Vitalik Buterin Raises Alarm Over Worldcoin As Binance And Other Crypto Exchanges List Newly Launched Token

Vitalik Buterin Raises Alarm Over Worldcoin As Binance And Other Crypto Exchanges List Newly Launched Token
фото показано с : zycrypto.com

2023-7-25 00:41

Ethereum co-founder Vitalik Buterin has expressed serious concern about Worldcoin, the highly anticipated and controversial project co-founded by OpenAI’s Sam Altman, which launched its WLD token on Monday.

In a blog post, Buterin raised questions about its centralization, privacy, and security.

The Risks And Issues With Worldcoin

The newly launched Wordcoin project is among the crypto sector’s most polarizing. Its goal is to help people prove their identity online with credentials verified in person by iris-scanning orbs. This step provides “proof-of-personhood” that is cryptographically secured and used as a World ID. According to the company, the tailor-made device that uses the scan to create a unique identifier doesn’t actually process or store any related data locally.

In an extensive July 25 blog post, Ethereum creator Vitalik Buterin outlined this system’s potential problems.

What do I think about biometric proof of personhood?https://t.co/yozo1buW24

— vitalik.eth (@VitalikButerin) July 24, 2023

For starters, Buterin identified four key issues with its biometric proof-of-personhood: privacy, accessibility, centralization within the Worldcoin Foundation, and security. Although he thinks some can be solved with technological improvements, “others seem to be fundamental limitations.”

Worldcoin Orbs will be distributed around the world to allow users to create their respective digital IDs. Buterin contended that there is no way to prove that the orb was “constructed correctly and does not have backdoors.” He theorized that “the Worldcoin Foundation still has the ability to insert a backdoor into the system, letting it create arbitrarily many fake human identities.”

His perspective was echoed by Bitcoin proponent Anita Posch, who indicated that the centralized nature of the Worldcoin project and the sheer amount of data it handles could be a potential point of failure.

Buterin also argued that World IDs won’t be readily accessible to all interested participants as acquiring an “Orb” device can be challenging. In addition, he noted that the registry of iris may provide more details than planned. Case in point, if someone else scans your iris, they can verify it against the Worldcoin database to see if you have a World ID. 

Buterin recognized there is no perfect solution for these concerns. He sees the potential for a blend of various approaches to the issue. Community accountability, audits, and checks are paramount to this process, Buterin elaborated. However:

“Not having any proof-of-personhood at all has its risks too: a world with no proof-of-personhood seems more likely to be a world dominated by centralized identity solutions, money, small closed communities, or some combination of all three.”

WLD Token Performance

WLD, issued on Ethereum and the popular layer-2 scaling solution Optimism soared double digits on Monday as Binance, Bybit, OKX, Huobi, and Gate digital asset exchanges were all quick to reveal that they had kicked off trading for the Worldcoin token. 

WLD is currently changing hands at $2.12 and is up by over 50% from its launch price, according to CoinGecko. The Worldcoin project has enrolled more than 2 million people around the world as of publication time.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Waves Community Token (WCT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.05 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.1615 (-100%)

token launched vitalik worldcoin buterin project highly

token launched → Результатов: 126


Фото:

Rice-Based Stablecoin Is Being Launched in Indonesia

PRESS RELEASE. Penjaga Lilin Nusantara, an Indonesian Cooperative in Malang – East Java is setting up Ricetron.com a Tron-based DeFi to tokenized rice-based stablecoin. The website aims to invite crypto enthusiasts to stake Tron and mint RET (Rice Economy Token), a governance token that will fund RIC (Rice Inventory Coin) stablecoin. RET token holders will […]

2021-1-20 09:00


Фото:

Lynchpin rolls out two trading competitions on BigONE exchange

Lynchpin has launched two trading competitions for the holders of its LYN token and the crypto community as a whole. The Lynchpin team unveiled this news, noting that the campaigns will reward participants for trading and holding LYN on BigONE, a digital asset trading and trusteeship platform that helps users pinpoint invaluable blockchain assets from […] The post Lynchpin rolls out two trading competitions on BigONE exchange appeared first on Invezz.

2021-1-19 18:16


Фото:

Celebrity interest in Crypto rises as rapper Lil Pump sets out to launch “PumpCoin”

Popular American rapper Lil pump, best known for his five-times platinum-certified single “Gucci Gang” is the newest rapper set to launch his own cryptocurrency. Dubbed the “pumpcoin”, the non-fungible token (NFT) will be launched sometime in 2021 as disclosed by Fyooz, a virtual asset trading platform that also markets celebrities and entertainers as tradable tokens. […]

2020-12-20 00:16


Yearn Ecosystem Token Index (YETI) Launched For Diversified DeFi Portfolios

A new index token has been launched for the Yearn Finance ecosystem, enabling investors to get broad exposure to all assets on the protocol under one index. The Yearn Ecosystem Token Index, or YETI, has been unveiled by meta-governance protocol PowerPool as a way to diversify a portfolio with a number of tokens within the … Continued The post Yearn Ecosystem Token Index (YETI) Launched For Diversified DeFi Portfolios appeared first on BeInCrypto.

2020-12-10 09:41


Layer-2 Uniswap Port Launched to Quell Rising Gas Costs

A port of the Uniswap exchange has been launched, not to leech liquidity like those before it, but to provide scaling solutions for faster and cheaper transactions and token swaps. Ethereum scaling solutions provider Offchain Labs has announced its own port of Uniswap called Arbiswap which demonstrates Layer 2 (L2) scaling solutions for the world’s […] The post Layer-2 Uniswap Port Launched to Quell Rising Gas Costs appeared first on BeInCrypto.

2020-11-6 10:29