Worldcoin (WLD) is a cryptocurrency initiative co-founded by OpenAI CEO Sam Altman, aiming to establish a global financial and identity network. Its core mission is to distinguish humans from AI-driven bots in the digital age through a Proof-of-Personhood (PoP) mechanism, ensuring each user’s uniqueness and authenticity.
How Does Worldcoin (WLD) Work?
1. World ID
A unique digital identity assigned to users via Worldcoin’s Orb, a proprietary iris-scanning device. The Orb captures iris patterns to generate an IrisCode, then deletes the scan to protect biometric data. This ensures one World ID per person, preventing duplicates.
2. World App
A secure application for identity verification and access to Worldcoin’s ecosystem. It leverages zero-knowledge proofs (ZKPs) to validate users anonymously.
3. WLD Token
The native cryptocurrency facilitating transactions and incentivizing participation in the Worldcoin platform.
👉 Discover how to buy WLD securely
Why Is Proof-of-Personhood Crucial?
In web3, where anonymity is prized, PoP mechanisms like World ID combat:
– Fraud and identity theft.
– Bot-driven manipulation of systems.
– Trust erosion in digital platforms.
By verifying humanity, Worldcoin enhances security and inclusivity in decentralized ecosystems.
Key Components of Worldcoin
The Orb
A spherical device that scans irises to create IrisCodes. Deployed in major cities (e.g., Tokyo, New York, Paris), Orbs enable scalable identity verification.
World ID 2.0
An upgraded “digital passport” allowing ID recovery via re-verification if lost/stolen. Uses privacy-preserving encryption to maintain anonymity.
Worldcoin (WLD) Tokenomics
- Total Supply: Capped at 10 billion WLD over 15 years, with a potential 1.5% annual inflation thereafter.
- Distribution:
| Allocation | Percentage |
|——————–|————|
| Worldcoin Community | 75% |
| Development Team | 9.8% |
| Investors | 13.5% |
| Reserve | 1.7% |
WLD is an ERC-20 token on Ethereum and Optimism, enabling cross-chain transactions.
Is Worldcoin (WLD) a Good Investment in 2024?
WLD’s price surged in February 2024, driven by AI-related hype, but remains volatile. Key considerations:
– Pros: Strong tech, growing adoption, and AI/web3 synergy.
– Cons: Early-stage risks and market fluctuations.
👉 Explore WLD investment strategies
Best Wallet for Worldcoin (WLD)
Bitget Wallet is ideal for managing WLD due to:
– Multi-chain support (100+ networks, including Optimism).
– User-friendly interface for trading and DApp access.
– Security features like encrypted key storage.
Step-by-Step Guide: Using Bitget Wallet with WLD
1. Create a WLD Wallet
- Download Bitget Wallet (web3.bitget.com).
- Select “Create Wallet” and add the Optimism network.
2. Buy WLD Tokens
- Use OTC services to purchase ETH on Optimism.
- Swap ETH for WLD via Bitget Swap.
3. Deposit/Withdraw WLD
- Deposit: Share your Optimism wallet address.
- Withdraw from World App: Select “Other Optimism Wallet” and enter your Bitget address.
FAQ
Q1: Is Worldcoin’s iris scan safe?
A: Yes—scans are deleted post-verification, and IrisCodes are encrypted.
Q2: Can I recover a lost World ID?
A: Yes, via Orb re-verification in World ID 2.0.
Q3: Which networks support WLD?
A: Ethereum and Optimism (ERC-20 standard).
Q4: What’s the long-term vision for Worldcoin?
A: To create a universal digital identity and financial network.
Q5: How does WLD compare to other AI tokens?
A: Unique focus on identity verification sets it apart.
Final Tip: Always verify wallet addresses and network compatibility before transactions.