Everything You Wanted To Know About The Latest Buzz Around Worldcoin

The crypto space has been recently experiencing the entry of new coins backed by AI. As if AI tools were not already popular, OpenAI, the company that created ChatGPT, has launched Worldcoin, a cryptocurrency token. 

Worldcoin from OpenAI is a very exciting project that many crypto enthusiasts had been waiting for. After years of development, it was finally launched on July 24th, 2023. Crypto market regulars must have noticed how the Worldcoin price has been going up and down since its entry, and experts have various opinions on what its future holds.

This article will be a good read if you are interested to know more about this brand new cryptocurrency – Worldcoin, and whether it is a good investment choice or not.

What is Worldcoin?

Worldcoin is an exclusive platform that helps people prove they are real humans, not robots or computer programs. The person who created ChatGPT also helped start the company that made Worldcoin, called Tools for Humanity. Interestingly, this person is involved in both creating artificial intelligence and trying to solve the problem of being unable to tell humans and robots apart. Worldcoin uses fancy computer tools, like cryptography and blockchain, which are commonly used for cryptocurrency. The Worldcoin token called WLD, can be used in a way to make payments.

So how exactly does Worldcoin work?

The Worldcoin project is a game-changing initiative that aims to provide each person on the planet with an individual digital identity. How? By using a nifty device called an Orb. These Orbs are scattered all over the globe and when you visit one, it scans your iris and creates a one-of-a-kind World ID. The ID is based on your iris pattern and can be used for global payments and transactions. What is the best part? You will receive up to 25 WLD coins after completing the process, a cryptocurrency currently valued at USD 2.18 on major exchanges.

Is Worldcoin safe?

Some people who are interested in digital money have been worried lately about using eye scans to identify people. A big project called Worldcoin wants to scan the eyes of billions of people using computer programs. Some people are concerned that this could be bad for privacy because it might let others track where people go or find out who they are without asking first. Also, if someone steals or sells the eye scan data that Worldcoin collects, it could be a big problem.

It has been promised by the company that the information of its users will be kept confidential. They have prepared a document that explains how they plan to go about this. They will store the data in a secure network and only use it to validate a person’s identity. They will not release the user’s information to anyone unless the user authorizes it.

Estimated Worldcoin Price

WLD coin enthusiasts, have you been watching your favorite cryptocurrency? It is currently being traded on major crypto exchanges and the price has been quite the rollercoaster ride since its listing. The hype around the project caused Worldcoin to skyrocket to USD 3.30 on its launch day, but it has not been all smooth sailing since then. In fact, the price has taken a plunge and is now trading at a disappointing 34 percent below its peak.

Many exchanges are currently reporting a decrease in trading volume, which unfortunately does not bode well for the future of Worldcoin pricing. This coin must gain greater strength and surpass the USD 3 price level in order to become more optimistic. There is, however, a notable concern among crypto traders regarding the extremely high maximum supply. A recent study shows that the maximum supply for this digital asset is 10 billion coins, which equates to a market cap of USD 22 billion. So it is hard to see a significant upside.

Conclusion

If you are into cryptocurrency, you will not want to miss out Worldcoin, mainly because it has been rapidly gaining popularity among traders and investors owing to its lightning-fast transaction speeds, low fees, and rock-solid blockchain platform. However, given conflicting expert opinions about this brand new coin, it is always good to be safe and make informed decisions.