Worldcoin, an iris-scanning project that allows users to prove their humanness, has achieved a significant milestone with its mobile World App. According to a blog post from the project’s team, the app has now been downloaded over 4 million times. If this number is confirmed by CoinGecko, World App could rank sixth in CoinGecko’s list of most downloaded software wallets.
The development team, Tools for Humanity, also revealed that World App now has over 1 million monthly users, double the number it had six months ago. This growth highlights the increasing popularity of the project and its appeal to users worldwide.
To use Worldcoin, users must undergo iris scanning, which then grants them a unique “World ID.” This ID serves as a verification tool to prove that they are not bots when interacting with applications. As an incentive to undergo verification, each user receives 25 WLD tokens, which are currently valued at approximately $46.50.
Worldcoin has gained particular traction in developing markets like Argentina, where some participants have registered and subsequently sold the coins as a quick way to earn extra income. However, the project has faced criticism for privacy concerns. Critics argue that Worldcoin’s centralized nature puts users’ data at risk of being publicly leaked.
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In order to convert their WLD tokens into cash, Worldcoin users need to download the World App to establish an account. As stated in the team’s blog post, the app has already surpassed 4 million downloads. This would position it above the Solana Phantom wallet but below Bitcoin.com’s Bitcoin wallet in terms of popularity, according to CoinGecko’s rankings.
The success of Worldcoin can also be seen in the number of users who continue to engage with the app after downloading it. Currently, the app has reached 1 million monthly active users, 500,000 weekly active users, and 100,000 daily active users. These figures represent a doubling of the project’s monthly active users in just six months, showcasing the app’s growing appeal and sustained usage.
Despite its achievements, Worldcoin continues to face scrutiny from privacy advocates. In Kenya, a parliamentary committee ordered Worldcoin to cease operations due to concerns about privacy on October 2. The project complied with the order but also issued a statement affirming its adherence to all privacy laws in the country.
This latest milestone for Worldcoin reflects its growing presence in the cryptocurrency market and its ability to attract a substantial user base. By leveraging iris-scanning technology, the project offers a unique solution for proving humanness and combatting bot interference. However, the project must navigate privacy concerns and address criticisms to ensure continued success and user trust.
In conclusion, Worldcoin’s mobile World App has achieved over 4 million downloads, marking a significant milestone for the project. With over 1 million monthly users and expanding active user numbers, Worldcoin continues to gain traction in the cryptocurrency market. While it faces privacy concerns and criticism, the project’s innovative approach to identity verification positions it as a unique player in the industry. Moving forward, Worldcoin will need to address these concerns and maintain its commitment to user privacy while capitalizing on its increasing popularity.
