WorldcoinPrice

(WLD)

Worldcoin is a decentralized identity and financial network designed to provide a global solution for distinguishing humans from artificial intelligence. The project was co-founded by Sam Altman, who is also the CEO of OpenAI, along with Alex Blania and Max Novendstern. It is supported by the technology company Tools for Humanity and the non-profit Worldcoin Foundation. The primary mission of the project is to create a globally inclusive system owned by the majority of humanity. This is achieved through three core components: World ID, the Orb, and the World App. World ID is a privacy-preserving digital identity that serves as a digital passport. It allows individuals to prove they are a real and unique human online without revealing their personal real-world identity. This concept is known as Proof of Personhood. Verification for a World ID is performed by a custom biometric device called the Orb. The Orb scans a person's iris to ensure they are a unique human and have not already registered. Once the scan is processed, the device generates a unique code known as an Iris Hash, and the project claims that original biometric images are deleted by default to maintain user privacy. Users interact with the network through the World App, a mobile wallet that facilitates the creation of a World ID and enables transfers of digital assets. The native cryptocurrency of the ecosystem is the WLD token. This token is designed to align the interests of users with the growth of the network and is distributed to verified individuals as part of an effort to build a more equitable economy. The project has also discussed the long-term potential of using its infrastructure to support the distribution of a universal basic income in an era where AI might significantly impact the global labor market. Technologically, Worldcoin is built on the Ethereum blockchain. It originally utilized the Polygon network before migrating to the Optimism ecosystem to take advantage of its scalability. More recently, the project launched World Chain, a dedicated Layer 2 blockchain built using the Optimism software stack. World Chain is designed to prioritize transactions from verified humans over bots, offering faster confirmation times and reduced fees for individual users. Through these technologies, Worldcoin aims to build a public utility that empowers individuals in the digital age. Learn more

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