Worldcoin $WLD$ token experienced a remarkable $rally$ after its launch, surging from $1.9 to $3.3 within $just$ 2 hours after listing on Gate.io offering $USDT$ trading pairs for spot and future trading.
The emergence of Chat GPT by OpenAI in late 2022 sparked a global AI frenzy. One of the most pressing questions raised $was$ how AI would merge with blockchain technology.
Worldcoin, a project spearheaded by OpenAI founder $Sam$ Altman, represents a significant stride towards AI-Crypto integration. In this post, we will delve into the Worldcoin project, encompassing its use cases, the $WLD$ token, and its groundbreaking approach to digital identities （IDs）.
Worldcoin, the brainchild of Sam Altman, successfully launched its mainnet, leading to an impressive surge in its native $WLD$ token‘s value. Within two hours of the mainnet launch on July 24, as reported by Gate.io data, the WLD token skyrocketed by over 60%, reaching a value of over $3.30.
The Worldcoin project has been in development for over three years, as stated on their official website. According to the team, Worldcoin has the potential to significantly enhance economic opportunities, establish a reliable solution for distinguishing $human$ s from AI online while preserving privacy, enable global democratic processes, and potentially pave the way for AI-funded Universal Basic Income （UBI）.
Worldcoin intends to utilize the Ethereum blockchain to create digital IDs. Users will receive the network native $WLD$ token for verifying their personhood. These Worldcoin-generated IDs prioritize privacy while facilitating the identification of human users and distinguishing them from AI entities in the digital $realm$ , an issue that has become increasingly crucial with the rise of large language models like Chat GPT.
Registering a Worldcoin ID requires a rather unusual process. The project organization, tools for Humanity, plans to distribute a biometric device known as the $Orb$ worldwide. Individuals can book appointments at their nearest Orb location to have their IDs generated.
Reportedly, over two million people have already been scanned and registered using the Orb. Presently, $Orbs$ are available in major cities such as Tokyo, Berlin, Seoul, London, and New York City, with plans to roll out hundreds more in the coming months.
In a blockchain space dominated by acronyms like Proof-of-Work （PoW） and Proof-of- $Stake$ （PoS）, Worldcoin introduces a third option - Proof-of-Personhood （ $PoP$ ）. According to the whitepaper, PoP is an innovative $sys$ - $tem$ that allows Worldcoin to create private, decentralized, and reliable digital IDs.
The PoP sys-tem involves collecting real biometric data using the Orb, thereby bringing IDs into the digital space. Despite the potentially intrusive nature of this process, developers assert that privacy will be maintained through zero-knowledge proofs, which only reveal minimal information about the user to concerned third parties.
While initially based on the Ethereum network, Worldcoin, and its $WLD$ token have now completed a migration to the layer-2 scaling solution, Optimism （ $OP$ ）. This move is expected to reduce fees and improve transaction speeds.
The $WLD$ governance token remains somewhat enigmatic. Launched as an ERC-20 token on July 24th, it was initially priced at around $1.9. However, since its launch, the token has experienced a significant rally and currently trades at approximately $2.2, as of the time of writing. Data indicates that $WLD$ has a maximum supply of 10 billion, with a 24-hour trading volume of $14 million. Additionally, the project has its own wallet, World App, operating on the Polygon （ $MATIC$ ） network, where users can $store$ digital IDs and cryptocurrencies.
The impacts of Open AI large language model have been profound, leading people to question much of what they encounter online. Worldcoin aims to leverage blockchain properties, such as security and decentralization, to create IDs that can protect the digital world from AI-generated fakes. While its ultimate success remains uncertain, the $WLD$ token has undoubtedly started its journey on a strong note.
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