All cryptocurrencies aim to bring innovations when they are launched and improve their offerings from other crypto projects. In this way, they will manage to stand out from the crowd. Worldcoin (WLD) has understood this fact, and because of this, it has innovative features and has transformed into a revolutionary digital currency. The mission of Worldcoin is to reshape the global economy and pave the way for more inclusivity.
Worldcoin wants to achieve this goal by creating a borderless financial system where businesses and individuals will thrive. Among the core values of this platform are trust, transparency, and sustainability. In this way, transactions with the platform’s native token, the WLD token, are conducted with more responsibility and integrity. This can make more investors interested in adding WLD tokens to their portfolio after checking the Worldcoin price.
In this article, we will explore the core fundamentals of Worldcoin, so keep reading to learn more.
The Story of Worldcoin
Worldcoin was introduced to the world on July 24, 2023, and it has gained instant attention because of its different features. The goal of this crypto project was to address income inequality, and it could do this with the help of the World ID. After developing for 2 years, Worldcoin managed to stay true to its values by creating an open-source protocol that could become a global economy with the help of decentralization. Additionally, this platform truly supported the notion of decentralization, as the decision-making and supervision were in the hands of the global community.
Worldcoin has many important parts that support its evolution, such as the World ID, the WLD tokens, and the World App. With the World ID, users can verify their human identity using iris-scanning technology.
Discovering the Unique Identification Method Used by the Platform
Worldcoin has a unique identification method, as it scans the eyes of users thanks to special devices called Orbs. With this approach, Worldcoin introduces the concept of “personhood” that ensures the people who access the platform are human beings and not robots. With this, Worldcoin prevents fraudulent activities.
Worldcoin prioritizes privacy, and because of this, the platform doesn’t require users to disclose their personal information, such as phone number, email, or name. It works with cryptography and blockchain technology, and its goal is to provide access to a global economy. If it manages to meet all its objectives, then Worldcoin could become a large financial and identity network and allow a high level of accessibility.
What is the Mission of Worldcoin?
Overcoming Income Inequality
Among Worldcoin’s most important missions was to address income inequality, which we must admit is present everywhere. But thanks to World ID, which differentiates human beings from robots, Worldcoin managed to overcome some of these problems while ensuring a fair distribution of its native tokens.
Worldcoin wants to be a financial network and identity platform where anyone can participate, regardless of where they live or their economic background.
The Possibility to Add Wld Tokens to Your Portfolios Without an Initial Investment
Worldcoin also allows users to participate in this space in an accessible manner. This is no longer the case when investing in other established cryptocurrencies, like Bitcoin and Ethereum, whose values have risen tremendously over the years.
However, Worldcoin offers individuals a token with an upfront investment, which makes the WLD token suitable for a wide variety of individuals globally. This brings a lot of decentralization to the landscape and opens the door to many possibilities.
How Does Worldcoin Function?
Orbs
Orbs are an important element of the Worldcoin platform that ensures the unique identification method. Orbs scan the irises of individuals, and this provides the personhood of participants, and it also ensures that a person can only sign up once. This is a great protection tool, and it reduces the risk of fraud or duplication. Plus, Worldcoin claims that the images taken by Orbs are deleted by default, which is meant to offer privacy. Furthermore, participants won’t need to reveal other personal information, such as their phone number, name, or email.
World Id, World App, and Wld Tokens
The three main elements of Worldcoin are the World ID, the WLD tokens, and the World App. Thanks to Orbs, after individuals scan their irises, they receive a unique World ID.
This ID is acquired thanks to the Worldcoin App, which now functions on the Polygon blockchain. WLD tokens have a capped supply of 10 billion and will be released over 15 years.
What Can the Future of Worldcoin Look Like?
In the future, Worldcoin can meet several scenarios, but the best one would be to transform its goal of becoming a global economy into a reality. If it meets this, Worldcoin would need to monitor its development and progress. Other than this, Worldcoin needs to continue complying with the regulatory standards and constantly look for ways to improve.
Conclusion
Before deciding to take the first steps into the crypto realm, you must have a good grasp of the crypto projects you are interested in and keep track of everything new that occurs in this space. For example, in the case of Worldcoin, interested individuals can find the latest information about Worldcoin on its website or social media platforms. Other than this, if people want to add WLD tokens to their portfolios, they need to keep constant track of their price so that they can see the general perception of people and the viability of this project. In this way, investors can make more informed decisions, which will greatly help them in the future.
Another essential fact to keep in mind is the regulatory landscape, which ensures that Worldcoin continues to comply with laws and focuses on user privacy. If it has the support of a larger audience, Worldcoin has the potential to increase significantly and become a global economy.
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