Bitfinex announced today listing of HUMAN Token (HMT) which serves as the medium of exchange which will be used to power the decentralized labor markets built on the HUMAN Protocol. Deposits for HMT on Bitfinex will open on October 27, while Trading of HMT with USD and USDT pairs on Bitfinex will go live on October 28.
HUMAN Protocol, a decentralized solution for organizing, evaluating and compensating entities for performing Human Intelligence Tasks (HITs), oversees HMT – which are said to be EIP20-compatible tokens. HMT developers summarize the protocol:
The Human Protocol uniquely tokenizes human labor, enabling one person to request work, another person to do the work, and a third party to decide if the work fulfills the request and issue payment.
Human Protocol’s first decentralized application, hCaptcha, is a bot blocking system, which is the technology many websites use to check whether the traffic they are receiving is really human and not bots. It is an alternative to normal reCaptchas which further helps websites avoid DoS attacks. Upon its launch early this month, hCaptcha had blocked 10 million requests per second from bots; the tool had been launched in stealth mode for some time.
Human Protocol is an open-source project and according to its developers, the team has been writing code since mid-2017. COO at Human Protocol Foundation, James Roy Poulter said:
It [HMT’s listing] marks a significant milestone for HUMAN and provides us an opportunity to expand our community.
However, the protocol is used by 10% of the internet, like Coinbase, Bitfinex, FTX, and other noncrypto websites such as the Canadian government, Rakuten, Cloudflare, Gartner, Craigslist and many more.
According to a release shared with AMBCrypto today, Bitfinex will be the primary exchange platform which will enable the trading of HMT. Spot markets for the HMT token will open on Bitfinex for trading with HMT-USD and HMT-USDt trading pairs.
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