What is Privasea?
Developed by a fully remote global team, Privasea is paving the way for Web3 and AI to work in harmony.
Through its ImHuman app, Privasea asks users to scan their biometric data to prove they are human and create a unique NFT – over 200,000 people have done so so far. Privasea then uses this encrypted data to train the machine learning systems used in its AI network, rewarding contributors with airdrops of cryptocurrency and NFTs while ensuring data encryption and security.
Backed by Binance and OKX, and having recently raised $5 million in addition to a strategic round led by OKX Ventures earlier this year, Privasea launched WorkHeart Node and StarFuel NFT on July 10 to strengthen its ever-growing ecosystem.
What is a WorkHeart Node?
The WorkHeart Node is a physical USB device provided by Privasea.
These devices, sold for 0.2 ETH, will act as proof-of-work nodes on the Privasea network and will be the backbone of the DePIN architecture.
By operating a WorkHeart node, users collect reward emissions, which come in the form of fungible Privasea tokens, which can then be staked into StarFuel NFTs to increase the reward emission multiplier.
The higher the demand for Privasea, the more WorkHeart nodes will be required to run the network, and the more rewards will be offered to those node operators.
What are StarFuel NFTs?
StarFuel is a collection of 5,000 NFTs that Privasea first offered on July 10th.
Not only will StarFuel NFT holders be able to increase the release of rewards collected by WorkHeart node operators, but they will also receive a range of additional benefits, including participation in future airdrop campaigns, early access to future developments, and access to exclusive rewards and discounts.
Owners of both WorkHeart nodes and StarFuel NFTs will be able to generate testnet tokens for the Privasea ecosystem, which will be converted into mainnet rewards at a later date.
Why do we need Privasea?
With the recent emergence of AI and the associated major concerns around data privacy, Privasea’s AI DePIN Network provides a solution for training AI networks with high-value data without compromising data privacy or data security.
By performing encrypted machine learning inference and using secret datasets to enhance privacy and security, Privasea makes it possible to gain valuable insights from encrypted data instead of raw data, reducing risk and facilitating collaboration and knowledge sharing among stakeholders.
It has a wide range of applications across various industries, including securely sharing and using financial, medical, and biometric data for machine learning purposes, as well as analyzing encrypted datasets.
Privasea is currently evaluating their system through a testnet. With a privacy and security first approach, Privasea ensures that their ecosystem is safe and user-friendly, while allowing users to maintain full control and confidentiality of their data.
Through a combination of Proof-of-Work and Proof-of-Stake protocols, smart contracts, and tokens, Privasea aims to manage gas fees and staking methods in a secure, efficient, easily scalable and sustainable way.
