Worldcoin (WLD) is a cryptocurrency and blockchain project with a mission to create a fair and equitable financial platform for everyone. This project has garnered significant interest from many investors and global partners.
To better understand Worldcoin (WLD) and also information related to the project, please follow the content below of AZcoin!
What is Worldcoin (WLD)?
Worldcoin (WLD) is a blockchain project focused on creating a global network for identity and finance accessible to everyone. The project aims to address issues such as identity verification, universal basic income (UBI) distribution, and enhancing access to financial services for billions of people worldwide.
Development team, investors & partners
Development team
The Worldcoin development team is composed of experts from various fields including technology, finance, and economics. Notable among them are:
- Sam Altman: Founder of Worldcoin and currently CEO of OpenAI, the company behind the popular AI tool ChatGPT.
- Alex Blania: Co-founder of Worldcoin and CEO of the project.
Investors & partners
Worldcoin has successfully raised $115 million in its recent Series C funding round, led by Blockchain Capital with participation from a16z, Bain Capital Ventures, and Distributed Global.
Previously, Worldcoin also raised $100 million in March 2022 and $25 million in October 2021 in earlier funding rounds, with participation from leading crypto investment funds such as Coinbase Ventures, CoinFund, HASHED, …
Currently, Worldcoin is collaborating with Optimism to deploy their two main products, World ID and World App, on the mainnet of this Layer 2 blockchain.
How does Worldcoin work?
To verify identity on Worldcoin, users need to create a private key and public key through the World App. They then visit an Orb-equipped location to scan their iris. Upon successful verification, users are certified as real humans and receive their World ID, akin to a global digital passport.
The identity verification process using Orb is as follows:
- The Orb scans and captures the user’s iris.
- The iris image is converted into a hash function and sent to Worldcoin servers for registration.
- If not registered, the hash function is added to the Worldcoin database and blockchain.
- Users receive free WLD tokens and their own World ID to access the Worldcoin World App.
Outstanding products of Worldcoin
Worldcoin has developed and deployed several notable products to meet the community’s needs, including:
- World ID: Worldcoin’s unique identity verification system. Combining iris scanning technology with AI algorithms, World ID ensures high authentication and security for users.
- Orb: Orb is a mobile device used by Worldcoin to scan users’ irises and verify their identities. This compact, user-friendly device is capable of offline operation and plays a crucial role in ensuring the security and decentralization of the World ID system.
- World App: A self-custodial asset storage application that allows users to make payments, shop, and transfer funds globally using Worldcoin tokens, digital assets, stablecoins, and traditional currencies.
- Worldcoin token: This is the first globally distributed token provided free to everyone, aimed at providing future benefits and governance. Each individual is eligible to receive it only once.
Basic information about WLD token
WLD token key metric
- Token Name: Worldcoin
- Ticker: WLD
- Blockchain: Ethereum, Optimism
- Contract:
- Ethereum: 0x163f8C2467924be0ae7B5347228CABF260318753
- Optimism: 0xdC6fF44d5d932Cbd77B52E5612Ba0529DC6226F1
- Token Type: ERC-20
- Total Supply: 10,000,000,000 WLD
- Circulating Supply: Updating…
Allocation of WLD tokens
- Worldcoin Community: 75%.
- TFH Investors: 13.5%.
- Initial Development Team: 9.8%.
- TFH Reverse: 1,7%.
Case of using WLD token
The WLD token can be used for the following purposes:
- Holders of WLD tokens can participate in governance and vote on platform changes.
- It is used to pay transaction fees for activities on the World App.
- Users can store WLD tokens as assets and use them to perform activities such as transferring funds, buying goods, and accessing services on the World App.
Where to buy and sell WLD tokens?
You can buy and sell WLD tokens on several best crypto exchanges such as Binance, OKX, Gate.io, Huobi, and Bybit. Before trading, it’s advisable to check the availability of WLD on these exchanges and choose one that suits your needs and trading preferences.
In which wallet to store WLD tokens?
Similar to the DXDY token, the WLD token can be stored in any wallet that supports the ERC-20 standard, such as MyEtherWallet, MetaMask, or Ledger Nano S. Storing WLD tokens in these wallets ensures safety and security for users.
Should you invest in Worldcoin or not?
Investing in Worldcoin is a serious decision that requires careful consideration. It’s crucial to thoroughly research the technology and development potential of the project, as well as to conduct a risk evaluation process and assess current trends in the cryptocurrency market. This market is highly volatile and there are many factors to consider before making an investment decision.
The end
Here is some basic information about the Worldcoin project, covering the development team, products, and details about the WLD token. Investing in it requires careful consideration based on factors such as the team, products, token, and development potential. AZcoin hopes this article has provided you with an overview of the project and helped you make informed investment decisions.
I am Louis Dang, living in Ottawa, Canada. I am currently working as a trader for AZCoin company, with 7 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
