HOPR is bringing genuine privacy to web3 by implementing a fully scalable and incentivized mixnet. This platform ensures that any data shared does not expose associated metadata. Unlike some other systems, HOPR doesn't operate on its own blockchain; instead, node operators are rewarded with HOPR tokens on both the Gnosis Chain and the Ethereum mainnet.
Developers are empowered to create decentralized applications on the HOPR platform, which gives users control over who can access their online and personal data.
Launched in February 2021, the HOPR token's proceeds are managed by the HOPR DAO. The HOPR Association, a privately funded entity distinct from the DAO, oversees the development of the protocol.
What challenge is HOPR addressing?
Decentralized methods for digital services, finance, and data transfer are set to create a new landscape of freedom, fairness, and user autonomy. However, without privacy at the transport level, web3 may end up being less private than Web 2.0. This is because exposed metadata could be exploited for interception, manipulation, or censorship of users and services, even with the use of VPNs.
HOPR solves this by providing scalable privacy at the transport level, enabling the development of genuinely private, trustless, and secure applications for web3.
What sets HOPR apart from others?
While mixnets like Tor have been around for decades, HOPR has created the first mixnet that is both scalable and incentivized, making it possible to develop private decentralized apps at the scale necessary for web3.
This advancement is made possible through HOPR's proof-of-relay mechanism—a cryptographic system that rewards node operators after they successfully relay data, all without compromising their privacy.
Does HOPR offer an operational product?
In the first quarter of 2023, HOPR introduced RPCh, the inaugural commercial product utilizing the HOPR network. RPCh enhances the privacy of crypto wallets and DeFi by concealing all metadata related to RPC calls, including IP addresses.
RPCh is already integrated with the privacy-oriented BlockWallet, and additional wallet integrations are anticipated soon. This service can also be used with almost any wallet on any EVM chain with minimal effort required from the user.
How is the HOPR network safeguarded?
The security of the HOPR network is maintained through a cryptographic system known as proof-of-relay. This approach incentivizes a private mixnet, for the first time allowing node operators to earn HOPR tokens only after fulfilling their data mixing and relaying responsibilities.
The protocol is crafted in such a way that only the sender is aware of the details of their data and its journey through the HOPR mixnet.
How does HOPR's tokenomics work?
The HOPR token is based on the Ethereum blockchain and adheres to the ERC20 standard, which is the most prevalent and compatible framework for creating crypto tokens.
The token serves three primary purposes:
- Users can utilize HOPR tokens to send data through the network securely and privately.
- Node operators can earn HOPR tokens by correctly relaying data via the HOPR mixnet, thanks to the proof-of-relay mechanism.
- Holders of HOPR tokens are entitled to vote as part of the HOPR DAO.
Who are the individuals behind HOPR?
Sebastian Bürgel is the founder of HOPR and serves as the president of its Board. He graduated from ETH Zurich in 2008 with a degree in information technologies and electrical engineering, before completing a Ph.D. in biomedical engineering in 2010. Bürgel co-founded SONECT, an ATM as-a-service company, in 2016 and was its chief technology officer until 2017. Concurrently, he also held the CTO position at Validity Labs, providing education solutions through blockchain technology. In 2020, Bürgel left Validity Labs to embark on his latest blockchain venture, HOPR.
Rik Krieger is the Co-Founder of HOPR and heads the marketing team. With two decades of experience in business development across various companies, from large corporations to startups, he co-founded Sonect, a company recognized in the FinTech50 in 2019 alongside N26, Monzo, and Revolut. Krieger and the company have received numerous accolades, including honors from LendIt Fintech, the Banking Technology Awards, and the Digital Economy Award as the "Next Global Hot Thing 2019."
Where can one purchase HOPR (HOPR)?
Currently, the leading platform for trading HOPR is Uniswap v3.
