Worldcoin WLD
About
What Is Worldcoin (WLD)?
The mission of the Worldcoin project is to build the world’s largest identity and financial network as a public utility, giving ownership to everyone.
The Worldcoin system revolves around World ID, a privacy-preserving global identity network. World ID enables users to verify their humanness online ("Proof of Personhood") while maintaining their privacy through zero-knowledge proofs.
To engage with the Worldcoin protocol, individuals must first download World App, the first wallet app that supports the creation of a World ID. Individuals visit a physical imaging device called the Orb to get their World ID Orb-verified. Most Orbs are operated by a network of independent local businesses called Orb Operators. The Orb uses multispectral sensors to verify humanness and uniqueness, with all images being promptly deleted on-device per default (absent explicit consent to Data Custody).
All Orb-verified World IDs holders are entitled to claim recurring grants of free WLD tokens (WLD tokens are not available in the US; see the Worldcoin Tokenomics section of the project's whitepaper for details). This has the potential to make WLD the most widely distributed digital currency.
The WLD token is designed as a utility token with governance properties, empowering users by giving them a say over the future of the protocol. Beyond conventional "one-token-one-vote" governance mechanisms, the introduction of World ID paves the way for "one-person-one-vote" mechanisms. These two mechanisms can also be combined to enable new ways of governance. After launch, the Worldcoin Foundation will solicit proposals and work with the community on how World ID and the WLD token should interact in Worldcoin's governance model (see the project's whitepaper for details on governance and decentralization).
The community of users will determine the token's utility, but a few other use cases in addition to governance could emerge. For example, users may decide to use the WLD token to pay for certain actions in World App or another wallet app, to make other payments, or to signal their approval for certain initiatives or causes.
WLD is an ERC-20 token on Ethereum. Individuals will receive their user grants on Optimism Mainnet. Therefore, most WLD transactions will likely take place on the Optimism network.
Who Are the Founders of Worldcoin?
Worldcoin was founded by Sam Altman, Alex Blania, and Max Novendstern (Max Novendstern left the project in July 2021). The most well-known of the co-founders, Sam Altman, is also the co-founder and current CEO of OpenAI and former president of Y Combinator, a startup incubator. Initial research and development for the Worldcoin project was conducted by Tools for Humanity (TFH) and other partners.
Worldcoin has raised over 250M USD across several funding rounds from investors such as a16z, Khosla Ventures, Bain Capital Crypto, Blockchain Capital, and Tiger Global, among others.
What Makes Worldcoin Unique?
Worldcoin aims to build the world's largest identity and financial network, achieving truly global adoption at a billion-people scale. In contrast to most other crypto projects, the majority of the WLD tokens will be given to individuals - simply for being human.
Using World ID, individuals will be able to prove that they are a real, unique human to any platform that integrates with the protocol, including to web3 systems, social networking sites, and governmental programs. This will enable fair airdrops or token/NFT sales, provide protection against bots/sybil attacks on social media, and enable the fairer distribution of limited governmental resources. Furthermore, World ID can also enable global democratic processes and novel forms of governance (e.g., via quadratic voting), and it may eventually support a path to AI-funded UBI.
Over two million people from more than 30 different countries across five continents have verified at an Orb during the pre-launch phase, which lasted from May 2021 untill July 2023. At launch, Worldcoin begins the rollout of 1,500 Orbs across 35+ cities in 20+ countries to meet the global demand for World ID.
How Many Worldcoin (WLD) Tokens Are There in Circulation?
The initial total supply of Worldcoin is 10 billion WLD.
For 15 years following launch, the supply cap is fixed to 10B WLD (enforced by the WLD smart contract). After 15 years, governance may decide to implement an inflation rate of up to 1.5% per year if it deems necessary for the long-term sustainability of the protocol. Governance will also decide how to allocate these newly minted tokens (if any). The inflation cap of 1.5% per year is enforced by the WLD smart contract. Per default, unless changed via governance, the inflation rate is set to 0%.
The 10B WLD tokens are allocated to different stakeholders as follows:
- 75% of the WLD tokens are allocated to the Worldcoin community.
- 9.8% of the WLD tokens are allocated to the Initial Development Team.
- 13.5% of the WLD tokens are allocated to TFH Investors.
- 1.7% of the WLD tokens are allocated to the TFH Reserve.
The Worldcoin Foundation has formulated an aspirational token allocation goal, aiming to allocate at least 60% of all WLD tokens (coming from the Worldcoin Community pool) to individuals in the form of user grants. See the Worldcoin Tokenomics section of the project's whitepaper for details.
For live on-chain data about WLD, see this Dune dashboard.
How Is the Worldcoin Protocol Secured?
The WLD token contract is deployed on Ethereum Mainnet and the token is bridged to the Optimism “layer 2” network. It therefore inherits the security properties of these two blockchains.
