The price of the Worldcoin is continuously falling till its launch, and no one can predict the future of this coin. Therefore, if you plan to invest in Worldcoin crypto, you must familiarize yourself with its regular updates. At present, the price of WorldCoin is $0.0064.
Worldcoin is currently running in the pre-launch period. The coin has deployed 25 operators around the globe who will handle the project. The startup has already started gaining the attention of large investors and big tech giants.
So let’s understand in detail what Worldcoin is.
What is Worldcoin?
Worldcoin is an excellent crypto startup that facilitates Worldwide crypto adoption. This latest crypto startup was introduced by Alex Blania.
This allows users to send and receive payments in just a few seconds with a minimal transaction fee. The project aims to mass crypto adoption by making crypto accessible to every person.
The primary goal of this coin is to become a regular part of businesses and merchants for making their routine transactions. However, the token also involves human authentication to ensure the users are real people or bots. The step is done to ensure the high privacy of your data.
The platform looks forward to allowing users to do instant transactions, whether paying for a cup of coffee or transferring money to friends or relatives. In addition, they are looking for a platform that allows users to get extra business from the digital currency economy.
This new global token operates on a consensus algorithm known as Proof-of-Personhood.
Worldcoin crypto wants to overcome the problem of traditional ways of making payments.
It aims to prevent people from standing in a long queue and filling out forms.
Features of Worldcoin Crypto-
- The transactions occur directly between users without the involvement of third parties.
- It is easy to set up, and there are chargebacks.
- Easy to send and receive payments
- It has minimal transaction fees.
- Users can make transactions using their smartphone or a computer using an internet connection.
Worldcoin is a native token for the platform, which aims to be the best digital currency in the future. This coin is launched mainly to power the World of commerce.
But still, the price of Worldcoin fluctuates a lot, and if we talk about its highest value, it was $0.83, which was eight years ago, and the lowest value was $0.000002, which was two years ago.
Sam Altman and Alex Bamnia started Wordcoin and are ambitious to provide this cryptocurrency in every hand of the World. Worldcoin has currently kept itself at a valuation of $1 billion.
The company brought $25 million from top Silicon Valley management and some crypto investors over the past few months. The team Worldcoin has already signed up more than 100,000 people globally for the digital currency.
They aim to enrol more than 1 million in their first two years of the public launch. The company has built this coin as an ERC-20 token on the Ethereum network.
The executives also hope the company will be able to contribute to the economy and connect the whole World’s economy into a crypto platform.
How Does Worldcoin Work?
As of now, there is so much we still need to learn about Worldcoin. Simply, Worldcoin is a layer-2-based blockchain protocol on ethereum. The project deals with its own mechanisms and economy and only relies on verification on the other server network.
Worldcoin aims to mass adoption of digital coins and register 2 billion users before the launch. For this, they are incentivizing the scheme by offering rewards to users and calling more people to join in; the ultimate goal is to increase the mass adoption of cryptocurrencies.
In addition, project owners want everybody around the globe to receive the decentralized currency and enjoy free hands on the economy.
Currently, only 3% of the population uses cryptocurrencies. Worldcoin aims to reach everyone on this earth and become a globally accepted cryptocurrency. In order to do this, users need to complete the biometric recognition to prove users they are real users or not. Since biometrics are unique, it ensures no person can receive cryptocurrency more than once.
The project uses an Orb device that scans the eyeball every time you receive a coin. Orb works on iris detection technology which determines the color patterns of your eyes. Once the scanning is done, it will convert the patterns of your eyes into the code that represents the unique ID of each coin holder.
Worldcoin till now has reached a large group of people across Asia, South America, Africa, and some parts of Europe and scanned their eyes. It might be a life-changing experience for those who have never seen such a change in their life and are also receiving something they never imagined.
Big Investors catching the eye of the Worldcoin
Despite getting criticism from the people, the project has gained the attention of investors and tech giants who have constantly discussed the project’s future. It has collected over $25 million in funds individually from silicon valley tech and crypto investments.
Additionally, many private investors praised the project, like Reid Hoffman, founder of LinkedIn, and Sam Bankman-Fried FTX platform. The future of Worldcoin looks very bright as it continues to develop some modernized solutions for this world.
Its potential to revolutionize the way we do business is undeniable, making it an exciting investment opportunity for those investors who are looking to get involved in the crypto space.
FAQs
Q. How to invest in Worldcoin?
Ans. You can find the World of any popular crypto exchange app, such as coin base. You can go on these exchanges and search for Worldcoin. Now click on the price chart. You will see a complete list of where you can buy Worldcoin for the currencies you can obtain.
Q. What is the purpose of Worldcoin?
Ans. Worldcoin is an open-source protocol aimed at increasing the adoption of cryptocurrencies. It is supported by the global community of developers, tech giants, businessmen, and economists.
Q. What are the benefits of the Worldcoin crypto?
Ans. Worldcoin relies on an iris recognition method that detects people’s iris and later converts it to codes. This unique code works as a verification ID for each coin holder to prove security in a unique way.
Q. Who owns Worldcoin?
Ans. Three people manage the World project. Worldcoin founder, CEO and Altman chief manager
Q. How do I claim my Worldcoin?
Ans. You can claim your Worldcoin by verifying that you are a human. The verification procedure is completed using software called Orb that scans people’s iris.
Q. Is Worldcoin a cryptocurrency?
Ans. Yes, Worldcoin is a new type of global currency that is working on large-scale crypto adoption.
Conclusion:-
Worldcoin set its standard high for 2023 by attracting big investors. Despite getting criticism, the project has done quite well, which is not easy. Nevertheless, it has achieved the adoption that many companies only dream of.
The project is introduced with a unique set up which has helped do well regarding the problem that arises after inception. We hope this guide about the coin is helpful for you; for more such blogs follow us.
