Holonym

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Frequently asked questions

What is a Holo?

A Holo is a holistic identity that allows individuals to prove facts about themselves without revealing their true identity. It is created by minting a Holo using a government ID, and it can be used to privately verify personal information without relying on a third party to hold the data. The privacy of the information is ensured through the use of zero knowledge proofs, which prevent anyone, including the creators of Holo, from linking the information with the user's wallet address. Holo serves as a ZK Passport for Web3, providing fully decentralized, private, and anonymous access to features such as fair airdrops, anonymous voting, and wallet recovery.

Why is privacy on a public blockchain hard?

Privacy on a public blockchain is hard because the nature of a public blockchain is to be transparent and open to all participants. This means that all transactions and data stored on the blockchain are visible to anyone who has access to it. While this transparency is beneficial for ensuring trust and accountability in the network, it also poses challenges for privacy.

In a public blockchain, all transactions are recorded on the blockchain and are visible to anyone. This means that if personal information is included in a transaction, it becomes publicly accessible. Additionally, blockchain data is immutable, meaning that once information is recorded on the blockchain, it cannot be easily modified or removed. This can be problematic if sensitive or private information is accidentally or maliciously included in a transaction.

To address these challenges, various techniques can be used to enhance privacy on public blockchains. One such technique is the use of zero-knowledge proofs (ZKPs). ZKPs allow for the verification of certain facts or statements without revealing the underlying data or information. This means that individuals can prove facts about themselves without disclosing their personal information on the blockchain.

How does Holo work?

Holo is a system that allows individuals to prove facts about themselves without revealing their identity. It addresses the challenge of privacy on a public blockchain by avoiding the need to give data to centralized custodians, which can compromise privacy and security. To use Holo, individuals mint a Holo using their government ID, which can then be used to privately verify information about themselves without another party holding their personal information. This is achieved through the use of zero knowledge proofs (ZKPs), which keep the information private and unlinkable to the individual's wallet address. Holo serves as a ZK Passport for Web3, enabling users to access fair airdrops, vote anonymously, and recover their wallet if they lose their keys. The system is fully decentralized, private, and anonymous, and its operation is detailed in a whitepaper.

How is user information kept private?

User information is kept private through the use of zero knowledge proofs (ZK proofs) in the Holo system. When a user mints a Holo using their government ID, they can use it to privately verify facts about themselves without another party holding their information. The Holo system ensures that nobody, including Holo themselves, can link the user's information with their wallet address. This allows for fully decentralized, private, and anonymous transactions and interactions on the Web3 platform.

What are the use cases for Holonym?

The use cases for Holonym include compliance without sacrificing Web3 values, access gating by country without violating privacy, proof of non-structured transactions without requiring KYC, custom proofs such as accredited investor status or allowlist of countries, sybil resistance through government IDs, reducing bots in airdrop farming and play-to-earn activities, decentralized wallet recovery, and providing a ZK Passport for Web3 that allows users to access fair airdrops, vote anonymously, and recover their wallets if they lose their keys.

How does Holonym provide Sybil resistance?

Holonym provides Sybil resistance by utilizing government-grade Sybil resistance through private zero-knowledge (ZK) proofs. Users can mint a Holo using their government ID, which allows them to privately verify facts about themselves without another party holding their information. The use of ZK proofs ensures that the user's information is kept private and cannot be linked with their wallet address, providing strong Sybil resistance.

What are the benefits of decentralized wallet recovery?

Decentralized wallet recovery offers several benefits. Firstly, it provides users with the ability to recover their wallets if they lose their keys. This is crucial as losing access to a wallet can result in the permanent loss of funds and assets. With decentralized wallet recovery, users can regain access to their wallets and retrieve their assets.

Secondly, decentralized wallet recovery is secured by zero-knowledge proofs (ZKP). Zero-knowledge proofs allow for the verification of information without revealing the actual data. This ensures that the recovery process is private and anonymous, protecting the user's identity and sensitive information.

Furthermore, decentralized wallet recovery is fully decentralized, meaning that it is not controlled by any central authority or third party. This enhances security and eliminates the risk of a single point of failure. Users have full control over their wallets and can recover them independently without relying on any external entity.

Overall, decentralized wallet recovery provides a secure, private, and user-controlled solution for regaining access to wallets in the event of key loss.