Worldcoin Launches a lobal Cryptocurrency at will be Given to Every erson on Earth
Dean Takahashi @deantak
determine whether the user is real and whether they have claimed their free share yet. This is done by converting the image of the eye into a numeric code, which means that the original image does not need to be stored or uploaded. The numeric code is also not linked to the user’s wallet or transactions, further preserving user privacy. In contrast to the practice of many centralized services used by most people today, no other personal information is required. Additionally, users who want to participate in the Worldcoin network without ever visiting an Orb will be able to do so, albeit without receiving their free share of the currency.
up to Worldcoin. Given the sign-up rates seen so far and expected orb deployment rates, Worldcoin would be on pace to onboard more users than all cryptocurrencies combined within a year of its launch. Should this trajectory be maintained, over a billion people would be onboarded within two years. There are already 25 independent entrepreneurs, or Orb Operators, actively testing more than 30 Orbs in 12 countries across four continents (Africa, South America, Europe and Asia). In the coming months, the scale of these tests is expected to increase as hundreds more devices and Orb Operators come on-line. After an initial production ramp-up phase, over 4,000 Orbs will be distributed per month, or 50,000 per year. So far, the average Operator has signed up around 700 people per Orb per week.
An inclusive plan Orb operators will scan people in without needing any other personal identification. To ensure that Worldcoin is both inclusive and useful to all users, the team is also developing a wallet app that anyone can understand and use. The wallet app will allow users to participate in global peer-to-peer payments throughout the existing Ethereum ecosystem, learn about the project and other cryptocurrencies, and find Orb Operators to claim their Worldcoin. The wallet will be non-custodial, which allows users to retain direct control of their Worldcoin. Worldcoin will launch its protocol on top of Ethereum, the cryptocurrency protocol, as a Layer 2. This will both significantly improve its transaction throughput and energy efficiency as compared to Ethereum, a network which will soon transition from proof-of-work to proof-of-stake. (That means it will use less energy for blockchain transactions). The Worldcoin protocol will be completely permissionless and operated by independent validators.
Big investors Institutional investors include Andreesen Horowitz (Series A Lead), 1confirmation, A wide ide reach More than 100,000 people from different Blockchange, Coinbase Ventures, CoinFund, see page 82 countries around the world have already signed 81
November-December 2021
DAWN
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