Human Protocol (HMT) Assessment

Crypto becomes human..... Learn about the most undervalued asset in crypto

What is HMT?: Human protocol is an gig economy marketplace that serves to answer questions and tasks posted by humans and AI and match them with human laborers to improve machine learning.

Use case: Human protocol with its AI data collection can serve a variety of use cases that include.

Improving existing products:  Human protocol’s Machine learning technology can be leveraged to improving existing products. For example if users are required to complete a task that requires them to identify different types of dogs that data can then be potentially used to improve accident avoidance in self driving autonomous vehicles, as the sensors would be able to quickly identify a dog in the road and stop the vehicle.

Marketing: Another potential use case of Human protocol is improving existing marketing. For example you can have users identify what classifies as a short sleeve shirt in America and then have those same responses be used in a different part of the world such as the Middle East to where cultural and religious norms may affect the definition of a short sleeve shirt. Those differences in responses between the two countries can be used to tailor personalized marketing to those countries.

Eliminating bot fraud: Human protocol’s can be used to eliminate bot fraud as their proof of humanity technology can be used to identify human users vs computer bots. Which can potentially then be used to prevent and delete bot comments on websites and moderate the amount of traffic that goes through a website which otherwise might become a victim of a distributed denial of service (DDOS) attack.

Limited biased data: Data collection can be subjected to unknown biases which include selection bias, sampling bias,measurement bias, and confounding variables. Luckily human protocol solves each of these issues.

-Selection bias: Selection bias is when the participant demographic does not match the the target audience that is intended to be studied. Selection bias can also manifest as sampling bias which is when the participant demographic auto selects as another demographic that is not being studied, such as trying to get feedback on what is preferred between beef and pork but the data is collected from a Muslim country which due to their religious beliefs will always answer beef.

How does human protocol solve this? Human protocol gives the research provider tools to specify their target demographic which results in precision of the study, as well as distributing the task between the 15% of the internet that is currently using the human protocol which results in randomness of the study.

-Measurement bias: Is when a question is framed with ambiguous non-binary language which may potentially taint the data collected. For example asking if Wally is in this photo vs asking click on all the photos that contain Wally. These two questions are similar but not exact as the former is asking a binary question in which there may not be a Wally to be found in the photo while the latter relies on the participants ability to identify Wally which does not leave the possibility of Wally just not being in the photo at all.

How does human protocol solve this? Human protocol phrases the question in both ways to broaden the consensus of responses and magnify discrepancies.

-Confounding variable: Is an unaccounted for variable which effects the causation theory of a relationship. For example assuming that an increase in search results for Blockchain automatically translate to an increase in search results for Bitcoin as their is multiple different blockchains and Dlts (distributed ledger technologies)

How does human protocol solve this? Human protocol allows the research provider to specify their respondents as well as the recording oracle creating a real time assessment of the quality of answers in relation to the foundational responses the research provider set initially which if the foundation accounts for confounding variables they will be flagged.

Monetization of Effort/Job: Human protocol allows participants to get paid for their responses/data immediately after completing a task which is uncommon currently in Web 2.0 as responses to surveys offers no consistent monetary rewards to the participants.

Innovations

Recording oracle: Is an oracle that judges responses to a task that it compares to other correct answers of the task which is determined from the correct foundational initial answers that were provided by the research provider as such outliers can then be flagged as poor quality and answers that match the general consensus are flagged as high quality “Truthful” answers.

Reputation oracle: Is an oracle that judges the responses from a recording oracle that does a final evaluation of answer quality if the answers are found high enough on the  “Truthful scale” and matches the specific parameters that were set in the smart contract hmt token is then released as payment.

Hcapchta: Is human protocols flagship and most widely used yet widely unknown dapp which is currently being utilized by 15% of the websites on the internet including but not limited to the Canadian government, Rakuten, Gartner, Cloudflare, Discord,Craigslist, and blockchain exchanges. Not only that the network has also been transacted on more in their testnet in 2020 than MakerDao has transacted in the past 5 years. Recently cloudflare has abandoned Google’s Recapchta for human protocols hcapchta stating the reasons for being so that include high costs from googles to utilize the service, privacy concerns and the flexibility and personalization of Hcapchta had over recapchta as well as a better user experience for visually challenged users and ability to operate in regions where recapchta was blocked due to a ban on Google services in other countries.

Proof of balance and value: Is by which the protocol determines priority for tasks assigned to them. Which may open up opportunities to generate more revenue. For example if User 1 has 1000 hmt tokens in their wallet and User 2 has 10 hmt tokens in their wallet User 1 will get the ability to choose between two tasks if they are similar.

Proof of humanity: Is by which the protocol determines whether a user is a human or computer. It does this by leveraging its recording and reputation oracle system to generate a score to a user. This system has also been integrated with MetaMask to provide Dapp developers with the ability to detect real users interacting with their platforms and smart contracts. You can read more here https://www.humanprotocol.org/blog/how-to-proof-of-humanity?lng=en-US

Work in progress

Human protocol intends to create a wallet with single sign on capabilities for hmt power Dapps similar to sign in with Google,Facebook, etc as well as allowing atomic swaps to transfer assets between hmt supported chains and validator staking for those who hold the token.

Tokenomics: Hmt is the native utility asset of the protocol in which all aspects powered by the protocol are required to utilize hmt for research providers that means to get their task listed they must provide the smart contract with hmt. As for the websites and workers using the protocol they are compensated in hmt as well as node operators on the network.

Supported networks

Partners: Elrond,Moonbeam,Skale,Ethereum,Polkadot,Chainlink,Zillqa, and Algorand

Investors: Borderless capital,Hashed

Conclusion: In conclusion I think Human protocol is the most undervalued asset in the entire crypto industry. When you factor in the mass adoption of their Dapp Hcapchta  which is a standalone product that most people interact with on the internet but without them knowing it’s blockchain based, is insanely bullish I think it is only up from here. As I expect human protocol to continue its rapid adoption rate over time and take more and more market share from other capchta solutions as well as their proof of humanity technology for Dapp developers opens up an entirely new can of worms that I think will be reflected in the token price overtime.