Worldcoin is nestled within the Ethereum blockchain and its beta launch occurred on 24 July 2023. One of the most unique qualities of Worldcoin is that users can receive a free token simply by proving that they are human (the founders use the term "uniqueness" to describe this concept). Furthermore, portions of additional tokens can be received by opening their dedicated World App periodically. Each utility token is currently worth $2.36 dollars and more than 112 million tokens are in circulation.
A Bit About Worldcoin
While still in its beta testing phases, a handful of features have already enabled Worldcoin to stand out from other currencies. Unlike altcoins such as Cosmos, Polkadot and Ethereum, users can obtain free tokens simply by proving that they're human as opposed to robots.
Worldcoin is the brainchild of a firm known as Tools for Humanity and it was originally founded in 2019 by Sam Altman (of OpenAI fame). In some ways, we can think of Worldcoin as a pushback against the growing presence of artificial intelligence within the online community. Some could also argue that this token represents one of the first efforts to truly democratize cryptocurrencies by providing anyone with access to a portion of its total market cap.
One of the most anticpated coins of 2023!CryptoLists.com
Worldcoin is known as a a biometric cryptocurrency. This is another way of stating that users will need to prove that they are human in order to obtain tokens. Worldcoin works in tandem with a software platform known as an Orb. Orbs are independently operated systems that are used to scan the iris of an individual. Once his or her unique identity has been confirmed, a Worldcoin will be rewarded.
Another interesting aspect of this token is that it has been directly linked to an Android and iOS application known as the World App. This app can be used to access one's account as well as to purchase future tokens when (and if) Worldcoin breaks into the mainnet.
Utility of Worldcoin?
Worldcoin serves a number of purposes. We can argue that the most important is that (as mentioned earlier) its founders seek to provide everyone with the ability to own tokens without having to make an initial purchase. Having said this, there are additional uses that are entirely unique to WLD.
During beta testing, it's possible for current Worldcoin owners to claim an additional token each week by logging into their World App account and using the Orb verification system. This essentially signifies that it could be possible to accumulate a fair amount over time. This type of generosity isn't often seen with other altcoins.
In terms of real-world applications, Worldcoin should offer several practical uses. For instance, its owners state that token holders will be in direct control of future WLD protocols. They can also determine what future purposes Worldoin will serve.
Specific instances such as tipping digital artists, making online payments, long-term investing, and even purchasing other cryptocurrencies are highlighted throughout the official website.
Worldcoin Price details
ETH Contract address: 0x163f8c2467924be0ae7b5347228cabf260318753
›› Details & Tokenomics
Advantages of Worldcoin
+ Worldcoin tokens can be obtained for free after confirming your identity.+ This project has already received a great deal of public attention.
+ Worldcoin insists that they will never share personal information.
+ Users aren't obligated to purchase additional tokens in the future.
+ Worldcoin offers on-the-go access thanks to a handy mobile application.
Disadvantages
- This token isn't available to citizens of the United States.- Regulators are already concerned about potential privacy issues.
- There isn't any clear date when Worldcoin is set to go live.
- Standard KYC verification isn't accepted by Worldcoin.
- Only a small percentage of tokens are in current circulation.
Costs
▪ Rated at 9/10One of the few downsides associated with Worldcoin at the moment is that the transaction fees aren't entirely clear. This can be summarized by quoting a single sentence found within their official terms and conditions:
"We will let you know of any applicable fee before you make a transaction."
This is a bit frustrating when we consider that third-party crypto wallets and specific payment methods (such as credit cards) are likely to charge additional commissions per transaction. However, such ambiguity could simply be due to the fact that Worldcoin is in beta testing. Assuming that it becomes listed on the Ethereum mainnet (through the use of ERC-20 tokens), we're likely to be provided with more clarity.
Reputation and Buzz
▪ Reputation rated at 9.5/10▪ Buzz rated at 10/10
Worldcoin has already garnered a fair amount of public intention. Not only is this due to the fact that users can receive free tokens, but it also involves the use of retinal scanning to verify individual identities.
Some countries (such as France) have begun to question whether or not this type of data collection could potentially violate personal privacy.
The WLD project has also faced scrutiny within some forums because it's linked with one of the founders of OpenAI (a system that has been receiving a fair amount of criticism in its own right).
However, certain areas of the world such as Africa and India have witnessed flocks of users scrambling to become involved with one of the few crypto ventures that offers free tokens to anyone simply for joining.
FAQ
How do I sign up for Worldcoin?
You'll first need to download the official World App. You can then sign up for a World ID by verifying your identity through the use of an Orb retinal scan. Once you've been verified as a new member, you'll receive a free share of WLD.
I'm wary about a retinal scan. Are there any other ways to verify my identification?
At the moment, it's only possible to create a Worldcoin account by using the biometric Orb system. We aren't certain if other alternatives will be made available in the near future.
Will the value of Worldcoin increase?
Much like any other altcoin, there aren't any guarantees that the value of your token(s) will increase. This will depend on variables such as the number in circulation, public interest, apps within the development community, and how many World ID holders exist.
History of Worldcoin
24 July 2023 - Worldcoin officially enters into the beta testing phase-
25 July 2023 - The one-day volume of Worldcoin reaches an initial high of $649.34 million dollars.
29 July 2023 - A total of 887,497 Worldcoin transactions have been made since its launch.
Screenshots from Worldcoin
More sites where to buy/sell/trade Worldcoin
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
Worldcoin details and tokenomics
OP Contract address: 0xdc6ff44d5d932cbd77b52e5612ba0529dc6226f1
