Worldcoin (WLD) aims to establish the largest identity and financial network worldwide as a public utility. Its foundation rests on World ID, a privacy-preserving global identity network that enables users to validate their humanness online ("Proof of Personhood") while maintaining privacy using zero-knowledge proofs.
Worldcoin's Protocol and Utility
The Worldcoin system begins with the World App, the initial wallet app supporting World ID creation. Users create their World ID by visiting an Orb, a physical imaging device run by independent local businesses called Orb Operators. The Orb utilizes multispectral sensors to verify uniqueness and humanness, discarding all images per default absent explicit consent for Data Custody.
Orb-verified World ID holders can claim recurring free WLD tokens, which could potentially make WLD the most widely distributed digital currency. While the WLD token holds utility and governance properties, the introduction of World ID allows for the possibility of "one-person-one-vote" governance mechanisms.
Worldcoin's Founding and Investment
Worldcoin was founded by Sam Altman, Alex Blania, and Max Novendstern, with the latter leaving the project in July 2021. Sam Altman, the most recognized of the co-founders, is the current CEO of OpenAI and former president of Y Combinator. Initial project research was conducted by Tools for Humanity (TFH) among other partners.
The project raised over 250M USD from investors such as a16z, Khosla Ventures, Bain Capital Crypto, Blockchain Capital, and Tiger Global.
Unique Aspects of Worldcoin
Worldcoin seeks to construct the world's largest identity and financial network, with the primary goal of achieving global adoption at the billion-people scale. Majority of the WLD tokens will be given to individuals simply for being human.
World ID allows individuals to prove they are a unique human on any platform integrated with the protocol, which paves the way for fair airdrops, protection against bots, and a fair distribution of limited governmental resources. More than two million people from over 30 countries have already been verified through an Orb.
WLD Circulation and Security
The initial total supply of Worldcoin is 10 billion WLD tokens. For 15 years following the launch, the supply cap is fixed to 10B WLD. After 15 years, governance may decide to implement an inflation rate of up to 1.5% per year, if it is deemed necessary for the protocol's long-term sustainability.
Worldcoin (WLD) tokens are allocated as follows: 75% to the Worldcoin community, 9.8% to the Initial Development Team, 13.5% to TFH Investors, and 1.7% to the TFH Reserve.
Security-wise, the WLD token contract is deployed on Ethereum Mainnet and bridged to the Optimism “layer 2” network, inheriting the security properties of these two blockchains.
In summary, Worldcoin presents an innovative model for global identity verification, aiming to distribute its tokens to as many individuals as possible. This groundbreaking approach is an exciting opportunity for users and investors on 8V Exchange.
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