World Coin (WLD) Cryptocurrency
Worldcoin is a cryptocurrency venture co-founded by OpenAI CEO Sam Altman with the goal of building a comprehensive global financial and identity network. More specifically, the project aims to differentiate between humans and computer programs in the age of artificial intelligence. To this end, Worldcoin has developed a proof-of-identity (PoP) mechanism to determine and verify the humanity and uniqueness of users.
How does Worldcoin (WLD) work?
World ID: This is a unique digital identity assigned to each user. It was created using Worldcoin’s Orb device, which performs a secure iris scan to generate a unique identification code. This process ensures that each person has only one world ID, as it prevents duplicate entries in the system. Iris images will be deleted after scanning to protect biometric data.
World App: Once the user has a World ID, he or she can use the World App. The app is designed for secure authentication, leveraging the cryptographic security of World ID. It is a key tool for accessing various services and applications within the WorldCoin ecosystem.
WorldCoin (WLD): This is the native cryptocurrency token of the WorldCoin ecosystem. It plays a central role in the ecosystem, facilitating transactions and motivating various stakeholders within the Worldcoin platform.
Worldcoin's brand is built on three core products: World ID, World App, and Worldcoin (WLD) tokens. In order to expand its coverage and accessibility, Worldcoin Orbs, which are critical to the creation of World ID, are strategically placed in major cities such as Tokyo, Singapore, Mexico City, Paris, New York, San Francisco, and approximately 25 other locations around the world.
Why is proof of identity important?
Proof of identity is critical to maintaining the integrity and inclusivity of digital systems, especially in web3 where user anonymity is even more valued and protected. By proving a user's humanity and uniqueness, proof-of-identity (PoP) mechanisms help prevent fraud, identity theft, and manipulation of the system by bots or other malicious actors. If large numbers of bot users are maliciously created, they will not only worsen the user experience but also undermine trust in any system. As such, they pose significant risks to the personal information and assets of real human users. Identity mechanisms such as Worldcoin's Iris Code and World ID protect against these threats and enhance trust and security within the web3 ecosystem.
What is the "Orb" in World Coin?
Orb is a proprietary iris scanning and imaging device developed by Worldcoin. As the name suggests, its shape is spherical. The sphere's function is to scan, capture your unique iris pattern and convert the biometric image into digital information called an "iris code."
What is the "World ID" in World Coin?
Once the new iris code is entered into the WorldCoin database, a unique World ID will be generated. World ID functions like a “digital passport,” allowing users to express their uniqueness and humanity while remaining anonymous. According to Worldcoin, this is achieved through zero-knowledge proofs (ZKP) and other privacy-preserving encryption technologies.
World ID 2.0 is the most recent upgrade and will also allow users to reset their World ID if it is lost or stolen. To deactivate a lost/stolen world ID and obtain a new legitimate world ID, users simply need to re-verify their IrisCode with Orb.
What are the token economics of WorldCoin (WLD)?
World Coin (WLD) launches on July 24, 2023, with a fixed supply cap of 10 billion WLD tokens for 15 years after launch. Over 15 years, a maximum annual inflation rate of 1.5% may be introduced if deemed necessary by the protocol governance team. The token distribution of World Coin (WLD) is as follows: 75% for the World Coin community, 9.8% for the initial development team, 13.5% for Tools for Humanity (TFH) investors, and 1.7% for the TFH reserve. It is worth noting that WLD is an ERC-20 token on the Ethereum mainnet and Optimism mainnet, which means that users can use WLD for transactions in these two thriving ecosystems.
Is WorldCoin (WLD) Token a Good Investment in 2024?
The recent surge in performance of the Worldcoin (WLD) token has attracted the attention of many investors. However, WLD has actually experienced a lot of quiet and bleak days since its launch in July 2023, as it struggled to gain momentum and remained essentially unchanged in value for nearly five months. A glimmer of hope emerged in mid-December when Worldcoin (WLD) experienced a slight rise, briefly reaching $4.3. This rise not only hints at a slight recovery in the cryptocurrency market, but also hints at potential synergies between artificial intelligence and web3 technologies in the future. However, despite experiencing a brief surge, Worldcoin still faces a downward trajectory between December 2023 and February 2024. Then, in February of this year, the AI narrative shifted dramatically, embarking on a massive and long-term climb to reach new all-time highs. February 19, 2024. This surge has been accompanied by an increasing number of AI-related tokens entering the market, demonstrating the continued deployment of capital and strong optimism for the AI sector.