AI Analysis
What is the Worldcoin (WLD) cryptocurrency good for? What are its main use cases?
Worldcoin (WLD) is a cryptocurrency project developed by Tools for Humanity, co-founded by Sam Altman (former CEO of Y Combinator and co-founder of OpenAI). Its primary goal is to create a global, decentralized identity and financial system that ensures one person, one vote in the digital economy while distributing wealth more fairly.
Key Use Cases of Worldcoin (WLD):
Universal Basic Income (UBI) Distribution
- Worldcoin aims to distribute free WLD tokens to verified humans (via iris scanning) to promote economic equality.
- The project claims to have already distributed millions of WLD tokens to users in various countries.
Decentralized Identity Verification
- Uses biometric verification (iris scanning) to prevent Sybil attacks (fake identities) in Web3.
- Helps prevent bots and fraud in decentralized applications (dApps).
Governance & Voting in Web3
- WLD holders can participate in decentralized governance (e.g., voting on protocol upgrades).
- Ensures one human, one vote rather than wealth-based voting power.
Staking & Earning Rewards
- Users can stake WLD to earn rewards and support the network.
- Stakers help secure the blockchain and earn passive income.
Interoperability with Other Blockchains
- WLD is built on Ethereum (ERC-20) and can be used across multiple chains.
- Can be integrated into DeFi, NFTs, and other Web3 applications.
Anti-Fraud & Fair Distribution
- The iris-scanning system prevents duplicate accounts, ensuring fair token distribution.
- Helps combat bot-driven inflation in crypto economies.
Potential Future Use Cases:
- Cross-border payments (if adopted widely).
- Access to decentralized services (e.g., DAOs, social networks).
- Proof of humanity for privacy-preserving applications.
Criticisms & Challenges:
- Privacy concerns over iris scanning.
- Centralization risks (Tools for Humanity controls the initial distribution).
- Adoption hurdles (needs widespread participation to be effective).
Conclusion:
Worldcoin (WLD) is designed to combat wealth inequality, prevent fraud, and enable fair governance in Web3. Its success depends on mass adoption and trust in its verification system. If it achieves its goals, it could become a key player in decentralized identity and UBI systems.
Would you like a deeper dive into any specific aspect?
What blockchain does Worldcoin use? Is it its own blockchain or built on top of another?
Worldcoin uses its own blockchain, which is built on top of the Ethereum Virtual Machine (EVM) but operates as a separate, independent blockchain. Here’s a breakdown of how it works:
Custom Blockchain with EVM Compatibility – Worldcoin’s blockchain is designed to be EVM-compatible, meaning it can run Ethereum smart contracts and tools (like MetaMask) but operates independently of Ethereum’s mainnet.
Proof-of-Personhood (PoP) Integration – The blockchain is specifically built to support Worldcoin’s unique Proof-of-Personhood system, which verifies unique human identities to prevent Sybil attacks (where one entity creates multiple fake identities).
Separate from Ethereum Mainnet – While it leverages EVM compatibility for developer familiarity, Worldcoin’s blockchain is not a layer-2 or sidechain of Ethereum. It functions as a standalone network with its own consensus mechanism (likely a variant of Proof-of-Stake or a custom system).
Token: WLD – The native cryptocurrency of the Worldcoin ecosystem is WLD, which is used for governance, staking, and transactions on the network.
Why a Custom Blockchain?
Worldcoin’s goal is to create a global identity and financial inclusion system, which requires a blockchain optimized for scalability, privacy, and identity verification—features that may not be fully available on existing blockchains like Ethereum or Solana.
Future Plans
Worldcoin has hinted at potential interoperability with other blockchains (e.g., Ethereum via bridges) but currently operates as a standalone network.
Would you like details on how its Proof-of-Personhood system works?
Is Worldcoin programmable? Does it support smart contracts or decentralized applications?
Yes, Worldcoin is designed to be programmable and supports smart contracts and decentralized applications (dApps). Here’s how it works:
1. Smart Contracts on Worldcoin
- Worldcoin is built on a proof-of-stake (PoS) blockchain (initially using the OP Stack, a modular blockchain framework).
- It supports EVM (Ethereum Virtual Machine) compatibility, meaning developers can deploy Solidity-based smart contracts and port existing Ethereum dApps.
- The blockchain is modular, allowing for customization of execution, consensus, and data availability layers.
2. Decentralized Applications (dApps)
- Since Worldcoin is EVM-compatible, developers can build decentralized finance (DeFi), NFTs, DAOs, and other dApps using familiar tools like MetaMask, Hardhat, and Foundry.
- The World App (the official wallet and identity verification app) can interact with these dApps, leveraging its proof-of-personhood system for unique use cases.
