HOPR is a utility token on the Ethereum network, primarily designed for use within the HOPR decentralized platform. It facilitates private and secure online communication and data exchange by employing advanced encryption techniques and a peer-to-peer mixnet architecture.
HOPR operates by routing data packets through a mixnet on the Ethereum network, where they are handled by multiple nodes to obscure their origin and destination. It uses a "proof of relay" mechanism, different from traditional consensus algorithms, to incentivize node operators to accurately and efficiently relay data. The platform also uses the Sphinx packet format to ensure data packets appear uniform, preventing metadata leakage, along with probabilistic payments to manage transactions efficiently.
HOPR can be used for:
HOPR was founded by Sebastian Bürgel and Robert Kiel, evolving from their interaction with Binance team during EthCC in 2019. Funded by a $1 million seed round led by Binance Labs in 2020, HOPR launched its testnet and community support program soon after. It has since grown to over ten thousand Telegram members and developed significant partnerships in the Web3 ecosystem, leveraging its privacy-preserving network to address modern data transmission challenges.