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ETHEREUM LIQUID RESTAKING PROTOCOL JOINS HOLONYM FOUNDATION TO ENHANCE HUMAN
KEYS’ SECURITY

by Rubmar Garcia
48 mins ago
in Crypto News
0


Holonym Foundation partnered with Renzo Protocol, an Ethereum Liquid Restaking
Protocol, to strengthen the Mishti network’s security and the company’s Digital
Identity Solution: Human Keys.

Related Reading: Number Of Ethereum Whales Holding 10,000 ETH Down By 7% —
Implication For Price?


ETHEREUM LIQUID RESTAKING PROTOCOL JOINS HOLONYM FOUNDATION

The Holonym Foundation, which focuses on Digital Identity Solutions, revealed
its collaboration with Renzo Protocol. The liquid restaking protocol will
restake $800 million worth of ezETH to enhance the security of Holonym’s Mishti
Network.



The protocol will use Ethereum and EigenLayer’s infrastructure and node
operators to support Mitshti Network’s secure creation of Human Keys, Holonym’s
digital identity solution. The partnership will allow users to generate keys
using biometrics or social media accounts while ensuring flexibility and
security.

Nanak Nihal Khalsa, one of Holonym Foundation co-founders, highlighted that the
collaboration aims to make their product more accessible to users: “By
integrating with the Renzo Protocol, we’re strengthening the security of our
Mishti Network, making Human Keys more accessible than ever.”

Holonym’s Mishti Network, which launched earlier this year, is the decentralized
chain for Human Keys, set to enable its users to “create secure, high-entropy,
zero-knowledge private keys based on human attributes,” making the process of
creating, recovering, and using a crypto wallet simple with any blockchain.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?


Shady El Damaty, co-founder of the Holonym Foundation, emphasized that users
won’t need centralized entities to operate and safeguard their keys with Mishti
Network. “All the standard human-centric authentication styles like passwords,
security questions, accounts, and faceID can become decentralized without the
dependence on any third party like Apple or Google,” he stated.


HOLONYM’S DIGITAL IDENTITY SOLUTION

Holonym Foundation developed its infrastructure to allow users worldwide to
create Human Keys with its Mishti Network, aiming to “streamline the crypto
wallet experience” and make it accessible to newcomers and seasoned blockchain
users.



El Damaty also stated that Human Keys are how the company scales the benefits of
crypto to consumers worldwide, taking advantage of zero-knowledge (ZK)
technology and the economic security of Ethereum:

> Human Keys are how we scale the benefits of crypto – security, privacy, data
> ownership – to global consumers. We do this by catering to the human behind
> the technology, making it easy for anyone to create a universal account that
> is usable across devices, doesn’t need an app, and is built on privacy secured
> by zero knowledge technology and the economic security of Ethereum.

Related Reading: Ethereum: New EIP Could Enhance Layer 1 Speed By 33%

The company’s digital identity solution aims to offer a decentralized solution
that allows users to create, recover, and manage secure cryptographic keys that
don’t rely on a centralized party or expose the users’ data.

To achieve this, the keys assume zero trust security in the decentralized
network, which is required to generate them, protecting users’ personal
information from being exposed. As El Damaty explained:

> The OPRF derivation unlocks private homomorphic computation on encrypted
> biometric data, allowing untrusted third-parties to authenticate users without
> ever seeing the underlying data. This ushers in new use cases that were never
> possible before.

Ultimately, Security and safeguarding users’ privacy continue to be debated
within the industry, with figures like Ethereum’s founder Vitalik Buterin
vouching for “Public DeFi, but private wallets.”



Ehtereum (ETH) is trading at $2,430 in the five-day chart. Source: ETHUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

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RUBMAR GARCIA

Rubmar is a crypto enthusiast who likes learning and improving constantly. She
enjoys reporting on the latest news and developments in the crypto industry.
Rubmar also enjoys scrapbooking, crafting, simulation games, and watching
football.




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