The Ultimate Guide to WorldCoin: What You Need to Know
As the crypto world continues its meteoric rise, it brings forth innovative projects that aim to revolutionize our daily lives. One such noteworthy project is @WorldCoin. This article will delve into the core facets of WorldCoin, encompassing its vision, tokenomics, the insight from Ethereum's co-founder, and its relationship with Optimism.
1. WorldCoin: A Glimpse into the Future
WorldCoin's Mission
WorldCoin is championing the ambitious objective of offering a universal basic income to every individual, ensuring they have the means to address their essential needs.
WorldCoin's Product Suite
World ID: This stands out as their flagship product, essentially acting as a biometric passport. To acquire a World ID, individuals must undergo iris scanning through a specialized device named 'Orb'.
$WLD - WorldCoin Token: The native cryptocurrency symbolizing a user’s participation in the community.
World App: More auxiliary in nature, the exact functionalities of this application are auxiliary to the World ID.
2. Vitalik Buterin's Perspective on Proof-of-Personhood and WorldCoin
In a recent essay, Vitalik delved into Proof-of-Personhood (PoP) protocols, distinguishing them into three categories:
Social-graph based
General hardware-based
Specific hardware-based (specifically WorldCoin)
WorldCoin employs iris scanning, which, although demanding specific hardware (the Orb), offers a higher privacy level than facial scans or video KYC processes. Although this choice may introduce potential centralization risks due to hardware manufacturing barriers, the tradeoff might be worth it. Vitalik envisions a future PoP protocol combining all three types. The real challenge for WorldCoin lies in managing concentration risks while decentralizing further.
3. Delving into $WLD's Tokenomics
Price: $2.28
Market Cap: $228M
Current Supply: 104M
Total Supply: 10B
Fully Diluted Value: $23B
While the discrepancy between the circulating and total supply raises eyebrows, it’s notable that a whopping 75% is earmarked for the community. With an inflation rate capped at 1.5% annually, $WLD's usage encompasses governance, service payments within the ecosystem, and general payments.
4. Where is the 'Smart Money' Moving?
With the $WLD token recently hitting the market, here's a snapshot of two significant early adopters:
Wallet 1
$WLD: $4k
Other Holdings:
$USH ($66k): The utility token for unSHETH, an ETH staking token index.
$oSQTH ($34k)
$RBX ($12k): Associated with RabbitX, a perpetual dex with its app-chain on StarkNet L3s.
Wallet 2
A more straightforward wallet, this investor snapped up around 57k $WLD, approximately valued at $150k, with the only other holding being $USDC.
5. WorldCoin's Symbiosis with Optimism
Data from @DefiLlama highlighted that the daily transaction count on Optimism's mainnet surpassed 600,000 on two instances in July. This surge can be largely attributed to WorldCoin, which recently unveiled its mainnet on Optimism.
In summary, WorldCoin, with its innovative vision of universal basic income and unique take on Proof-of-Personhood, is certainly a project to watch. Its collaboration with Optimism and the backing of significant 'smart money' wallets further validate its potential in the evolving crypto landscape.
The Ultimate Guide to WorldCoin: What You Need to Know
As the crypto world continues its meteoric rise, it brings forth innovative projects that aim to revolutionize our daily lives. One such noteworthy project is @WorldCoin. This article will delve into the core facets of WorldCoin, encompassing its vision, tokenomics, the insight from Ethereum's co-founder, and its relationship with Optimism.
1. WorldCoin: A Glimpse into the Future
WorldCoin's Mission
WorldCoin is championing the ambitious objective of offering a universal basic income to every individual, ensuring they have the means to address their essential needs.
WorldCoin's Product Suite
World ID: This stands out as their flagship product, essentially acting as a biometric passport. To acquire a World ID, individuals must undergo iris scanning through a specialized device named 'Orb'.
$WLD - WorldCoin Token: The native cryptocurrency symbolizing a user’s participation in the community.
World App: More auxiliary in nature, the exact functionalities of this application are auxiliary to the World ID.
2. Vitalik Buterin's Perspective on Proof-of-Personhood and WorldCoin
In a recent essay, Vitalik delved into Proof-of-Personhood (PoP) protocols, distinguishing them into three categories:
Social-graph based
General hardware-based
Specific hardware-based (specifically WorldCoin)
WorldCoin employs iris scanning, which, although demanding specific hardware (the Orb), offers a higher privacy level than facial scans or video KYC processes. Although this choice may introduce potential centralization risks due to hardware manufacturing barriers, the tradeoff might be worth it. Vitalik envisions a future PoP protocol combining all three types. The real challenge for WorldCoin lies in managing concentration risks while decentralizing further.
3. Delving into $WLD's Tokenomics
Price: $2.28
Market Cap: $228M
Current Supply: 104M
Total Supply: 10B
Fully Diluted Value: $23B
While the discrepancy between the circulating and total supply raises eyebrows, it’s notable that a whopping 75% is earmarked for the community. With an inflation rate capped at 1.5% annually, $WLD's usage encompasses governance, service payments within the ecosystem, and general payments.
4. Where is the 'Smart Money' Moving?
With the $WLD token recently hitting the market, here's a snapshot of two significant early adopters:
Wallet 1
$WLD: $4k
Other Holdings:
$USH ($66k): The utility token for unSHETH, an ETH staking token index.
$oSQTH ($34k)
$RBX ($12k): Associated with RabbitX, a perpetual dex with its app-chain on StarkNet L3s.
Wallet 2
A more straightforward wallet, this investor snapped up around 57k $WLD, approximately valued at $150k, with the only other holding being $USDC.
5. WorldCoin's Symbiosis with Optimism
Data from @DefiLlama highlighted that the daily transaction count on Optimism's mainnet surpassed 600,000 on two instances in July. This surge can be largely attributed to WorldCoin, which recently unveiled its mainnet on Optimism.
In summary, WorldCoin, with its innovative vision of universal basic income and unique take on Proof-of-Personhood, is certainly a project to watch. Its collaboration with Optimism and the backing of significant 'smart money' wallets further validate its potential in the evolving crypto landscape.
Continue reading
Continue reading
The Ultimate Guide to WorldCoin: What You Need to Know
Aug 16, 2023
The Ultimate Guide to WorldCoin: What You Need to Know
Aug 16, 2023