Vitalik Buterin outlines ‘four major risks’ with Worldcoin following token launch

Vitalik Buterin highlighted four major risks in the biometric-based proof-of-personhood system used by Worldcoin.Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.

Worldcoin users install an app and have their irises scanned by a device called the"Orb." The Orb verifies the user's humanity and iris uniqueness, creating an iris hash. This process results in a unique"World ID" for each user, who can then prove their uniqueness without revealing their specific identity, ensuring privacy and security.As the Worldcoin project involves iris scanning, it raises substantial privacy concerns, according to Buterin.

The third risk Buterin put forward was centralization. The integrity of Worldcoin's Orb hardware device construction can’t be verified, leaving the possibility of backdoors, Buterin said. Even if the software layer is decentralized, the Worldcoin Foundation has the potential to insert a backdoor and create fake human identities, he added. Worldcoin’s governance and proprietary algorithms are further centralization concerns, according to Buterin.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Worldcoin's Newly-Launched WLD Token Spikes Over 20% on Major Crypto Exchanges.Binance, HuobiGlobal and Bybit_Official have listed worldcoin's WLD token, which is already up over 10% on crypto exchanges. egreechee reports.
Source: CoinDesk - 🏆 291. / 63 Read more »

Worldcoin Migrates to Optimism – Bitcoin NewsWorldcoin, the biometric decentralized identity and wallet protocol, has announced it has completed the migration process to switch its operations from Polygon to Optimism.
Source: BTCTN - 🏆 531. / 51 Read more »

Worldcoin's Mainnet, WLD Token Set to Go Live.worldcoin is set to launch its WLD token and its mainnet on Monday. thesamreynolds reports.
Source: CoinDesk - 🏆 291. / 63 Read more »

Sam Altman’s Worldcoin launches token with over two million sign-upsWorldcoin has announced the launch of its WLD token — which it will distribute to more than two million people around the world.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Worldcoin launches token to distinguish humans from botsWorldcoin co-founder Sam Alman hopes to bring the number of users to 2 billion after recording 2 million sign-ups. The project has continuously split opinions from within the crypto space to Silicon Valley, with some praising the project’s ambition and others calling it creepy and dystopian.
Source: Cointelegraph - 🏆 562. / 51 Read more »