ZyaneZ23

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​🌐 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.
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