A Guide to Worldcoin – All You Need to Know About the Iris-Scanning Cryptocurrency Project
Over the past few months, Worldcoin has been making headlines, with many wondering what the crypto project is all about. Are you one of them? Well, stick around. In this article, We will explain everything you need to know about Worldcoin.
Exploring Worldcoin
Worldcoin aims to grant users unique digital identities by simply scanning their irises. This means the project does not collect personal information, thus assuring users of security and privacy.
Since its launch, Worldcoin has been looking to create a worldwide network of individuals with digital identities. Statistics displayed on the project’s official website show that over 2.2 million people have undergone the iris-scanning process and received their digital identities.
So, what does Worldcoin use to scan people’s irises? The answer to this question is orbs. These gadgets are available in over 25 cities across the world.
Try GPT Definity AI today, the #1 crypto trading robot! Click here to learn more. Artificial intelligence trading robots are taking over the trading eco-system, you can join this revolution and profit from daily revenues! Get ahead of the trading game with Artificial Intelligence crypto trading software today!
All users who are willing to have their irises scanned receive some WLD, the native token of Worldcoin.
Major Components of Worldcoin
World App
This app stores users’ digital identities. In addition, you can use it to hold a number of crypto assets like WLD, Bitcoin, and Ethereum.
World ID
Every user who completes the iris-scanning process receives a World ID to represent their digital identity. Each has a unique identification code that the orbs generate.
Proof of Personhood
Proof of Personhood is a concept designed to verify the authenticity of a Worldcoin user using orbs and the World ID. It helps to distinguish between real human beings and artificially generated personas.
UBI (Universal Basic Income)
One of Worldcoin’s broader goals is to implement its UBI concept, where all citizens are given a particular sum of money on a regular basis through its partnership with the governments. Worldcoin is optimistic that its native token, WLD, can help implement the Universal Basic Income concept.
Who are the founders of Worldcoin?
Worldcoin is the brainchild of Sam Altman, the co-founder of artificial intelligence-focused company OpenAI. He partnered with prominent philosopher Alex Blania to develop the project. Altman is Wolrdcoin’s Chairman and Blania takes the CEO position.
The two have so far convinced a number of investors like Andreessen Horowitz to inject funds into Worldcoin. In August, they announced that they had secured more than $90 in funding.
How Worldcoin Works
Do you wish to be part of Worldcoin? Here is how to get started:
Download and Install the World App
The World App is available on reliable app stores like App Store and Play Store. You can download it from any of the two stores, depending on your phone’s operating system. After downloading it, create an account by providing your valid email and password. Once you get access to your account, you can use the app to store the supported cryptocurrencies.
Register for a World ID
You can register for a World ID in the World App. After doing so, Worldcoin will show the nearest orb operator. Visit them to scan your iris so you can get a World ID.
Receive Free WLD Tokens
Once you become a verified Wordcoin user, you will receive 25 WLD tokens, which can be cashed out at any time.
Worldcoin and Regulations
Several regulators from various countries have expressed concerns over Wolrdcoin’s operations, with some announcing plans to investigate the crypto project. For example, the Bavarian Data Protection Authority revealed in August that it had launched investigations into Worldcoin to find out how the project was using the collected data.
The WLD Token
WLD lives on the Ethereum blockchain. Various exchanges, including Binance, KuCoin, and OKX list it. According to data from CoinGecko, the token is valued at $1.73, with a market cap of $233 million as of this writing. WLD’s maximum supply stands at 10 billion tokens, with 132.6 million already circulating.
According to WLD’s tokenomics, 75% of the maximum supply will be distributed to Worldcoin users, while 16% and 9% will be allocated to investors and project developers, respectively.
Disclaimer: Mining Plus Crypto specializes in amplifying content for dozens of cryptocurrency and blockchain firms, and your company could be next on the list! For inquiries, please reach out to us through or Telegram Chat. Given the unpredictable nature of cryptocurrencies, we advise you to thoroughly research before investing. A portion of the content available on our website, including broker reviews, is paid content or content contributed by guest writers and does not necessarily represent the opinions of Mining Plus Crypto. We claim no liability for the accuracy, quality, and content of advertisements, products, or any other materials, including ad spaces displayed on our site. For a comprehensive understanding, please review our full terms and conditions, and disclaimer.
