Worldcoin (WLD) Crypto
Worldcoin is a cryptocurrency venture co-founded by Sam Altman, the CEO of OpenAI, with the goal of establishing a comprehensive global financial and identity network. In more concrete terms, the project aims to distinguish between humans and computer programs in the age of AI. To do this, Worldcoin has developed a proof-of-personhood (PoP) mechanism to ascertain and verify a user's humanness and uniqueness.
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How Does Worldcoin (WLD) Work?
- 1. World ID: This is a unique digital identity assigned to each user. It's created using Worldcoin's Orb device, which conducts a secure iris scan to generate a distinct identification code. This process ensures that each individual has only one World ID, as it prevents duplicate entries in the system. The iris images are deleted after scanning to protect biometric data.
- 2. World App: Once a user has a World ID, they can use the World App. This application is designed for secure identity verification, leveraging the cryptographic security of the World ID. It's a key tool for accessing various services and applications within the Worldcoin ecosystem.
- 3. Worldcoin (WLD): This is the native cryptocurrency token of the Worldcoin ecosystem. It plays a central role in the ecosystem, facilitating transactions and incentivizing various stakeholders within the Worldcoin platform.
Worldcoin's brand is built upon these three core products: World ID, World App, and the Worldcoin (WLD) token. To broaden its reach and accessibility, Worldcoin Orbs, essential for creating World IDs, are strategically placed in major cities like Tokyo, Singapore, Mexico City, Paris, New York, San Francisco, and around 25 other locations globally.
Worldcoin (WLD) Trading
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About Worldcoin (WLD) Crypto
Why is Proof-of-Personhood important?
Proof-of-personhood is essential for maintaining the integrity and inclusivity of digital systems, especially in web3 where users' anonymity is more valued and preserved. By proving a user's humanness and uniqueness, proof-of-personhood (PoP) mechanisms helps prevent fraud, identity theft, and manipulation of systems by bots or other malicious actors. If a vast number of bot users had been created with malicious intent, they will not only worsen the user experience but also undermine trust in any system. Because of this, they pose significant risks to real human users' personal information and assets. Proof-of-personhood mechanisms, such as Worldcoin's Iris Code and World ID, safeguard against these threats and enhances trust and security within web3 ecosystems.
What is an "Orb" in Worldcoin?
The Orb is a proprietary iris-scanning and imaging device developed by Worldcoin. As the name suggests, it has the shape of spherical body. The function of the orb is to scan, capture your unique iris pattern and to transform the biometric image into digital information known as "IrisCode".
What is "World ID" in Worldcoin?
A unique World ID is generated after a new IrisCode has been entered into the Worldcoin databse. World ID functions akin to a "digital passport", enabling users to demonstrate their uniqueness and humanity while remaining anonymous. According to Worldcoin, this is achieved through zero-knowledge proofs (ZKP) and other privacy-preserving cryptographic techniques. World ID 2.0, which is a recent upgrade, will also allow a user to reset their World ID if their World ID has been lost or stolen. To invalidate the lost/stolen World ID and be issued a new and legitimate World ID, the user simply needs to reverify his or her IrisCode at the Orb.
What is Worldcoin (WLD)'s tokenomics?
Worldcoin (WLD) was launched on July 24, 2023 with a fixed supply cap of 10 billion WLD tokens for the first 15 years post-launch. Beyond 15 years, a maximum annual inflation rate of 1.5% might be introduced if the protocol's governance team deems it necessary. The token allocation of Worldcoin (WLD) is as follows: 75% for the Worldcoin Community, 9.8% for the Initial Development Team, 13.5% for Tools For Humanity (TFH) Investors, and 1.7% for TFH Reserve. It's worth noting that WLD is an ERC-20 token on both the Ethereum Mainnet and Optimism Mainnet, meaning users can transact with WLD in both of these flourishing ecosystems.
Is Worldcoin (WLD) token a good investment in 2024?
Worldcoin (WLD) token's soaring performance recently has attracted a lot of investors to its name. However, WLD has actually endured many quiet and lackluster days after launching in July 2023, as it struggled to gain momentum and mostly remained flat in value for almost five months. In mid-December, a glimmer of hope emerged when Worldcoin (WLD) experienced a small spike, briefly reaching $4.3. This uptick not only hinted at a slight revival of the crypto markets but also suggested potential synergies between AI and web3 technologies in the future. Nevertheless, despite this brief surge, Worldcoin faced a downward trajectory between December 2023 and February 2024. Then, in February this year, the AI narrative took a dramatic turn when it embarked on a significant and prolonged climb, reaching an all-time high on February 19th, 2024. This surge was accompanied by the growing number of AI-related tokens entering the market, indicating sustained deployment of capital and strong optimism in the AI sector. Supported by its iris-scanning "Orb" undergirding the project, Worldcoin (WLD) might continue to lead as a dark horse among AI tokens in the coming weeks. With its technological strength and community enthusiasm, Worldcoin (WLD) holds the potential to carve out a significant niche within the cryptocurrency landscape. That said, dramatic price ascends almost invariably come with a pull-back; investors must be aware of the volatility that inherently exists in the market and do your own research.
How to transfer Worldcoin (WLD) to other crypto wallets?
To transfer Worldcoin (WLD) from your Worldcoin Wallet to other crypto wallets or exchanges, simply: 1. Go to the Bitget Wallet homepage and select "Send". 2. Select either Ethereum or Optimism network and find WLD. 3. Input the recipient's address and the amount, and confirm the transaction. Remember, it's crucial to double-check the address and confirm network compatibility before completing the transfer process.