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.
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.
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.
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