What is Worldcoin (WLD)?

Worldcoin (WLD) is now available for trading on PDAX! Read on to learn more about the context of WLD, what you can use it for, and what you can expect from it in the future.

What is WLD?

Worldcoin (WLD), the native token of World Network, is the platform’s operative cryptocurrency and governance mechanism. According to the World network whitepaper, WLD is an ERC-20 token on the Ethereum Mainnet, and individuals receive their user grants on World Chain Mainnet, an OP Stack layer-2 network on top of Ethereum. Most WLD transactions take place on the World Chain network, but the token can be bridged to other blockchains via bridge partners.

World Network, in turn, is declared as such by their whitepaper:

World Network was founded with the mission of creating a globally-inclusive identity and financial network, owned by the majority of humanity. If successful, World Network could considerably increase economic opportunity, scale a reliable solution for distinguishing humans from AI online while preserving privacy, enable global democratic processes, and show a potential path to AI-funded UBI.

World Network consists of a privacy-preserving digital identity network (World ID) built on proof of human and, where laws allow, a digital currency (WLD). Every human has access to WLD tokens simply for being human. World ID and WLD token are currently complemented by World App, the first frontend to World ID and World Network, developed by the contributor team at Tools for Humanity (TFH).

As with most native governance tokens, WLD is the digital currency that powers its eponymous network. In this specific case, WLD works hand-in-hand with World ID, which in turn is explained as follows:

World revolves around World ID, a privacy-preserving global identity network. Using World ID, individuals will be able to prove that they are a real, unique human to any platform that integrates with the protocol. This will enable fair airdrops, provide protection against bots/sybil attacks on social media, and enable the fairer distribution of limited resources. Furthermore, World ID can also enable global democratic processes and novel forms of governance (e.g., via quadratic voting), and it may eventually support a path to AI-funded UBI.

Is a World ID necessary to acquire and trade WLD?

Availability of a World ID is an ongoing endeavor across multiple countries, with varying degrees of acceptance depending on prevailing data privacy laws and national policies regarding Web3 and cryptocurrencies. That said, WLD can be traded normally just like other crypto tokens, even without first signing up for and verifying a World ID.

World’s whitepaper has this declaration regarding the possible personal acquisition of of WLD outside of trading:

Subject to Availability, anyone in the world can download the World App and reserve user grants. To claim WLD tokens, anyone can visit an Orb in person to verify their uniqueness and humanness. See here for the current availability of Orbs around the world.

In the Philippines, deployment of World Network’s app and the platform’s proprietary iris-scanning Orb technology is imminent; stay tuned to PDAX for the latest updates!

Don’t miss out on the future opportunities of WLD! Start trading on PDAX today!

DISCLAIMER: PDAX reaffirms that the statements in this article do not constitute financial advice. PDAX does not guarantee the technical and financial integrity of the digital assets and their ecosystems. Trading with any cryptocurrency is subject to the user’s risk and own discretion and must be done after adequate and in-depth research and analysis.

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