Worldcoin

Million

April

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Worldcoin, the new cryptocurrency project, is getting a lot of attention following the tweet from the founder, Sam Altman.</a> </li> 
 <li> <span>2</span> <a>Sam Altman tweeted on July 26, 2023, that one person is getting verified for Worldcoin every 8 seconds.</a> </li> 
</ul> 
<p>Sam Altman also posted a video that shows the footage of the people standing in a queue to use the project’s eye-scanning technology and described it as crazy lines around the world. Although he has not provided any further evidence or clues regarding the video, he claimed that 1 person is getting verified in 8 seconds but did not state how many people have participated.&nbsp;</p> 
<p>The prior reports of July 13, 2023, showed that before Worldcoin’s launch, it had attracted more than 2 Million registrations. It has so many offices worldwide but Altman’s video recording is very secretive without mentioning any details about the place. Some users reported no such lines.</p> 
<h2 class="wp-block-heading" id="strong-understanding-the-aim-behind-worldcoin-strong"><strong>Understanding the Aim Behind Worldcoin</strong></h2> 
<p>Worldcoin is the digital platform that facilitates unique identification that proves they are real humans and not AI. The company that made Worldcoin is “Tools for Human” which is co-founded by Sam Altman who is better known as the founder of ChatGPT. The company often refers to as proof of personhood.</p> 
<p>Like fingerprints, the irises of every person differ. When Orb scans the iris, a unique identification code is created called IrisCode. The code is not linked to users’ personal information. The IrisCode is saved anonymously and it issues a WorldID afterwards. Worldcoin blockchain stores these WorldID and users can cryptographically secure apps to identify themselves.</p> 
<p>The app that saves the identity is Worldapp. When a user creates the WorldID and downloads the app, then it gets access to the WLD cryptocurrency token.</p> 
<h2 class="wp-block-heading" id="strong-recent-market-analysis-of-worldcoin-strong"><strong>Recent Market Analysis of Worldcoin</strong></h2> 
<p>On-chain data shows that there is only limited adoption. Etherscan data shows that there are 3,799 holders of the WLD token and 14,541 transfers have occurred. Besides the early gains on July 24, 2023, the token price is above $2.60 which has dropped to $2.21. As per CoinMarketCap, a website for crypto analysis, it has a market cap of $245 Million which make it rank among the top 120 <a href="https://www.thecoinrepublic.com/2023/08/12/5-best-cryptocurrencies-to-grow-investments-in-2023/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrencies</a>.</p> 
<p>On July 24, 2023, Worldcoin Project ID and cryptocurrency were executed. The project ID includes eye-scanning technology. These IDs can be used in scanning the access and also differentiating between human and AI agents. The users who participate in the program are awarded cryptocurrency. Reports suggest the signup reward is 25 WLD currently which is worth $52.50.</p> 
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3> 
<p>Although Worldcoin faces a lot of criticism, this digital platform has answered many such interpretations. One such allegation was made by the Massachusetts Institute of Technology (MIT) in April 2022 that the company uses deceptive marketing practices to collect more data and store personal information. To this, the Worldcoin company replied in 25 pages how they are not a data company and they are interested in uniqueness.</p>

Worldcoin Adopting Eight Users Per Second, Tweets Sam Altman

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Thecoinrepublic.com

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