Worldcoin is a cryptocurrency initiative co-founded by OpenAI CEO Sam Altman. Its goal is to build a comprehensive global financial and identity network. More specifically, the project aims to distinguish humans from computer programs in the age of artificial intelligence. To achieve this, Worldcoin has developed a Proof-of-Personhood (PoP) mechanism designed to verify the uniqueness and humanity of each user.
How Does Worldcoin (WLD) Work?
Worldcoin’s ecosystem is built on three core components:
World ID
This is a unique digital identity assigned to each user. It is created using Worldcoin's Orb, a device that performs a secure iris scan to generate a unique identification code. This process ensures that only one World ID is issued per person, preventing duplicate entries. After scanning, the iris image is deleted to protect users' biometric data.
World App
Once a user obtains a World ID, they can use the World App. This application is designed for secure authentication, leveraging the cryptographic security of the World ID. It serves as the primary tool for accessing various services and applications within the Worldcoin ecosystem.
WLD Token
Worldcoin (WLD) is the native cryptocurrency token of the ecosystem. It plays a central role in facilitating transactions and incentivizing participants across the platform.
To expand its reach, Worldcoin has strategically placed its Orb devices in major global cities—including Tokyo, Singapore, Mexico City, Paris, New York, and San Francisco—as well as approximately 25 other locations worldwide.
Why Is Proof-of-Personhood Important?
Proof-of-Personhood is essential for maintaining the integrity and inclusivity of digital systems, especially in web3 where user anonymity is often protected. By verifying that users are both human and unique, PoP mechanisms help prevent fraud, identity theft, and system manipulation by bots or malicious actors.
If large numbers of fake bot accounts are created, they can degrade user experience and undermine trust in any platform. This poses significant risks to the personal information and assets of genuine human users. Worldcoin’s iris-code and World ID provide a defense against these threats, helping enhance trust and security within the web3 ecosystem.
What Is the “Orb” in Worldcoin?
The Orb is a proprietary iris-scanning device developed by Worldcoin. As the name suggests, it is spherical in shape. Its function is to scan and capture a user’s unique iris pattern, then convert this biometric image into a digital representation known as an “iris code.”
What Is the “World ID”?
Once a new iris code is registered in Worldcoin’s database, a unique World ID is generated. The World ID acts like a “digital passport,” enabling users to prove their humanity and uniqueness while maintaining privacy. According to Worldcoin, this is achieved through zero-knowledge proofs (ZKPs) and other privacy-preserving cryptographic techniques.
World ID 2.0, a recent upgrade, also allows users to reset their World ID if it is lost or stolen. To deactivate a lost or stolen World ID and obtain a new one, the user simply needs to reverify their iris code using the Orb.
What Is the Tokenomics of Worldcoin (WLD)?
Worldcoin (WLD) was launched on July 24, 2023, with a fixed maximum supply cap of 10 billion WLD tokens over 15 years. After this period, a maximum annual inflation rate of 1.5% may be introduced, if deemed necessary by the protocol’s governance team.
The token allocation is as follows:
- 75% to the Worldcoin community
- 9.8% to the initial development team
- 13.5% to Tools for Humanity (TFH) investors
- 1.7% to the TFH reserve
WLD is an ERC-20 token on both the Ethereum and Optimism mainnets, meaning users can transact with WLD across these two thriving ecosystems.
Is Worldcoin (WLD) a Good Investment in 2024?
Worldcoin’s recent surge has captured the attention of many investors. However, since its launch in July 2023, WLD experienced several months of limited momentum and relatively stable, low valuation. A slight rally occurred in mid-December, when the token briefly reached $4.30. This uptick hinted at a minor recovery in the crypto market and suggested potential synergies between AI and web3 technologies.
Still, Worldcoin faced a downward trend between December 2023 and February 2024. Then, in February, the AI narrative shifted dramatically, leading to a substantial and sustained climb—culminating in a new all-time high on February 19, 2024. This surge coincided with an influx of new AI-related tokens, indicating continued capital deployment and strong optimism toward the AI sector.
Backed by its iris-scanning Orb technology, Worldcoin may continue to be a dark horse among AI-related tokens in the coming weeks. With its technical foundation and growing community interest, Worldcoin has the potential to carve out a significant niche in the crypto space. That said, sharp price increases are almost always followed by corrections. Investors must remain aware of the market’s inherent volatility and perform their own research.
