The inception of WorldCoin
You cannot talk about identification and fail to talk about WorldCoin Cryptocurrency technology. A tech that is changing the landscape of identity.
The mission is to build the world’s biggest and largest financial network aimed at serving as a public utility with an impact of giving ownership to every individual in the ecosystem.
The concept of the “World ID “ is what captures people’s attention.
But should this excite you into buying some world coins or this is a mess of a cryptocurrency or actually it should be trusted.
Today in an ultimate review and investors guide we dig deep to find out what exactly WorldCoin is and it’s future plans.
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How to understand WorldCoin Cryptocurrency Technology
WorldCoin provides a unique use of iris scanning technology that do digital identification.
There is something extra unique about WorldCoin that unlike other traditional digital currencies. This aims at providing decentralized identity and also valuable crypto tokens called $WLD to its users in the ecosystem.
The identification is all done by the use of advanced Artificial Intelligence and iris biometrics.
The use of ai in its systems is not hat actually clarifys it under ai cryptocurrencies.
The WorldCoin uses an Orb which is actually a huge component of the system. This orb is an iris shapped scanner .
This technology scans users’ iris patterns to ensure they are 💯 unique and different from each individual and this controlled Fake ids.
Under WorldCoin ecosystem you cannot expect things like fake IDs and bots.
The orb iris scanning used ensures privacy while validating personal identity.
WorldCoin is looking prioritize decentralized identification and also ensuring high levels of online privacy.
Understanding WorldCoin Blockchain
We must all need to understand that a WorldCoin is made up five basic principles
1. Proof of Humanity protocol
2. world ID
3. world coin cryptocurrency
4. world app
5. universal basic income
As you signup under WorldCoin system, it’s where the iris scanning technology comes in from.
You must be validated by the system that you are unique and no fake ids or multiple.
It’s simple you must first download the app from app stores which is the worldcoin digital wallet.
Then locate a nearby authorized image scanning location by using the app or by visiting the website . This requires you to physically visit authorized locations where hardware device called an ORB will perform an iris scan
How does the Orb look like?
This is actually a silver image scanning sphere that is about the size of a soccer ball. This is so equipped with a high resolution and an ai algorithm that can capture and analyze patterns Olin a person’s iris
The tech of this Orb is highly capable and advanced and can do this in a variety of lighting ranges and also not affected by age or a person’s funny appearance
This seems to be completely better than traditional scanners and biometric authentication systems available in society. Such as facial recognition programs.
WorldCoin Blockchain
There is a cryptographic hash generated that anonymizes the data scanners collect
Then this hash us sent to the WorldCoin network wich uses zero knowledge proof to determine whether or not a specific iris hash is unique.
If the hash is unique then a person being scanned is provided the id and if the hash is not unique then the system allocates it as fake or multiple .
The allocation of an ID to a person is called Proof of Personhood (PoP) this identification data is stored on the decentralized blockchain
This kind of an ID is then used to indenting yourself or access financial services , verify payments online or online purchases .
What is WorldCoin Cryptocurrency Market and Position ?
WorldCoin is trading at over 6.4$ as of Today on 6Th May 2024. This is having a MarketCap of over 1.3Billion dollars
The daily volume of trades per 24 hours is over $525.34 million dollars with a circulation supply of over 202.58 million dollars.
It should be well remembered that WorldCoin hit its ATH value around March 10 2024 at just 11.85$ which made so many traders millionaires and there lives have never been the same.
Does the WorldCoin still have a great future ahead in terms of price?
Further more information to be revealed.
WorldCoin has a total Maximum supply of 10,000,000,000 WLD TOKENS
WorldCoin has extremely grown to a huge number of users and holders . Apparently it has over 21,192 people according to etherscan. With over 166,877 transfers.
WorldCoin is apparently ranking at Number 7 at cryptoslate
And Ranking at 70 on coinmarketcap.
This is the Future of WorldCoin Cryptocurrency
Previously WorldCoin Foundation surprised everyone with announcements
1. WorldCoin is opening new applications for wave1 of the WorldCoin founds community grants program
2. WorldCoin is introducing a new blockchain that is designed to serve humans.
This introduced grant is aimed at supporting infrastructure, projects and research that help WorldChain scale to serve billions of people and improve their onchain experiences.
The applications for the grants weee opened up on May 24th 2024
This also takes me to grants to let you know they are available
WorldCoin utility and real World Applications
It’s important to know what it stands for. And as a unique digital identity system, the world ID represent a significant innovation in the digital and financial ecosystem.
The world ID is to establish a proof of personhood. Users can now verify there identity online while maintaining there privacy.
This has grown in various countries with orb locations in various locations
1. Argentina
2. Brazil
3. Chile
4. France
5. Germany
6. HongKong
7. India
8. Japan
9. Kenya
10. South Africa
11. Mexico
12. Portugal
13. Singapore
14. Spain
15. Uganda
16. United Arab Emirates
17. United Kingdom
18. United States
In these above countries you can find a physical orb and do verifications.
It’s important to follow WorldCoin updates to know deleted countries or added counties on the list.
How WorldCoin is changing the identification industry
WorldCoin Is interrupting a lot of Facial Recognition companies such as Cognitec, FaceFirst, iProov, Kairos, Clarifai , TrueFace , SenceTime, Amazon Rekognition etc
This is because it has WorldCoin added facial recognition features to its Global ID system.
This has become a huge competition to traditional Identification Companies that have not first of all added decentralized blockchain to there systems nor artificial intelligence advanced tech that WorldCoin is using
Should you invest in WorldCoin?
Just like any other investment, there are a lot of risks that could be associated with WorldCoin Cryptocurrency, but then it’s historical and evidential that crypto has been so volatile and has made people loose money and some made a lot of money.
To invest in WorldCoin should be your own decision on what you want in life and what you believe in, If you don’t Believe in Decentralized Applications and Privacy and decentralized identification that WorldCoin is here for then why do you invest here?
Investments should go hand in hand with what we value and what we stand for. WorldCoin is made for a group of people who prioritize decentralized identification and privacy ,if you don’t then you will find everything difficult and annoying..
Worldcoin is just just a cryptocurrency for trading but it’s solving real world problems that have existed billion years. It’s a system that is here to stay.
You decision to invest in WorldCoin should give you a peace of mind and not just to wait when the prices goes up for you to dump and run. When the prices don’t pump,it will be a total depression for you.
To individuals interested in WorldCoin after reading this review, please go on and do severe research on how to get started and please remember to invest what your able to loose.
Thanks for reading