What is Worldcoin: getting to know the cryptocurrency project
The project is a protocol capable of identifying identity and financial transactions. User identification is carried out by scanning the retina of the eye. For this purpose, the biometric device "Orb" is used. Upon verification, the user is credited with 25 protocol tokens.
The development was carried out by Tools of Humanity. The creators are Sam Altman (who launched OpenAI) and SEO TFH — Alex Blania.
The protocol uses three key elements:
- World ID. It is a digital identifier that allows you to solve tasks that require proof of the reality and uniqueness of the user.
- World App is an application that allows you to buy and conduct global transactions using both cryptocurrencies and fiat.
- Worldcoin (WRD) is a token that allows voting on the further development of the crypto project. Coins are credited after passing the verification procedure.
At the moment, the project is beta-tested. It is designed to:
- Protect users from bots. It also eliminates the need for identity verification in social networks.
- Conducting and participating in voting in the DAO and polls.
- Protect users from fraudulent actions and false reviews on trading platforms.
- Distribution of any financial assistance or airdrop.
By the time of publication, the project is working in Argentina, Chile, India and several other countries. To do this, the project operators are running there. They are local organizations that have orbs for verification. By the end of this year, the project is going to expand in other countries. It is already known that he will work in Germany.
Worlcoin Partnership with Auth0
Today it became known about the launch of the protocol in Germany. Here he will also be able to identify the identity of users and conduct financial transactions.
The initiative was implemented within the framework of cooperation with the Auth0 platform, which belongs to Okta. The latter deals with user authentication and authorization.
German citizens can now use WorlCoin ID and the ability to Log in with Worldcoin. The implementation of Auth0 has become a large-scale embodiment of the latter.
Note that Logging in with Worldcoin resembles the usual authorization in social networks. It provides access to several sites simultaneously using a single account.
Thanks to the integration of Auth0, thousands of applications that use the platform began to support logging in via Worldcoin.
The head of the product division of the company that launched the project said that Sign in Worldcoin will be used to provide secure and confidential access to various sites. At the same time, the tool will not allow fraud and the work of various bots.
There will be higher privacy for users, since a zero-disclosure proof will be generated during login on a smartphone or PC. It will confirm the user's identity without actually disclosing personal information. This minimizes the risk of fraud and bot activity.
As an example, the head pointed to an application that requires logging in through a tool to buy concert tickets. By confirming their identity, the musicians can be sure that the tickets will be bought by real fans, not bots or aggregators.
