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$WLD
Happy Weekend❤️✨️
🌐 Understanding Worldcoin (WLD)
Worldcoin (WLD) is a highly ambitious cryptocurrency project launched in July 2023, co-founded by OpenAI CEO Sam Altman. Its core mission is to create a global, privacy-preserving digital identity and financial network, ultimately aiming to distinguish humans from AI in the digital realm and enable universal access to the global economy.
The ecosystem centers around two main components: the World ID and the WLD token. The World ID is a digital passport that verifies a user's unique humanity. To obtain a World ID, users must undergo a biometric scan of their irises using a proprietary hardware device called "the Orb" . This process is designed to create a unique identifier without storing personal biometric data, leveraging technologies like zero-knowledge proofs for privacy.
The WLD token is the network's native cryptocurrency, functioning as both a utility and governance token. Verified users often receive WLD grants for participating in the system, a concept inspired by universal basic income (UBI) discussions. The token operates as an ERC-20 token, primarily leveraging the Optimism Layer 2 network on Ethereum for faster and more cost-effective transactions. While Worldcoin promises a more equitable and inclusive financial future, its use of biometric data has sparked significant privacy debates and regulatory scrutiny in several countries, presenting a challenge to its goal of global adoption.
