(Updated on 17 July 2024, 03:02 AM IST):
Have you ever wished you had more control over your online identity? DIDs, or Decentralized Identities, are a new wave of technology that puts the power back in your hands. Imagine a world where you control your personal information, not social media giants or banks. That's the promise of DIDs.
What is Decentralized Identity?
A Decentralized Identity (DID) is basically your own digital ID card for the web3 world. Unlike traditional systems where social media or banks control your data, DIDs give you the power. Imagine a secure vault where you hold your information and decide who gets access. This is DIDs in a nutshell.
Why are DIDs Important?
Think of the web as a bustling marketplace. Traditionally, you rely on the market owner (like a social media platform) to verify who you are. With DIDs, you become your own vendor, carrying your own unique ID card. This ID card, stored securely on a blockchain, lets you interact with different services without having to re-verify yourself every time.
Benefits of DIDs:
You're in Charge: DIDs give you complete control over your data. You decide who sees what and when.Enhanced Security: Blockchain technology makes DIDs tamper-proof, reducing the risk of data breaches.Privacy Matters: You can choose how much information to share without revealing everything.One ID for Many Places: Use your DID across different platforms, streamlining your online experience.Lower Costs: DIDs can cut verification costs associated with traditional identity systems.
Top DID Projects to Watch:

1. Worldcoin $WLD

Source: Worldcoin
Worldcoin aims to create unique digital identities using biometric data, specifically iris scanning. This approach ensures one person-one account integrity, preventing identity fraud. Worldcoin's integration with networks like Ethereum, Optimism, and Polygon enhances its versatility. The project is notable for its focus on privacy and financial inclusion, especially for unbanked populations.
Price: $2.78Marketcap: $770 Million
2. Ethereum Name Services $ENS

Source: ENS
Ethereum Name Service (ENS) simplifies interactions within the Ethereum ecosystem by mapping human-readable names to blockchain addresses. This makes transactions more user-friendly by replacing complex hexadecimal addresses with familiar names like 'alice.eth'. ENS enhances accessibility and functionality in the decentralized web.
Price: $27.21Marketcap: $864 Million

3. Polygon ID $MATIC

Source: Polygon-ID
Polygon ID uses zero-knowledge proofs (ZKPs) to provide a privacy-centric digital identity solution. Users can manage credentials on their devices, enabling secure and private information sharing. This project is notable for its seamless integration with decentralized applications (dApps) within the Polygon ecosystem.
Price: $0.5506Marketcap: $5.45 Billion

To see remaining top 2 DID tokens, visit us here: https://coinsprobe.com/top-decentralized-identity-did-tokens-to-watch-out-for-bull-run/
Conclusion
Decentralized identities are reshaping how we manage and interact with digital identities. Projects like Worldcoin, Polygon ID and ENS are at the forefront of this innovation, each bringing unique solutions to enhance security, privacy, and interoperability in the digital world.

Disclaimer:
The information provided is for informational purposes only and should not be considered financial advice. Always conduct your own research before making any investment decisions. Investments in cryptocurrencies are subject to market risks.
#DID #Worldcoin​ #CryptoTrading

Hold onto your crypto hats, folks, because the market's brewing a potent cocktail of controversy and anticipation! Here's a quick dive into the hottest trends:️ Worldcoin's Eye-Scanning Orb Lands on Reddit: Remember Worldcoin, the project promising universal basic income in exchange for an eye scan? Yeah, they're teaming up with Reddit and Microsoft, raising eyebrows (and privacy concerns) across the cryptosphere.World ID 2.0 Is this a dystopian plot twist or a genuine innovation? You decide!⏳ Ethereum ETF Delay: Patience is a Virtue: The SEC just threw a curveball, pushing back the decision on Invesco and Galaxy Digital's Ethereum ETF to February 2024. SEC ConferenceThis doesn't necessarily mean doom and gloom – it could just signal the SEC's meticulous approach to ensuring investor protection. Will 2024 be the year the Ethereum ETF dam breaks? Market Musing: With these developments swirling, the market's taking a contemplative break.Market Musing Quote on InflationWill Worldcoin's Reddit integration spark user outrage or widespread adoption? Will the delayed Ethereum ETF decision dampen spirits or fuel anticipation for a bigger approval wave? It's a puzzle wrapped in an enigma, but one thing's for sure: it's gonna be a wild ride!So, crypto champions, let's dissect these trends!Is Worldcoin's vision a bridge to a brighter future or a slippery slope to Big Brother?A Tweet on this whole TopicDoes the Ethereum ETF delay signify a cautious SEC or a potential green light for other applications?What other crypto trends are capturing your attention today?Share your thoughts, predictions, and memes! Let's make sense of this ever-evolving crypto landscape together.Remember, knowledge is power, and curiosity is the key to unlocking the next chapter of the crypto revolution.Hashtags: #Worldcoin​ #ETFTrends #fomc #cryptocurreny #bulllish $ETH $BTC $XRP 🪷

