Get the World with WLD on KoinBX’s Crypto Trading App
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WLD on Crypto Trading App
In the world of a crypto trading app the goal of the Worldcoin project is to establish the global largest and most prominent financial network as a public utility token providing ownership to everyone. Worldcoin (WLD) is based on World ID, which is a global identity network that protects your privacy. With World ID, you can prove your humanity online (proof of personhood) while protecting your privacy with zero-knowledge proof.
Owing to its governance properties, the WLD token is intended to be a utility token. This allows users to have a voice in the future governance of the protocol. The introduction of World ID sets the stage for “one-person-one-vote” governance mechanisms that can be combined to create new governance models. After launching the WLD token, the proposals were solicited and collaborated with the community to determine the functions of World ID and WLD in Worldcoin’s governance model.
The user community will determine the utility level of the tokens, but few use cases could occur along with governance. The WLD token can be used by users to pay for specific activities in the World App or other wallet apps, for other types of payments, or as a token of approval for specific projects or causes.
WLD is an ERC-20 token on the Ethereum network. Individuals will receive their user contributions on the Optimism network. Hence, most WLD transactions will most likely occur on the Optimism platform.
The worldcoin project includes the following components:
• World ID: A digital identity generated through iris biometrics.
• World App: A digital asset wallet that allows global payment, purchases, and transfers.
Founders
The founders of Worldcoin are Sam Altman (CEO), Alex Blania (Cofounder), and MaxNovendstern (Co-Founder). Tools for Humanity (TFH) supported the early development of Worldcoin. Worldcoin has raised over $250 million in several rounds of funding from global investors.
Altman has been an advocate of Universal Basic Income (UBI) as a way to address income inequality across the world. According to Altman, Worldcoin could help reduce fraud if governments adopt it in providing UBI to their people. Altman has stated that Worldcoin is an attempt to bring the world together, and that the journey will be lengthy and the outcomes are unpredictable, but that the search for new methods to share the promise of technological abundance is "one of the greatest challenges of our time".
Uniqueness
The goal of Worldcoin is to create the biggest identity and financial network in the world, with a truly global acceptance at a billion-person scale. Unlike most crypto projects, most WLD tokens will go to people - just for being human.
With World ID, users will be able to authenticate themselves as genuine, unique individuals to any platform that supports the protocol, such as web3 applications, social networks, and government programs.
This will allow for fair airdrops, token/NFT sales, social media bot/Sybil attacks, and fair distribution of scarce government resources. World ID can also facilitate global democratic processes and novel governance models, and may eventually pave the way to AI-powered UBI.
More than two million individuals from more than thirty different nations have undergone a pre-launch verification at a custom biometric imaging device called the Orb. Orb uses two cameras, one wide-angle and one telephoto, to take a high-quality picture of your iris and turn it into a digital ID. At launch, WLD begins the rollout of 1,500 Orbs across 35+ cities in 20+ countries to meet the global demand for World ID. KoinBX will list Worldcoin (WLD) on 28th July 2023. Get ready to start trading WLD with us.
Working of Orb
A silver orb is being used to scan the eyes of members of the public as part of a digital asset project that seeks to use biometrics to differentiate people from artificial intelligence systems.
Participants in the Worldcoin scheme who register via the app this week will be rewarded with a "genesis grant" of 25 tokens (roughly £40) after their iris is scanned using one of the "bowling ball-sized" devices.
Once a user has scanned their eyes, they will be issued a World ID, to authenticate the user as a “genuine and distinctive individual” , according to the scheme while protecting their privacy, as well as a crypto wallet stored on their smartphone.
Future of Iris-based Unique ID
As the number of bots on the internet continues to grow, the iris-based unique ID created by Orb is designed to differentiate unique people from online artificial intelligence chatbots and stop fraud.
The platform effectively addresses a problem created by Altman's OpenAI. The paid ChatGPT API of OpenAI has been utilized by developers to build human-like artificial intelligence bots on the web.
Being aware of AI development’s catch-22, Altman claims to be on a mission to shape AI regulation across the world. In May 2023, Altman called on Congress to “regulate AI” and warned that the technology could “harm the planet if allowed to spin out of control.” Last week, OpenAI agreed to a safety pledge from the White House.
By emphasizing biometrics as evidence of a person’s identity, Altman is entering another controversial area. Worldcoin will likely face questions about how the data is currently being collected and processed if it can protect itself from hackers in the near future, and if it can really be fraud-resistant.
Security
Since the WLD token is deployed on the Ethereum Mainnet network and the token is connected to the Optimism "layer 2" network, the WLD token inherits the security features of both Ethereum Mainnet and Optimism.
Tokenomics
Token Name: Worldcoin
Ticker Name: WLD
Total Supply: 10,000,000,000 WLD
Circulating Supply: 109,947,145 WLD
Max Supply: 10,000,000,000 WLD
Market Cap: $261,373,413
As of July 26th, 2023, the total token supply of WLD stands at 10,000,000,000 tokens. Presently, the circulating supply amounts to 110,277,296 tokens, which accounts for approximately 1.05% of the total token supply.
Listing Date - July 28, 2023, at 11.30 AM (UTC)
Trade Pairs -
CMC Link: https://coinmarketcap.com/currencies/worldcoin-org/
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