27 days ago - Technology and Innovation

Worldcoin - The iris scanning system.

By Gonzalo Daniel Aguilar

Worldcoin - The iris scanning system.


Worldcoin is lying to us - https://worldcoin.org/

Worldcoin - Digital scam? Uncollectible? Why do they want our iris?

  1. Worldcoin is a cryptocurrency and a blockchain project that aims to create a globally accessible and fair digital currency. It is based on blockchain technology and uses a unique identity approach to ensure fair distribution of the currency.

The idea behind Worldcoin is to create a decentralized digital currency that can be used by people worldwide without geographical restrictions or financial barriers. To achieve this, the project proposes to use a unique identity system (POH = Proof Of Humanity), in which each person will receive a small amount of Worldcoin simply by proving their identity through biometric iris verification. We also have the recurring rewards, which are increasingly difficult to collect (clarified below in point 2), and it is not a proof of humanity verification. They literally scan your eyes' iris and store the data through a protocol called Zero-Knowledge. This protocol ensures that the information is unknown from where it comes, but they do store your biometric data, without your identity data.

The goal of this initiative is to promote financial inclusion and provide people worldwide access to a digital currency that can be used for daily transactions without relying on intermediaries or traditional financial institutions. Although most people, I can't assure it, but I think they entirely exchange Worldcoin for their local currency, making this currency inflationary, where their funds are constantly draining. They recently launched a project where you could propose projects and get funding, and I offered them the implementation of a payment platform where a masked liquidity pool could be created to pay with a Worldcoin pool, preventing capital drainage out of their network and thus preventing its price from constantly falling. But I was strangely rejected.

It is important to note that, like any cryptocurrency project, Worldcoin is in development and not yet fully implemented. The creation of a cryptocurrency and its success depend on several factors, such as adoption, security, and user trust.

2- It is increasingly difficult to collect because they impose restrictions where, at one point, they tell you that you will collect 3 WorldCoin or WLD from now on, but now they have added a counter that uses your cellphone time to delay the deposit or release of assets or WLD, making the process increasingly long and delaying the collection of this currency. The worst part is that they do it based on lies because they say they can't pay you because their blockchain is saturated, but it's not true. They use Optimizm technology for their smart contract transactions to wallets. The Optimism network transacts 1000 times faster than Ethereum because it is a layer 2. And if Ethereum processes 100,000 transactions per second, this means they can pay the entire network in approximately 5 seconds, as there are 5,444,428 unique users. I attach a graph for a better visual explanation.

Here is a view of cellphone delays for 48 additional hours:


I have provided two links to back up my statements as I have worked with these technologies and know their operation in-depth.

  1. * Official Alchemy Certified Ethereum Developer

  2. * Deployed a betting game on Optimism L2

    This is a project in which I have a lot of faith. I think it's the next step for the digital insertion of Web 3 into everyone’s life. If you want to earn some extra dollars and are not in a hurry to collect them, you can start using it. It is not a secure source of income, but it's true that they pay you, though not always on time and sometimes they lie saying the network is saturated, which I know is not true. Moreover, customer service is bots copying and pasting text without solving your problems.

    You can also scan your retina to save all the Worldcoins or exchange them for stable coins like USDT or USDC and store them in dollars on a platform like NEXO, which is currently the best platform to save money with an annual return of 16% in dollars and flexible terms. Here is the NEXO referral link, if you use it, we both win.

    It could be an interesting idea to participate in Worldcoin and save that extra money so that, over one year (which is the time in which the total funds of the application are unlocked, since when you enter, they tell you that you have a lot of money to collect, but the reality is different), you have a good amount of money.

    In conclusion, Worldcoin is a platform to use if you want to have savings or a bit of extra money without commitment. Remember that they store your retina's biometric data, which is information that cannot be changed and represents a unique and real identity document that cannot be modified.



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gonzalo daniel aguilar

Gonzalo Daniel Aguilar

Software Developer Web 3 Specialist - Smart Contract Engineer - Agile Coach - Master Ethereum, Vectorial Cryptography, Alchemy & Polygon - Algorand, Chainlink, Solana & DeFi. Microsoft Cybersecurity & IA developer.

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