The information about Worldcoin (WLD) is derived from various sources, including posts on X and websites. Worldcoin (WLD) is a cryptocurrency token launched on the Ethereum blockchain as an ERC-20 token. It is a core component of the Worldcoin project, which was initiated by Tools for Humanity (TFH), a company founded in 2019 by Sam Altman, Alex Blania, and Max Novendstern. The project aims to create a global identity and financial network with a mission to enhance decentralized identity verification and financial inclusion on a massive scale, targeting adoption by billions of people worldwide.

The WLD token operates primarily as a utility token with governance properties within the Worldcoin ecosystem. It is designed to empower users by giving them a voice in the protocol’s future development. While the token is deployed on Ethereum Mainnet, most transactions are intended to occur on the Optimism layer-2 network, which provides faster and more cost-effective operations while leveraging Ethereum’s security. In October 2024, the project transitioned to its own native layer-2 blockchain, called World Chain, built using Optimism’s OP Stack, further emphasizing scalability and a human-centric design.

A key feature of Worldcoin is its integration with World ID, a privacy-preserving global identity system that verifies a user’s humanness and uniqueness through iris scans conducted by a device called the Orb. The Orb, equipped with multispectral sensors, generates a unique identifier without storing biometric data by default, as images are deleted on-device unless explicit consent is given for data custody. Users must download the World App, the primary interface for interacting with the Worldcoin protocol, to create a World ID and engage with the ecosystem. Once verified, individuals can claim recurring grants of WLD tokens in regions where they are available, a mechanism inspired by concepts like universal basic income to promote equitable distribution.

The Worldcoin Foundation has outlined an aspirational goal to allocate at least 60% of WLD tokens from the Worldcoin Community pool to individuals as user grants, with a total supply cap of 10 billion tokens. The remaining tokens are distributed among investors, developers, and other stakeholders, with 10% reserved for investors and another 10% for Worldcoin employees. Beyond grants, WLD serves multiple purposes: it can be used for transactions within the World App or other compatible wallets, payments for goods and services, and participation in governance decisions, allowing token holders to influence the protocol’s direction.

The project has garnered significant backing, raising over $250 million from prominent investors such as Andreessen Horowitz (a16z), Khosla Ventures, Bain Capital Crypto, Blockchain Capital, and Tiger Global. Worldcoin distinguishes itself from other cryptocurrencies by combining biometric identity verification with blockchain technology, aiming to address challenges like Sybil attacks (where bots create multiple fake identities) and to foster inclusivity in the global digital economy. However, its use of iris scans has sparked privacy debates, with some countries investigating or suspending its operations due to data protection concerns.

In summary, Worldcoin (WLD) is an Ethereum-based token central to a broader vision of building a decentralized, privacy-focused identity and financial network, leveraging innovative technology like the Orb and World Chain to achieve its ambitious goals.