General information about the project
Worldcoin is a protocol capable of identifying the user and transactions. In the first case, he uses a special device called an orb. It performs a scan of the iris of the eye.
The protocol is developed by the Tools of Humanity organization. Its founders are Sam Altman and Alex Blania. The first is headed by OpenAI, a well-known company that released the ChatGPT artificial intelligence. Blania heads the organization directly.
In the future, the rights to the brand will be transferred to the Worldcoin Foundation. This company is a non-profit. It is registered in the Cayman Islands. At the same time, it has a branch in the British Virgin Islands. The foundation's task will be to support the ecosystem and cooperate with the main company, as well as other developers. This will happen both directly and through the provision of grants.
World ID and Orb devices
User identification is carried out through the World ID. The Proof-of-Personhood protocol is involved here — proof of reality and uniqueness. During identification, the user remains anonymous.
The point is that the future participant of the crypto network should install a special application — the World App. After that, you need to visit the World ID center. At the moment, it is available in only 35 cities around the world. Expansion is planned in the future.
The user scans the iris of the eye through the orb device. After that, its identification is generated — Iris Code. It is a random set of numbers that have no connection with the personal data of users.
World ID gives you the opportunity to:
- Protect the social network from bots. Also here you can use a cryptoproject to determine the identity.
- Conduct voting in decentralized autonomous organizations and polls.
- Protect trading platforms from fraudulent actions and fake reviews.
- Distribute allowances, scholarships, state aid and airdrops.
Currently, identification devices are located in countries such as Argentina, India, Spain, Kenya, Portugal and Chile. The work is provided with the help of project operators. They are local companies that have "orbs". They can also advise on crypto projects, get a World ID and provide rewards. They are provided for the passage of identification. Accrual occurs both in a stable coin and fiat.
By the end of the year, operators will appear in other states. Now the company's team visits various cities around the world, agreeing on the placement of their devices. The opening is planned in Germany, the United Arab Emirates, the United Kingdom, the United States, South Korea, and Japan. Detailed information about this will be provided on Twitter and Discord.
Why the iris of the eye?
Most people, when it comes to identity identification, think about fingerprints. However, when it comes to billions of users, this option is not suitable, as is facial recognition. This statement was made by the project team.
They refer to a Cambridge University study. It says that the iris code contains about 200 bits of entropy. This indicator is much higher than the same in fingerprints.
At the same time, the recognition of the iris of the eye exceeds 4 orders of magnitude of facial recognition. The value is more than 10 thousand times. In addition, the texture of the iris remains virtually unchanged at all stages of human life.
WLD Coin from Worldcoin
The other day it became known that the project has released its own WLD token. The coin is implemented for 2 million participants of the World ID beta testing. They can be used to perform operations in the blockchain.
At the moment, the listing of WorldCoin coins was carried out by such cryptocurrency exchanges as:
In total, there are more than 10 cryptocurrency platforms that have included the coin in the listing.
On Huobi and ByBit, the coin is already used in deposit and trading operations. Output is already available on ByBit from today, as well as on OKX. The latter also stated that it conducts operations to replenish deposits through Worldcoin tokens. Binance connected to them. Starting today, you can withdraw a coin. Trading operations with it on the largest exchange are launched in tandem with bitcoin and the stable USDT coin.
According to CoinMarketCap, the coin is trading at a price of 0.0149 USD. The growth in the last 24 hours was 20.2%. The market capitalization is $2.36 million.
Worlcoin can be bought at all of the above sites. To do this, it is enough to have an account there and a replenished account. Bidding is actively underway.