The Worldcoin Project Is Live Now! Here Is Everything You Need To Know About It!

In an exhilarating advancement, Sam Altman’s crypto initiative Worldcoin unveiled its WLD token and mainnet, as per their announcement made on Twitter this Monday. Anticipation was sky-high over the weekend after a series of suspenseful tweets, with Semafor first bringing this exciting news to the public.

Users received an interesting message to update their mobile app on Sunday: “It’s time. Join us in the World App. July 24, 2023, 11 am.” The cryptic call promised a thrilling development in the Worldcoin journey.

Open Gate for Developers

Developers are now granted access to Worldcoin’s software development kit (SDK). The beta version of this kit allows the creation of unique tools and apps utilizing the World ID, the project’s innovative identity protocol. To become fully verified, users are required to have their irises scanned by Orb, a custom-made device that generates a unique identifier from human irises without locally processing or storing any related data.

Token Transformation

“Beta tokens will get converted and they’ll be able to use those however they wish inside of World App or take them out elsewhere,” said Tiago Sada, head of product, engineering & design at Tools for Humanity. The token is modelled after the Ethereum ERC-20 design.

Asked about whether Worldcoin will be listed on exchanges, Sada commented, “We’ll see what other parties choose to do.” This suggests that the future of Worldcoin’s application lies largely in the hands of the developers who build with the protocol.

Into the Orb

Alongside the launch, Worldcoin is completing its migration to the Optimism network, a Layer 2 scaling solution for Ethereum. The firm is also amplifying the availability of the Orb device globally. Up to now, only 200 Orbs have been made public, scanning over 2 million people. By the end of the year, the firm aims to produce 1,500 Orbs, offering the option for scheduled appointments in addition to pop-ups.

Behind the Scenes

Sam Altman, co-founder of Open AI, heads Worldcoin. Tools for Humanity, the team powering Worldcoin, secured a $115 million Series C in May, with leading players like Blockchain Capital, a16z, Bain Capital Crypto, and Distributed Global backing the project.

“In the age of AI, the need for proof of personhood is no longer a topic of serious debate; instead, the critical question is whether or not the proof of personhood solutions we have can be privacy-first, decentralized, and maximally inclusive,” stated Worldcoin co-founder Alex Blania. The project’s tokenomics is anticipated to be revealed later on Monday.

With its potential to drastically increase economic opportunity, establish a robust solution for distinguishing humans from AI online, and even pave the way for AI-funded UBI, Worldcoin represents a remarkable experiment at global scale alignment. While the path is challenging and the outcome uncertain, the project brings an inspiring vision to the forefront of our technological age.