Worldcoin, an innovative cryptocurrency and digital identification initiative, has achieved a remarkable milestone with over two million users enrolling in its revolutionary “global identity protocol” called World ID. Surpassing the first million mark in record time, the World ID project is currently in beta testing and gaining significant traction.
World ID aims to provide users with a secure “global digital passport” stored on their smartphones, enabling them to authenticate their identities while preserving their privacy through the use of zero-knowledge proofs. To participate in the World ID program and obtain a “digital passport,” individuals are required to visit an “orb” where they scan one of their irises. This process generates a unique identifier called “IrisHash,” which serves to verify their distinctiveness. As a token of appreciation for uploading their sensitive biometric data, users are rewarded with Worldcoin, the project’s native cryptocurrency.
The surge in sign-ups can be attributed to Worldcoin’s recent multicity tour across Barcelona, Berlin, and Tokyo. During this tour, an impressive average of 40,000 new verified World ID members joined the platform every week.
Worldcoin foresees a growing availability of the five-pound chrome eye-scanning devices, known as “Orbs,” in the coming months due to escalating demand. Additionally, other protocols such as Okta’s Auth0 and Talent Protocol have started incorporating World ID and Worldcoin into their own onboarding procedures, indicating a wider adoption of the technology.
In May, the project unveiled the World App, a gas-free cryptocurrency wallet designed for verified individuals, compatible with both Android and iOS operating systems. Shortly thereafter, on May 25, Worldcoin secured $115 million in Series C funding to facilitate the expansion and implementation of its World ID program.
As Worldcoin continues to gain momentum with its World ID initiative, the project is poised to revolutionize digital identification and offer individuals a secure and convenient means of proving their identity in the digital realm.
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