Worldcoin: How to Get Free Cryptocurrency by Scanning Your Iris

About the Coin Receivable After Authentication (WLD)

• Coin Name: WLD (Worldcoin Token)
• Method of Receipt: Claim by pressing buttons like ‘Grant’, ‘Claim’, etc. in the World App (must be opened and claimed regularly)
• First Gift: Upon Orb authentication, it is sometimes possible to receive a significant number of WLD tokens as a reward (e.g., 10 WLD).

WLD Distribution Periods

There is no clear official announcement about the distribution speed, but according to user reports, the following cases exist:

• Approximately every two weeks: 3 WLD are disbursed ← This was the case initially.
• Approximately once a month: Disbursement occurs ← This is the most common case recently.

In any case, you can only receive the tokens if you press the Claim button in the app, so you must open and check the app regularly. If you do not claim within the claim period, you will have to wait until the next opportunity. The frequency and conditions of distribution may change, so please check the latest information on the official app or official website.

Distribution Structure and Current Status

Worldcoin aims to provide Universal Basic Income (UBI) and regularly distributes WLD tokens to verified users. However, there is no guarantee that the free distribution will continue indefinitely.

Although there is currently no official announcement on the exact timing of the end of free distribution, the following factors are relevant:

• Total Issuance: The total issuance of WLD tokens is set at 10 billion pieces. Distribution occurs within this limit.
• Planned Distribution Amount: The amount planned for distribution at launch is 43 million WLD.
• Project Progress: Distribution conditions or speed may change based on project progress or market conditions.

Possibility of Distribution Ending

Free distribution may end due to the following factors:

• Reaching the Target Distribution Amount: When the planned distribution amount is reached.
• Changes in Market and Regulatory Environment: Impacts from the cryptocurrency market or regulatory body requirements.
• Change in Business Strategy: If the foundation shifts to a new strategy.

What is the Orb? Structure and Purpose

The Orb is a device that accurately scans the iris and is used to prove the user’s humanity. The scanned iris information is encrypted and shared and stored as an ‘Iris Code’. This data is registered in a decentralized system, ensuring a privacy-preserving structure.

This technology aims to reduce online fraud and improve access to financial services, and is expected to be particularly utilized in developing countries. In the future, it could also be applied to online democratic voting, etc.

Why Iris Scanning?

Iris scanning was chosen due to its high ‘entropy’ (amount of information). In fingerprint or facial recognition, the probability of false matches can increase with a large population (like 8 billion people), but the iris contains enough information to enable unique identification on a large scale.

Technical Characteristics of the Orb

The Orb is equipped with the following advanced technologies:

• Several sensors such as a thermal camera and an RGB camera
• Autofocus function via liquid lens technology
• Data storage in a decentralized system

These technologies enable the Orb to capture and process iris information with high accuracy and efficiency.

Criticism and Concerns

On the other hand, there is also criticism of this project. In particular, the following points are questioned:

• Ethical Concerns: The appropriateness of collecting biometric data
• Exploitation in Developing Countries: Promoting unfair use through economic incentives
• Regulatory Issues: In some countries, services have already been banned

Worldcoin states that it aims for a ‘fully decentralized protocol’ to avoid centralized management. Additionally, the Orb itself is designed to be open source to ensure transparency.

Introducing the New Chain ‘World Chain’ and Transfers (Withdrawals)

A new chain called ‘World Chain’ was recently introduced. As a result, the previous transfer methods via the Optimism chain have changed, and new steps are required.

How to Add ‘World Chain’ to MetaMask

To add ‘World Chain’ to your MetaMask wallet, follow these steps:

1. Open MetaMask and select ‘Add Network’ from the network selection menu in the top left.
2. Enter information such as ‘Network Name’, ‘URL’, ‘Chain ID’, ‘Currency Symbol’, etc.
3. Save the settings by pressing the save button.

This way, you can manage ‘Worldcoin’ in MetaMask.

Steps for Transfers and Realizing Profits

To transfer or realize profits from ‘Worldcoin’, follow these steps:

1. Bridge Ethereum to the World Chain

First, you need to transfer a small amount of Ethereum (ETH) to the World Chain. By doing so, ‘Worldcoin’ becomes transferable.

2. Exchange on Uniswap

Next, swap ‘Worldcoin’ on Uniswap or similar services for Ethereum or another currency. Choose the appropriate network during this process.

3. Send to Another Chain

After swapping, you can send the coins to another chain like ‘Ethereum’ or ‘Arbitrum’ and then exchange them for a local currency on an exchange like Bybit or Binance. However, note that some exchanges currently do not support ‘World Chain’.

Notes and Recommendations

• Avoid Network Selection Errors: When making transfers, verify the correct network address. Transfers to incorrect addresses can result in loss of assets.
• Test Transfer with a Small Amount: If you are performing the process for the first time, make a test transfer with a small amount to verify security.
• Check for Latest Information: The support status of exchanges and tools changes constantly, so gather the latest information from official sources or the community.

Summary

Worldcoin is attracting attention as a new form of digital currency and identity management system. However, due to its innovative nature, it also faces challenges regarding privacy and security. It remains to be seen how this project will develop and impact our daily lives and economic activities.

Impacts on the Japanese Market and Future Prospects

Although Worldcoin is currently available in a limited number of countries, it is also attracting attention in the Japanese market. Especially in light of the increasing interest in AI and blockchain technology, how such projects evolve is being closely monitored.

*This document is for informational purposes only. Decisions regarding investments or disclosure of personal data must be made with self-responsibility.