Hopr (HOPR)

Privacy and Data Protection

Hopr provides a decentralized, privacy-focused network that hides metadata like IP addresses. This makes it impossible to track who is communicating or what data is being sent, protecting user privacy beyond just encrypting the content.

Secure Application Networking

Hopr enables ultra-secure, on-demand connections between cloud workloads, APIs, and data across different organizations and locations. It uses automated moving target defense (AMTD) to prevent cyber attacks by frequently rotating credentials and verifying trust at every communication session.

Use in Various Industries

Hopr is used in financial services, healthcare IT, IoT, and other sectors to ensure secure data transfer, protect endpoints from malware, and maintain data privacy and integrity.

Decentralized Incentivized Mixnet

Hopr runs a network where participants can operate nodes and earn tokens by helping route data privately and securely, supporting a sustainable and decentralized privacy infrastructure.

For more details, visit hopr.co.

Pros

• Provides strong privacy by obscuring metadata and IP addresses through a decentralized, incentivized mixnet.
• Uses a proof-of-relay mechanism that rewards node operators only after successfully relaying data, encouraging network participation.
• Enables truly private, trustless, and secure applications for Web3, including private RPC calls for crypto wallets and DeFi.
• Governed by a decentralized autonomous organization (DAO), giving token holders voting power and community control.
• Supported by investments from notable crypto ecosystems like GnosisDAO, aiming to develop privacy-focused products such as VPNs.
• Built on Ethereum as an ERC-20 token, ensuring wide compatibility and interoperability.
• Offers opportunities to earn tokens by running nodes and staking.

Cons

• Relatively low market dominance and trading volume compared to major cryptocurrencies.
• Not as widely available on all exchanges, though it is listed on platforms like Coinbase, MEXC, and Gate.io.
• Price can be volatile with significant daily fluctuations and a wide trading range.
• Faces intense competition from other privacy-focused crypto projects.
• Market sentiment and external factors like regulations can heavily influence its price.
• Technical complexity may limit adoption among casual users.

Overall, Hopr focuses on privacy and incentivized participation but operates in a competitive and volatile market environment.

Founders of Hopr

• Sebastian Bürgel: A blockchain pioneer and cryptographer with a background in computer science. He is the founder and president of the Hopr Board.
• Rik Krieger: Co-founder and head of marketing, known for his entrepreneurial experience and involvement in fintech.
• Robert Kiel: Co-founder and cryptographer with expertise in blockchain-based cryptographic schemes.

These three co-founders started Hopr to build a privacy-focused blockchain project.

Investors in Hopr

• Binance Labs: Led a strategic $1 million investment round.
• Focus Labs, Spark Digital Capital, Caballeros Capital, Synaitken: Participated in the Binance Labs-led round.
• Dusk: A financial services investor involved in multiple funding rounds.
• Edge & Node: Another key investor supporting Hopr.
• ZMT Capital and AU21 Capital: Institutional investors backing Hopr.
• TEDCO: Provided funding twice, including a $500K investment to support product development.
• Web3 Foundation: Participated in a grant funding round.

Hopr has raised funding from about 12 investors over several rounds, totaling around $2 million, including grants and private investments.

Halal Status of Hopr

• Yes, Hopr is generally considered halal.
• This is because its revenue model is based on providing legitimate services where node operators earn tokens for relaying data, which aligns with Islamic principles of fair exchange of value.
• The staking mechanism in Hopr does not involve interest (riba) but represents participation in network security, which is acceptable under Islamic finance rules.
• Overall, Hopr’s design and use case comply with key Shariah principles, making it permissible for Muslim investors.