Worldcoin, the crypto initiative led by Sam Altman, has made an exciting advancement with the launch of its WLD token and mainnet. The announcement was made on Twitter, creating huge anticipation among cryptocurrency enthusiasts. The news was first brought to the public’s attention by Semafor, adding to the excitement surrounding Worldcoin’s journey.
On Sunday, users received a mysterious message to update their mobile app with a cryptic call to join the World App on July 24, 2023, at 11 am. This message hinted at a thrilling development in the Worldcoin project.
The launch grants developers access to Worldcoin’s software development kit (SDK), allowing them to create unique tools and applications using the project’s innovative identity protocol called World ID. To attain full verification, users are required to have their irises scanned by the Orb, a specially designed device that generates a unique identifier without storing any related data.
The WLD token, designed based on the Ethereum ERC-20 model, will undergo a transformation. Beta tokens can be used within the World App or transferred to other platforms. Tiago Sada, the head of product, engineering & design at Tools for Humanity, mentioned that the future listing of Worldcoin on exchanges will be determined by other parties involved, indicating the protocol’s dependence on the developers.
In addition to the token launch, Worldcoin is migrating to the Optimism network, a Layer 2 scaling solution for Ethereum. The company also plans to increase the availability of the Orb device globally. Currently, only 200 Orbs have been released, scanning over 2 million people. By the end of the year, Worldcoin aims to produce 1,500 Orbs, offering scheduled appointments and pop-up opportunities.
Worldcoin’s initiative is led by Sam Altman, co-founder of Open AI. The project received a $115 million Series C funding in May, with support from prominent players such as Blockchain Capital, a16z, Bain Capital Crypto, and Distributed Global.
Co-founder Alex Blania emphasized the importance of privacy-first, decentralized, and inclusive proof of personhood solutions in the age of AI. The project’s tokenomics will be revealed later on Monday.
Worldcoin’s potential lies in its ability to increase economic opportunity, establish ways to differentiate humans from AI online, and potentially pave the way for AI-funded universal basic income. The project represents a remarkable global-scale experiment, although the outcome remains uncertain. Nevertheless, it brings an inspiring vision to the forefront of our technological age.