Sam Altman, ousted as CEO of OpenAI, continues as co-founder and chairman of Tools for Humanity, the company behind Worldcoin.Negotiations about his return to OpenAI are ongoing. Despite initial drops, Worldcoin's WLD token has recovered from $1.83 to $2.40 post Altman's ouster. The project aims to create a global network using a unique verification method involving retinal scans and has distributed nearly 40 million WLD tokens since launch. Tools for Humanity secured $100 million in March 2022 at a $3 billion valuation and an additional $115 million in May 2023.#Worldcoin​ #WorldcoinRise #BTC

For the next six months, Worldcoin intends to sell up to 1.5 million WLD tokens weekly to specific trading firms outside the United States. Additionally, the digital identity project, Worldcoin, plans to boost its WLD token supply by as much as 19% during this period.

This increase will occur through a series of private sales to institutions located outside the United States.

Worldcoin Plans Significant WLD Token Supply Expansion
In an April 23 blog post, Worldcoin revealed its strategy to boost the supply of WLD tokens significantly. The subsidiary, World Assets, under the Worldcoin Foundation’s purview, will oversee the token issuance process. They aim to sell approximately 1.5 million WLD tokens, valued at about $8.2 million, weekly through private placements to institutional trading firms outside the U.S.
According to Worldcoin’s announcement, World Assets anticipates selling between 0.5 million and 1.5 million WLD tokens per week on average. This continuous influx will result in a proportional increase in the circulating supply of WLD tokens.

Source: Worldcoin
Over a span of six months, this initiative will introduce approximately 36 million new WLD tokens into the market, translating to an estimated value of around $197 million, based on CoinGecko data. Given the current circulating supply of 193 million WLD tokens, these private sales signify an 18.6% surge in the total available supply within the same timeframe.
Worldcoin’s Negotiation Strategy and Market Position
Worldcoin disclosed its intention to engage in negotiations with individual trading firms, especially those in competition with each other. The aim is to facilitate private placements at or near prevailing market prices for WLD tokens. This approach seeks to mitigate potential price impacts on the token.

Despite its current market capitalization of $1 billion, Worldcoin’s fully diluted value (FDV) stands significantly higher at $54.5 billion, considering the total value if all tokens were in circulation.

Worldcoin is ranked as the 6th largest cryptocurrency by FDV. Source: Coingecko
Launched from beta in July 2023, Worldcoin was co-founded by OpenAI CEO Sam Altman, current CEO Alex Blania, and Max Novendstern, who also leads the biometrics research firm Mana. Positioned as a crypto-based digital identity project, Worldcoin addresses identity challenges stemming from AI advancements and introduces a unique universal basic income model through its native WLD token.
Worldcoin’s Identity Registration Process and Price Movement
Identity Registration with the “World App”: Worldcoin users undergo identity registration using the company’s “World App,” where they scan their retinas at machines known as “Orbs.” In return for providing their biometric data, users receive approximately 25 Worldcoin, valued at around $137 currently.
Price Movement Amidst AI-Linked Crypto Rally: Benefiting from a broader surge in the prices of AI-linked cryptocurrency projects, Worldcoin experienced a remarkable 435% surge from its launch price of $2.17 on July 24 to its peak of $11.74 on March 10.

Worldcoin grew other 450% in six months: Source – CoinGecko
Recent Price Decline: Despite its previous upward trajectory, Worldcoin has witnessed a significant downturn in recent weeks, with its price plummeting by over 53% from its all-time high. Presently, it is being traded at $5.49.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#WLD #Worldcoin​ #Bitcoin #Ethereum $WLD $BTC $ETH