A few simple points to help you understand $WLD

Worldcoin is a cryptocurrency based on artificial intelligence experience, which aims to solve the identity authentication problem in the era of artificial intelligence. Its core goal is to build a decentralized personality proof solution to support human identity authentication needs in the digital world.

Worldcoin plans to distribute special hardware called "Orb" around the world so that everyone can scan their irises and get their identity through an app. Worldcoin claims to use privacy protection technology and plans to gradually decentralize protocol governance.

Founder:

The original idea for WorldCoin was conceived by co-founders Sam Altman and Alex Blania. Sam Altman has received much attention as CEO of #OpenAI , having previously served as president of startup incubator Y Combinator and briefly as CEO of Reddit.

And Alex Brania is an artificial intelligence researcher.

1️⃣Importance:

WorldCoin is dedicated to solving real-world identity verification problems, including challenges with centralized identity verification systems and AI-generated spam.

Through the Proof of Person solution, WorldCoin attempts to effectively address these challenges by ensuring that the identities of real humans are proven.

2️⃣Token Economics:

The WLD token is the Ethereum mainnet’s #ERC-20 token, and eligible users can receive tokens on the Optimism mainnet. Its initial supply is capped at 10 billion, and future network governance can determine the inflation rate and set the distribution mechanism for new tokens.

Of the initial distribution of tokens, 75% was allocated to users, ecosystem funds, and network operations, with the majority allocated to users; nearly 10% was allocated to the founding team, 13.5% was allocated to investors, and 1.7% was used as a reserve.

Worldcoin claims that its token economics will provide the vast majority of tokens to new and existing users for many years to come to create a network with proof of personality, and the more people participate, the better. The more new users join the network, the more WLD's circulating supply will continue to increase.

3️⃣How it works:

The core components of Worldcoin include identity authentication World ID, WLD tokens and World App. Users can generate private and public keys through the World App and verify their identity through an iris scan with a nearby Orb device. After verification, users will receive a World ID verified by Orb.

4️⃣Limitations and risks:

Although WorldCoin$WLD ’s goals are ambitious, it faces several limitations and risks.

👇These include

●Token price volatility: The market is volatile, and the price of WLD tokens may also fluctuate significantly, so investors should act with caution and do sufficient research before considering an investment.

●Manipulation risk: Scammers may manipulate and abuse other people's World IDs. Although WorldCoin has tried its best to prevent external access, there will always be people who exploit loopholes to steal other people's World IDs.

●Orb Security: Orb has multiple vulnerabilities, including fraud, accuracy issues, and potential data leakage or theft. Since the hardware system cannot be 100% secure, Orb has significant security risks.

●Personal data privacy issues: Some users are very concerned about the security and privacy of their biometric data. Although WorldCoin only stores the hash value of the iris scan data instead of the full data, there is still a risk of sharing personal data. In addition, WorldCoin may use facial recognition technology, which increases the risk of data privacy.

● Regulatory uncertainty: WorldCoin will face a complex regulatory environment around the world during its exploration, and may encounter compliance issues and regulatory uncertainty. Changes in local regulations may have a significant impact on the operation of WorldCoin.

●Centralization vs. open source: Most of the Worldcoin protocol is open source, but parts like the Orb firmware are not yet open source. Currently, the operation of Worldcoin is mainly centralized, including data center storage of iris scan hash values ​​and production and distribution of Orbs. Whether decentralization will be achieved in the future depends on the specific implementation.

Summary and suggestions:

The WorldCoin project is committed to solving the problem of digital identity verification, and its vision is to build a network that fairly distributes universal basic income. However, investors and users should fully understand the risks and act with caution before participating in the project or investing in tokens.

In the cryptocurrency space, the reaction and actual application of WorldCoin will determine the direction of the value of its tokens. Therefore, please be sure to conduct sufficient research and evaluation before making any investment behavior.

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