Question 1

What is Idena (IDNA)?

Accepted Answer

Idena is a unique cryptocurrency that operates on its own blockchain. It stands out as the first proof-of-person blockchain, where each node is linked to an individual, ensuring equal voting power for every participant. This structure aims to address the blockchain oracle problem, as its independent mining nodes can function as oracles. Idena's approach to validation is distinct in that it doesn't require personal data; individuals simply need to demonstrate their uniqueness to participate. The currency, traded under the ticker IDNA, is currently listed on a few exchanges and has a market cap that places it in the global ranking of cryptocurrencies​​​​.

Question 2

What is Idena (IDNA) used for?

Accepted Answer

Idena's primary use is to enable a decentralized network of validated individuals, each contributing to the network's security and decision-making processes. The system rewards participants, with the annual yield and share of rewards being proportional to the stake held. Idena emphasizes the accessibility of its mining process, which is open to anyone with internet access who can pass a validation test. This democratization of mining participation is central to Idena's design, aiming to make blockchain technology more inclusive and to prevent domination by entities with significant financial or computational resources​​​​.

Question 3

Who created Idena (IDNA)?

Accepted Answer

Idena was co-founded by Andrew. In an interview, Andrew Edi explained that the initial goal of Idena was to create a blockchain that could be mined by every person on Earth without requiring any initial investment. This objective led to the development of the concept of 'cryptoidentity', a way to represent individuals on the blockchain anonymously and without personal data.