Powered by the project’s iris-scanning “Orb,” Worldcoin (WLD) may continue to be a dark horse among artificial intelligence coins in the coming weeks. With its technical prowess and community enthusiasm, Worldcoin (WLD) has the potential to carve out an important niche in the cryptocurrency space. That said, sharp price increases are almost always followed by a pullback. Investors must be aware of the inherent volatility of the market and conduct their own research.
Which wallet is best for Worldcoin (WLD)?
The ideal Worldcoin (WLD) wallet depends on personal preference and considers factors such as security, user-friendliness, account recovery options, and multi-token support. Nonetheless, whether you use Worldcoin (WLD) to hold or trade, Bitget Wallet is the ideal wallet choice for managing WLD as well as other Ethereum and Optimism cryptoassets.
Due to Bitget Wallet's strong support for more than 100 mainnets, cross-chain interaction can be easily achieved, allowing users to easily conduct multi-currency transactions. Broad mainnet support requires compatibility with multiple cryptocurrencies, including Worldcoin (WLD), making Biget Wallet a one-stop asset management tool. This flexibility not only streamlines your trading process, it also provides accessibility and convenience for users looking to maximize their investment opportunities. Additionally, Bitget Wallet gives you instant and seamless access to the rich Ethereum and Optimism DApp ecosystem, enhancing your crypto experience.
For these reasons and more, Bitget Wallet stands out as the best Worldcoin (WLD) wallet for iOS, Android, and Google Chrome extension users. Join over 15 million users around the world who trust Bitget Wallet and get ready to unlock a new experience in secure and user-friendly crypto management!
Tutorial: Interacting with Worldcoin (WLD) on Bitget Wallet
How to create a Worldcoin (WLD) wallet?
1. Download and install Bitget Wallet by visiting the official Bitget Wallet website (web3.bitget.com/zh) or finding it in your device's app store.
2. After installation, open the app and select "Create Wallet".
3. Once created, navigate to the "Wallet" page and add "Optimism" from the mainnet list in the upper right corner.
4. You have successfully created Optimism’s Web3 wallet! You can now add WLD tokens to your wallet via "Token Management".
How to buy Worldcoin (WLD)?
Before purchasing Worldcoin (WLD), cryptocurrencies such as ETH must first be held on the Optimism mainnet. If you don’t have these assets, Bitget Wallet offers an over-the-counter (OTC) service where you can buy cryptocurrencies using fiat currencies. The service accepts a variety of payment methods, including Visa, Mastercard, Apple Pay, Google Pay and USD credit cards.
1. Open the Bitget wallet and enter the "Wallet" page. Here, select the “Buy” option.
2. Select the fiat currency you want to use and select "ETH" (Optimistic) from the drop-down menu.
3. Enter the amount you want to purchase, confirm the purchase, and select a payment method.
4. After the transaction is completed, the purchased ETH will appear on your Bitget wallet homepage.
5. To purchase WLD, click on "Market" and search for "WLD". Select "Buy" to access Bitget Swap and start trading!
How to deposit World Coin (WLD) tokens into Bitget wallet?
To deposit WLD to your WLD wallet from another cryptocurrency wallet or exchange, simply:
1. Go to the Bitget wallet homepage and select "Receive".
2. Select Optimism Network and find WLD.
3. Copy your WLD wallet address or use the QR code to transfer funds more easily.
4. From the exchange or wallet of your choice, start the withdrawal or transfer process and paste your WLD wallet address to deposit funds.
Remember, it is crucial to double-check the address and confirm network compatibility before completing the deposit process.
How to withdraw Worldcoin (WLD) tokens from World App to Bitget Wallet?
To withdraw WLD from your World application, simply:
1. Open your World app and select "WIthdraw" on the wallet page.
2. Select your preferred withdrawal destination. If you would like to withdraw your Worldcoin (WLD) to a Bitget wallet, select "Crypto Wallet".
3. Select "Other Optimism Wallet" and enter your Bitget wallet Optimism address.
