The goal of the Worldcoin project is to create a global identity and financial network accessible to everyone. This network is centered around World ID, a system that allows users to verify their identity online while protecting their privacy through zero-knowledge proofs.
To participate in the Worldcoin protocol, individuals need to download the World App, the first wallet app that supports the creation of a World ID. Users can then visit an Orb, a physical imaging device, to get their World ID verified. Orbs are usually operated by local businesses known as Orb Operators, and the verification process involves multispectral sensors to confirm humanness and uniqueness.
Those with Orb-verified World IDs are eligible to receive free WLD tokens on a recurring basis. This distribution method aims to make WLD one of the most widely held digital currencies.
The WLD token serves as a utility token with governance functions, allowing users to have a say in the protocol's future. The introduction of World ID opens up new possibilities for innovative governance mechanisms, such as ""one-person-one-vote."" Additionally, users may find other use cases for the WLD token, such as making payments within the World App or supporting specific initiatives.
WLD is based on the ERC-20 standard on Ethereum, with user grants distributed on the Optimism Mainnet. Therefore, most WLD transactions are expected to occur on the Optimism network.
Overall, the Worldcoin project aims to create an inclusive and innovative digital ecosystem that prioritizes privacy and user empowerment.
