Worldcoin

Worldcoin (WLD) is an ambitious cryptocurrency and global identity verification project launched in July 2023. Its mission is to create the world’s largest, privacy-preserving identity and financial network as a public utility, designed to empower individuals globally. At its core is *World ID*, a decentralised and privacy-focused identity system that enables users to prove their uniqueness and humanity without disclosing personal information. This is achieved using the *Orb*, a custom-built biometric device that scans users’ irises and generates unique identifiers in compliance with privacy standards.

Worldcoin also features the WLD token, which powers the ecosystem by serving as a medium of exchange and a governance token. In October 2024, the project transitioned from Ethereum’s Optimism network to its native *World Chain*, a Layer-2 blockchain built using Optimism’s OP Stack, prioritising scalability, inclusivity, and human-centric design.

• World ID: Enables users to verify their humanity and uniqueness using zero-knowledge proofs, ensuring privacy while protecting against identity fraud.
• Applications: Prevents bot activity in social media, facilitates fair token distributions, and enables equitable access to digital services.

• Payments: WLD tokens are used for transactions across goods and services, both within and outside the Worldcoin ecosystem.
• Stablecoin Integration: Designed to improve financial access in regions where stablecoins play a vital role in daily transactions.
• World App: The primary wallet interface that supports cryptocurrency payments and access to decentralised applications (dApps).

*3. Network Governance:* The WLD token grants its holders the ability to shape the protocol through governance mechanisms. Users participate in voting and decision-making processes, influencing factors like ecosystem development, fund allocation, and potential inflation rates.

• Priority Blockspace: World Chain allocates free or subsidised transaction space for verified users, ensuring equitable access to the blockchain network.
• Gas Allowances: Verified human addresses receive gas fee subsidies, reducing friction for casual users.

• Mini Apps and Minikit: Developer-friendly tools for building and distributing dApps tailored to verified human users.
• Grants and Support: The World Foundation offers funding for initiatives like bot-resistant platforms, decentralised governance, and Universal Basic Income (UBI) experiments.