What is Privasea?
Developed by a fully-remote global team, Privasea is creating a path for web3 and AI to work in harmony.
Through their ImHuman app, Privasea asks users to prove their humanity by scanning their biometric data to mint a unique NFT – with over 200,000 individuals doing so to date. Privasea then use this encrypted data to train the machine learning systems used by AI networks, rewarding the contributor with crypto and NFT airdrops whilst ensuring their data remains encrypted and secure.
Backed by Binance and OKX, and following a recent $5M USD raise – on top of a strategic round led by OKX Ventures earlier this year – Privasea launched their WorkHeart nodes and StarFuel NFTs on July 10 to bolster their growing ecosystem.
What are WorkHeart nodes?
WorkHeart nodes are physical USB devices offered by Privasea.
Priced at 0.2 ETH, these devices act as proof-of-work nodes for the Privasea network, and are the backbone of its DePIN architecture.
By operating a WorkHeart node, users gather reward emissions. These come in the form of fungible Privasea tokens – which can then be staked into StarFuel NFTs to increase the multiplier on their reward emissions.
The more demand there is for Privasea, the more WorkHeart nodes will be required to run the network – and the more rewards will be on offer for those node operators.
What are StarFuel NFTs?
StarFuel is a 5,000-piece NFT collection, initially offered by Privasea on July 10.
On top of being able to multiply the reward emissions gathered by WorkHeart node operators, StarFuel NFT holders also receive a variety of additional benefits, including inclusivity in future airdrop campaigns, early access to future developments, and access to exclusive rewards and discounts.
Those that own both a WorkHeart node and a StarFuel NFT have the ability to produce testnet tokens for the Privasea ecosystem, with the implication that these will convert into mainnet rewards at a later date.
Why is Privasea necessary?
With the advent of AI in recent years – and with it major concerns about data privacy – Privasea’s AI DePIN network offers a solution for AI networks to train on value-rich data without compromising data privacy or data security.
By performing encrypted machine learning inferences, and through the use of secret datasets to enhance privacy and security, Privasea enables valuable insights to be gained from encrypted, rather than raw, data, reducing risk and promoting collaboration and knowledge-sharing between parties.
This has a wide variety of applications in several industries, including the safe sharing and use of financial data, healthcare data and biometric data for machine learning purposes, as well as analysis of encrypted sets of that data.
Privasea are currently evaluating their systems through their testnet. With a privacy and security-first approach, Privasea are ensuring that their ecosystem is secure and user-friendly, whilst making sure that users retain full control and confidentiality of their data.
Through a combination of Proof-of-Work and Proof-of-Stake protocols, smart contracts and tokens, Privasea looks to manage gas fees and staking methods in a sustainable way that’s both secure, efficient, and can scale with ease.
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