3. Unique Features for Programmability
- Proof-of-Personhood (PoP): Worldcoin’s identity verification system can be integrated into dApps to ensure one person, one vote in governance or fair distribution of tokens.
- World ID: A privacy-preserving identity system that can be used for sybil-resistant applications (e.g., airdrops, voting, or exclusive access).
4. Current Status (2024)
- Worldcoin’s mainnet is still in development, but testnets and early versions support smart contracts.
- The team is working on scalability, security, and decentralization before full launch.
Conclusion
Worldcoin is programmable and supports smart contracts & dApps, making it a potential platform for identity-based decentralized applications. However, its full capabilities will be realized once the mainnet is fully operational.
Would you like details on how to develop on Worldcoin?
How fast are Worldcoin transactions? What is the typical confirmation time and throughput (transactions per second)?
Worldcoin, a cryptocurrency project associated with the Worldcoin Foundation (backed by Tools for Humanity), is designed to be a proof-of-personhood (PoP) based digital currency. However, as of mid-2024, Worldcoin is still in its early stages, and its blockchain infrastructure is not yet fully decentralized or widely adopted.
Current Transaction Speed & Confirmation Time
Transaction Speed (Throughput)
- Worldcoin is built on a proof-of-stake (PoS) blockchain, but exact throughput (transactions per second, TPS) has not been officially disclosed.
- Early testnet data suggests it aims for high scalability, potentially supporting thousands of TPS (similar to other PoS chains like Solana or Polygon).
- However, real-world performance will depend on network adoption and optimization.
Confirmation Time
- In PoS systems, block times are typically 1-5 seconds, meaning transactions could be confirmed in a few seconds (similar to Ethereum’s L2 solutions).
- Finality (full security) may take slightly longer (e.g., 1-2 minutes) due to consensus mechanisms.
Comparison to Other Blockchains
| Blockchain | Avg. TPS (Theoretical) | Avg. Confirmation Time |
|---|---|---|
| Bitcoin | ~7 TPS | ~10 minutes |
| Ethereum (L1) | ~15-30 TPS | ~12-15 seconds |
| Solana | ~2,000-65,000 TPS | ~0.4 seconds |
| Worldcoin | Unknown (likely high) | ~1-5 seconds (estimated) |
Key Considerations
- Early-Stage Network: Worldcoin is still in development, so performance metrics may change.
- Proof-of-Personhood (PoP): The unique identity verification system may impact transaction processing differently than traditional blockchains.
- Scalability Goals: The project aims for high throughput to support global adoption.
For the latest updates, check the Worldcoin Foundation’s official documentation or their GitHub repositories.
Would you like details on how Worldcoin’s PoP system affects transaction speed?
How much data can I store on the Worldcoin blockchain? Does it support on-chain data storage?
The Worldcoin blockchain (powered by the World App) is primarily designed for identity verification and decentralized governance, but it does support on-chain data storage to a limited extent. Here’s what you need to know:
1. On-Chain Data Storage Capacity
- The Worldcoin blockchain is built on a proof-of-stake (PoS) consensus mechanism and is optimized for identity verification (via the World ID protocol) and governance.
- Unlike general-purpose blockchains (e.g., Ethereum, Solana), it does not have a large-scale data storage solution like IPFS, Arweave, or Filecoin.
- Smart contracts on Worldcoin can store small amounts of data (e.g., identity proofs, governance votes), but not large files.
2. Off-Chain Storage Options
- For large datasets, Worldcoin likely relies on off-chain storage (e.g., decentralized storage networks like IPFS or Arweave) and only stores hashes or references on-chain for verification.
- The World App may use zero-knowledge proofs (ZKPs) to verify data without storing it directly on-chain.
3. Comparison with Other Blockchains
| Feature | Worldcoin | Ethereum | Solana | Filecoin/IPFS |
|---|---|---|---|---|
| On-Chain Storage | Limited (small data) | Limited (gas costs high) | Limited (cheaper) | No (off-chain) |
| Off-Chain Storage | Likely (via ZKPs) | Yes (IPFS, Arweave) | Yes (Arweave) | Yes (native) |
| Use Case | Identity & Governance | Smart Contracts | High-Speed Apps | Large Files |
4. Future Possibilities
- If Worldcoin expands its use cases (e.g., decentralized identity, governance), it may integrate off-chain storage solutions (like Ceramic Network or Fleek) for scalability.
- ZK-Rollups could allow for more efficient on-chain data verification without bloating the blockchain.
Conclusion
- Small data (e.g., identity proofs, votes) can be stored on-chain.
- Large datasets will likely be stored off-chain with on-chain references.
- For high-capacity storage, consider IPFS, Arweave, or Filecoin alongside Worldcoin.
Would you like details on how to integrate off-chain storage with Worldcoin?
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