Worldcoin, an iris-scanning project, has achieved a significant milestone with over 4 million downloads of its mobile World App, according to a recent blog post by the project’s team. This achievement has the potential to position World App in sixth place on the list of most downloaded software wallets on Coingecko. Additionally, the team revealed that they now have over 1 million monthly users, indicating a doubling of their user base in the past six months.
Worldcoin functions by verifying the humanness of its users through iris scanning. Upon successful verification, users receive a unique “World ID” that can be utilized to prove authenticity to various applications. As an incentive for going through the verification process, users are awarded 25 Worldcoin (WLD) tokens, currently valued at around $46.50. This initiative has garnered popularity in developing markets such as Argentina, where participants have seized the opportunity to register and sell the coins for additional income.
While Worldcoin’s growth is remarkable, it has not been without criticism and concerns surrounding privacy. Detractors argue that the project is excessively centralized, potentially leading to the public exposure of users’ personal data. Privacy advocates have voiced their apprehension, leading to a parliamentary committee in Kenya ordering Worldcoin to cease operations due to privacy concerns. Although the project complied with the order, they issued a statement asserting that they had adhered to all privacy laws in the country.
In order to cash out their WLD tokens, users must download the World App to create an account. The project team confirmed in their November 1 post that the app has been downloaded over 4 million times. This milestone places it above the Solana Phantom wallet, though still below Bitcoin.com’s Bitcoin wallet, on Coingecko’s list of popular wallets. Notably, a significant number of users who register continue to utilize the app even after the initial download. The World App currently boasts 1 million monthly active users, 500,000 weekly active users, and 100,000 daily active users. These figures demonstrate a doubling of monthly active users over the past six months, highlighting the sustained usage and engagement of the app.
The Worldcoin project has marked a significant achievement with over 4 million downloads of its mobile World App. This success places the app in a prominent position among the most downloaded software wallets on Coingecko. With a rapidly growing user base, Worldcoin has successfully tapped into developing markets and incentivized users through the distribution of WLD tokens. Despite facing criticisms regarding privacy concerns, the project’s team maintains their commitment to complying with privacy laws. The continued success and popularity of the World App serve as a testament to the appeal and value that Worldcoin provides to its users in the digital landscape.
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