### What is Worldcoin?

Worldcoin is a decentralised cryptocurrency designed to provide global access to the financial economy through a secure digital identity system using iris scans. It aims to distribute tokens to every person on Earth, focusing on accessibility and inclusivity.

### How does Worldcoin work?

Worldcoin operates with two main components: World ID and World App. Users verify their unique identity through iris scanning with an Orb device to receive a World ID. This ID is stored on their device, ensuring privacy by deleting the verification images. The World App, a self-custodial wallet, allows users to manage cryptocurrencies and access decentralised finance applications. Worldcoin's blockchain uses a Proof-of-Unique-Human (PoUH) consensus mechanism that leverages biometric data and zero-knowledge proofs for secure identity verification.

### What are the potential use cases for Worldcoin?

Worldcoin can be used for financial transactions, secure voting systems, airdropping cryptocurrencies, and as a digital identity management tool. It has potential in financial services, e-commerce, and healthcare for identity verification and secure data management. Notable partnerships with companies like Optimism and Alchemy aim to enhance its blockchain infrastructure and scalability.

### What is the history of Worldcoin?

Founded in 2019 by Sam Altman, Max Novendstern, and Alex Blania, Worldcoin began as a Layer 2 Ethereum-based cryptocurrency. After securing initial funding, it launched in beta until July 2023, onboarding millions of users worldwide, and expanded its operations globally. In October 2024, it rebranded as World, introducing the World Chain blockchain and new biometric devices, marking a significant growth phase and technological evolution.

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Worldcoin (WLD)

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