Worldcoin: everyting you need to know about WLD

What is Worldcoin?

Worldcoin is an iris biometric crypto project, developed by Tools for Humanity and founded in 2019 by Sam Altman, Max Novendstern, and Alex Blania. It aims to provide a reliable way to verify people online and is backed by VC Andreessen Horowitz.

How does Worldcoin work?

Worldcoin uses a unique method to determine "personhood" through an eye scan. This helps to prove that someone is a person and not a robot. The coin utilizes an Ethereum-based Layer 2 cryptocurrency that leverages the security of the Ethereum blockchain.

The WLD token

Worldcoin introduces a unique economic model with its WLD token. With a maximum supply of 10 billion WLD tokens, the design is focused on a broad and fair distribution of the tokens. Of this supply, 75% is specifically allocated to the Worldcoin community, emphasizing inclusivity and user engagement. This means that a significant portion of the tokens is directly available to individuals around the world, contributing to Worldcoin's goal of promoting a more united and equitable global economy. The remaining tokens are divided among developers, investors, and other key stakeholders, each segment having a specific role and responsibility within the ecosystem.

The technology behind WLD.

Worldcoin distinguishes itself through its technological infrastructure. The WLD token operates on Ethereum's Mainnet but utilizes the Optimism "Layer 2" network. This dual-chain mechanism provides a balance between the robust security of Ethereum and the higher speed and lower transaction costs of the Optimism network. By utilizing this layered approach, Worldcoin can operate more efficiently while maintaining the strong security features of Ethereum. This is particularly important given the sensitive nature of the biometric data processed by the project.

The Worldcoin ecosystem.

World ID: This component is at the core of the Worldcoin ecosystem and is a groundbreaking privacy-preserving global identity network. World ID enables users to prove their unique humanity online, which is essential in an era where digital identities and online security are central.

World App: This app is the primary interface for users to interact with the Worldcoin network. It is the first wallet app that supports the creation of a World ID, allowing users easy access to the ecosystem and the ability to manage their digital identity.

Orb: The Orb is an innovative, physical imaging device used to scan a user's unique iris, essential for verifying World IDs. This technology plays a crucial role in distinguishing real human users from bots or false identities.

Benefits of Worldcoin

• Innovation in Identity Verification: Worldcoin introduces an advanced approach to identity verification using biometrics, specifically iris scans. This provides a high level of accuracy and security.
• Fairer Distribution of Currency: By allocating a large portion of the tokens to the community, Worldcoin aims to achieve a more equal distribution of digital currency. This can contribute to economic inclusivity and global financial participation.

Disadvantages of Memecoin

• Privacy and Security Concerns: The reliance on biometric data, especially iris scans, raises important questions about privacy and data security. The way that this sensitive information is collected, stored, and used, is a major focus of attention.
• Criticism of Target Audience Approach: There has been criticism of Worldcoin for targeting lower-income communities to collect data. This practice has raised concerns about the ethical aspects of collecting biometric data from vulnerable groups.

Who is the founder of Memecoin?

Sam Altman, the most well-known co-founder, is a prominent figure in the world of technology. He is also the co-founder and current CEO of OpenAI and former president of Y Combinator. His involvement with Worldcoin highlights the project's ambition to be a major player in the world of cryptocurrency and technology. Together with co-founders Alex Blania and Max Novendstern, who left the project in July 2021, Altman has positioned Worldcoin as a forward-thinking and potentially influential initiative. The project has received significant investments from some of the most prominent venture capital companies, indicating the confidence and expectations of the financial community in the success and impact of Worldcoin.

Expectations for the near future

Experts expect a minimum price of €7.28 in 2026 and a minimum price of €24.07 in 2031.

Frequently asked questions