node to provide privacy for others and earn tokens for doing so.”
As concerns over digital privacy are escalating in recent years, the crypto community is building solutions to protect user privacy online.
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