Which Wallet Is Best for Worldcoin (WLD)?
The ideal wallet for Worldcoin (WLD) depends on individual preferences, weighing factors like security, user-friendliness, account recovery options, and multi-token support. That said, for both holding and trading WLD—as well as other Ethereum and Optimism-based assets—a versatile and secure wallet is essential.
👉 Explore secure wallet options for managing digital assets
A good multi-chain wallet allows users to interact seamlessly across more than 100 mainnets, simplifying cross-chain transactions and multi-currency management. Broad mainnet support requires compatibility with a wide range of cryptocurrencies—including Worldcoin (WLD)—making such wallets a one-stop solution for asset management. This flexibility streamlines the trading process and offers greater accessibility for users looking to maximize their investment opportunities.
Additionally, with support for Ethereum and Optimism DApps, the right wallet can significantly enhance your overall crypto experience.
For these reasons and more, many users choose wallets that support iOS, Android, and browser extensions. Over 15 million users worldwide already rely on such solutions for a secure and user-friendly crypto management experience.
How to Interact With Worldcoin (WLD) Using a Crypto Wallet
How to Create a Worldcoin (WLD) Wallet
- Download and install a supported Web3 wallet from your device’s app store or official website.
- Open the application and select “Create a New Wallet.”
- Once created, navigate to the wallet management page and add “Optimism” from the list of available mainnets.
- You’ve now successfully created an Optimism-compatible Web3 wallet. You can add WLD tokens via the “Token Management” section.
How to Buy Worldcoin (WLD)
Before purchasing Worldcoin (WLD), you must first hold a compatible cryptocurrency like ETH on the Optimism mainnet. If you don’t already have these assets, some wallets offer built-in OTC services that allow you to buy crypto using fiat currency. These services often accept payment methods such as Visa, Mastercard, Apple Pay, Google Pay, and regional credit cards.
- Open your wallet and go to the main wallet page. Select the “Buy” option.
- Choose your preferred fiat currency and select “ETH (Optimism)” from the dropdown menu.
- Enter the amount you wish to purchase, confirm the transaction, and choose your payment method.
- Once the transaction is complete, the ETH will appear in your wallet.
- To buy WLD, click on “Market” or “Swap,” search for “WLD,” and select “Buy” to initiate the trade.
How to Deposit Worldcoin (WLD) Tokens Into Your Wallet
To transfer WLD from another wallet or exchange:
- On your wallet’s homepage, select “Receive.”
- Choose the Optimism network and locate WLD from the token list.
- Copy your WLD wallet address or use the QR code for easier transfers.
- From your exchange or other wallet, initiate a withdrawal or transfer and paste your WLD address.
Always double-check the address and confirm network compatibility before finalizing any deposit.
How to Withdraw Worldcoin (WLD) From World App to Another Wallet
To withdraw WLD from your World App:
- Open the World App and go to the wallet page. Select “Withdraw.”
- Choose your preferred withdrawal destination. To withdraw to a external wallet, select “Crypto Wallet.”
- Pick “Other Optimism Wallet” and enter your external Optimism wallet address.
Frequently Asked Questions
What is Worldcoin’s main purpose?
Worldcoin aims to create a global identity and financial network based on proof of unique personhood. Its technology is designed to help distinguish humans from AI bots online, enabling more secure and equitable digital experiences.
Is Worldcoin available worldwide?
While Worldcoin is expanding rapidly, it is not yet available in all countries. The Orb verification devices are currently deployed in dozens of major cities globally, with more locations planned over time.
How does Worldcoin protect privacy?
Worldcoin uses zero-knowledge proofs and local biometric processing. Iris images are deleted after being converted into irreversible iris codes, meaning no raw biometric data is stored centrally.
Can I have more than one World ID?
No, the system is designed to ensure that each person can only have one World ID. The Orb’s iris-scanning technology prevents duplicate registrations.
What networks support WLD tokens?
WLD is an ERC-20 token available on both the Ethereum and Optimism mainnets. This allows users to transact with low fees and high speed on Optimism while maintaining compatibility with the broader Ethereum ecosystem.
Do I need to verify with the Orb to use WLD?
Orb verification is required only to receive a World ID and claim free WLD tokens. You can buy, trade, and hold WLD in compatible wallets without a World ID.