Worldcoin is a blockchain project that seeks to provide a unique digital identity to every individual on the planet. This identity aims to differentiate genuine human users from bots or AI algorithms, addressing the growing challenge of distinguishing between human and AI-generated content online.
The project was co-founded by Sam Altman, the CEO of OpenAI, and has been in development for several years. At its core, Worldcoin's mission is to create a global financial and identity network based on "proof of personhood."
Worldcoin operates as a three-pronged system consisting of World ID, World App, and the Worldcoin token (WLD). The World ID is the heart of the platform. It uses the Orb to scan an individual's iris, creating a unique identification code called an IrisCode. This code is not tied to any personal information, ensuring privacy. Once the Orb scans the iris and saves the IrisCode, it issues the World ID and deletes the iris image. This ID is then added to the Worldcoin blockchain, allowing users to identify themselves securely.
The World App acts as a repository for the World ID and functions as a crypto wallet. It preserves users' privacy while also providing access to a growing list of decentralized finance applications. Apart from storing the World ID, the app can hold other cryptocurrencies like Bitcoin, Ethereum, and USDC. The Worldcoin ecosystem's functionality is further enhanced by the World App, which supports the adoption of cryptocurrencies, allowing users to buy, trade, and transfer digital assets while maintaining their digital identity.
WLD is the utility token of Worldcoin. WLD has a total supply of 10,000,000,000. The current circulating supply of WLD is 125,025,482
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