A few days ago, #Worldcoin was launched. It has attracted more than two million users. 

But there is a caveat. There is another WorldCoin project that also has a different token. 

Here’s what to know about the two projects.

Name, vision, and website:

Worldcoin is a project on a mission to create an inclusive global identity and financial network owned by the majority of humanity. It was founded in 2019 and fully launched in 2023.

Success could lead to increased economic opportunity, a reliable way to differentiate humans from AI online while preserving privacy, support global democratic processes, and explore the potential for AI-funded Universal Basic Income (UBI).

The website is https://worldcoin.org/

WorldCoin is another digital project designed to be the world's first digital currency of the future with its fast transaction speed.

It aspires to be the preferred choice for everyday transactions for both merchants and consumers, from small purchases like a cup of coffee to larger expenses. 

With WorldCoin, transactions are fully confirmed in about 60 seconds or less, enabling instant money transfers to friends and family with ease.

It was started in 2013.

The website is https://www.worldcoin.global/

Consensus mechanism:

  • Proof of Personhood

At the heart of World ID is the goal to create a global, scalable, and inclusive proof of personhood system.

When used, the verifier app can request additional information related to the user's proof of personhood, which the user can choose to share. 

Privacy is a top priority, and proof of personhood is handled with the highest standard of anonymity, ensuring that only the fact of being human is verified without revealing any personal identity information. 

  • Auxiliary Proof of Work (AuxPoW)

WorldCoin uses the Auxiliary Proof of Work (AuxPoW) consensus.

This mechanism allows a miner to utilize their computing power to mine on multiple blockchain networks simultaneously. 

It involves using a transaction from one blockchain network on a different blockchain network in a valid manner.

It has a block time of 30 seconds, and its miners’ reward of 1.50 coins reduces by 1% every week.

Crypto token:

Worldcoin - $WLD 

WorldCoin - $WDC

Web/Mobile:

Worldcoin is accessible via the web and mobile. However, the mobile application is where most of its activities are done.

WorldCoin only has a web version. There is no mobile app for this except when you use mobile wallet apps that can host the token.

Conclusion

Be careful as you flow from one project to another.

Always check the website to confirm the token details before you make any transaction.