Worldcoin (WLD)
Worldcoin is a pioneering project with the ambitious mission to build the world's largest identity and financial network as a public utility, aiming to give ownership to everyone. In a future where artificial intelligence (AI) plays an increasingly significant role, Worldcoin seeks to develop foundational infrastructure to support this transformation. At the heart of the Worldcoin system is World ID, a privacy-preserving global identity network designed to enable users to verify their human identity online while safeguarding their privacy.
The World ID network
Understanding World ID
World ID is a revolutionary concept designed to enable individuals to prove their humanness in digital interactions. Utilizing zero-knowledge proofs, World ID ensures that users can authenticate their identity without compromising personal privacy. This system is poised to integrate with a range of platforms, including web3 systems, social networking sites, and governmental programs.
| Ticker | WLD |
| Category | Smart Contract Platform |
| Website | https://worldcoin.org/ |
| @worldcoin | |
| Telegram | worldcoin |
| Contract Addresses | |
|---|---|
| ethereum | 0x16...53 Copied! |
| optimistic-ethereum | 0xdc...f1Copied! |
| world-chain | 0x2c...03Copied! |
Applications of World ID
World ID's capabilities offer solutions for multiple challenges in the digital realm. By verifying real and unique human identities, World ID supports activities such as fair airdrops or token/NFT sales, combating bots and sybil attacks on social media, and ensuring the equitable distribution of limited governmental resources. Furthermore, World ID can facilitate global democratic processes and innovative governance models, such as quadratic voting. This identity network may also provide insights into potential AI-funded Universal Basic Income (UBI) systems.
The Worldcoin token (WLD)
Utility and governance
The Worldcoin token (WLD) plays a critical role in the Worldcoin ecosystem. Designed as a utility token with governance properties, WLD allows users to participate in the decision-making processes governing the Worldcoin protocol. This participatory approach aims to create a decentralized and democratically governed network.
Claiming WLD tokens
To engage with the Worldcoin protocol, individuals must first acquire a World ID through a process involving the Worldcoin wallet app and a physical imaging device known as the Orb. Once Orb-verified, users can claim recurring grants of free WLD tokens, subject to certain availability restrictions. This distribution model supports the project's goal of widespread ownership and participation.
The Orb and verification process
The role of the Orb
The Orb is an essential component of the Worldcoin verification process. Operated by a network of independent local businesses called Orb Operators, the Orb uses multispectral sensors to confirm the humanness and uniqueness of individuals. Once verified, users receive an Orb-verified World ID.
Privacy and data management
Worldcoin places a strong emphasis on privacy and data protection. Images captured by the Orb are promptly deleted on-device by default, unless users provide explicit consent for data custody. This approach ensures that the verification process respects user privacy while maintaining the integrity of the identity network.