Vitalik Buterin discusses the launch of Worldcoin and the concept of digital identity in a lengthy essay posted on Twitter.
Noted developer and co-founder of the Ethereum network, Vitalik Buterin, has shared his thoughts on the recent launch of Worldcoin, the Blockchain-based identity verification project.
On July 24, through his Twitter account, Buterin posted a lengthy essay in which he addressed both how Worldcoin works and the broader concept under discussion, that is, proof-of-humanity: “What do I think about biometric proof of personhood?”
In his article, Buterin provided a detailed explanation of Worldcoin and how it is designed to operate.
In addition, he delved into the concept of proof-of-humanity, which is also being explored by other similar identity solutions such as Proof of Humanity, BrightID, Idenam, and Circles. All of these projects share the belief that as artificial intelligence advances, it becomes increasingly difficult to distinguish between humans and machines.
Regarding this fact, he indicated that the philosophy behind the project is simple. And that Worldcoin is unique in that it is based on highly sophisticated biometrics, scanning each user’s iris using a specialized piece of hardware called an “Orb.”
OpenAI CEO Sam Altman Launches Worldcoin: The Revolutionary Iris Scanning Cryptocurrency
Sam Altman, the visionary CEO of OpenAI and creator of ChatGPT, has prepared for an exciting launch in the field of biometric technology. Today, the launch of Worldcoin Token (WLD), the cryptocurrency powering the ambitious iris-scanning project, was officially announced.
The Worldcoin project, which has received backing from prominent investors like Andreessen Horowitz, promises to revolutionize biometric authentication and online security solutions. With iris scanning technology at its core, Worldcoin Token aims to provide secure and trusted identification to users in the digital age.
News of the launch was previously hinted at via the project’s official Twitter account, which posted a mysterious graphic with the enigmatic message: “It’s time.” Since then, the tech community has been eagerly awaiting the arrival of this innovative cryptocurrency.
Each Worldcoin user installs an app on their phone, which generates a private and public key, much like an Ethereum wallet. They then go in person to visit an “Orb”, the user stares into the Orb’s camera, and at the same time shows the Orb a QR code generated by their Worldcoin app, containing their public key.
The Orb then scans the user’s eyes and uses a hardware scan to verify that: The user is a real human and that the user’s iris does not match the iris of any other user who has previously used the system. If both scans pass, the Orb signs a message approving a specialized hash of the user’s iris scan.
Worldcoin (WLD) Makes Spectacular Debut on Multiple Crypto Exchanges
Although the launch on Binance was “tentative,” the exchange announced that it would start trading WLD starting at 5 am EST today. Worldcoin beta participants who received their tokens have also been able to deposit them on Binance, as the exchange enabled this feature immediately.
Apart from Binance, the token also made its appearance on ByBit, another popular exchange. Surprisingly, the starting price of WLD on ByBit was noted to be $0.3 per coin. But, in just fifteen minutes, the value skyrocketed to an impressive high of $2.79. At the time of the last update, the token was trading at $2.42 on the exchange.
By Audy Castaneda
