Ethereum R1 is a new donation-funded, tokenless Layer 2 rollup designed to offer a decentralized, censorship-resistant, and governance-minimized scaling solution for Ethereum

The S&P 500 rose 0.63% Thursday, boosted by strong Meta and Microsoft earnings, but futures slipped Friday as investors awaited the April jobs report and weighed Apple and Amazon tariff concerns. Gold fell to $3,235 as easing trade tensions cut safe-haven demand; markets await US jobs data for rate cut signals. The Coindesk Indices, which tracks the broader crypto market, rose 2.19%, with Bitcoin and Ether up 2.57% and 2.60%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is AR, which gained 16.8% following CloneX's successful migration to Arweave, sponsored by ArDrive.

Arweave (AR), founded in 2017, is a decentralized network for permanent data storage, using blockweave and Proof of Access to ensure long-term accessibility. It offers 200-year storage for a one-time fee, incentivized by AR tokens for miners. The system connects blocks efficiently to preserve and retrieve data, aiming to create a lasting digital knowledge repository. CloneX has successfully 

 to Arweave for permanent storage, with the support of ArDrive, which sponsored the migration of 100 GB of data. The process is nearly complete, with only Animus remaining to undergo decentralization.

Check out the latest prices, charts, and data of 

 is a new donation-funded, tokenless Layer 2 rollup designed to offer a decentralized, censorship-resistant, and governance-minimized scaling solution for Ethereum. Built on open-source code and the Nethermind Surge stack, it emphasizes credible neutrality, public good funding (with all fees burned after 2030), and infrastructure that remains free from VC control or centralized dependencies.

Yesterday, BTC spot ETFs saw $71.1M in total inflows, with $16M from GBTC and $55.1M from other ETFs.

 $BOOP tokens to active Solana memecoin traders and creators who promote memecoins or Solana dapps on X. To claim, users must connect their Solana wallet or X account and launch a free token. The airdrop arrives in 30 days, but growing the token’s market cap can accelerate the reward.

Beginner

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Ethereum R1 offers a decentralized rollup solution for Ethereum

This article dives into Bitcoin liquid staking protocol Lombard Finance, how LBTC works and how you can stake LBTC through Bybit Web3.

Bitcoin stands as the undisputed giant of the cryptocurrency space, commanding the largest market capitalization. Yet, much of its potential remains untapped, often sitting idle as a store of value rather than actively participating in the thriving 

 ecosystem. Lombard Finance aims to change this narrative by unlocking Bitcoin's utility and integrating it seamlessly into DeFi.

Lombard is built upon Babylon, the innovative Bitcoin staking protocol, and is incubated by Polychain Capital. Lombard’s flagship product, 

 (LST) for BTC. This article explores what Lombard Finance is and how LBTC works, and describes the Lombard ecosystem and how you can stake LBTC through Bybit Web3.

 is a liquid staking protocol that focuses on transforming 

's role in the digital economy. Its core mission is to evolve BTC from simply being a store of value — also viewed as 

 — into a productive asset that actively generates yield and participates within DeFi. Currently, a significant portion of Bitcoin's

 sits idle, lacking the native staking capabilities or cross-chain composability seen with assets such as 

Lombard Finance addresses this shortcoming by building on top of 

, a protocol that supports BTC staking without needing 

 or custodians. Babylon allows Bitcoin's economic weight to secure other 

 (PoS) chains and applications, creating a new yield source for holders. Lombard leverages this foundation to offer LBTC, making staked BTC liquid and usable across the DeFi market.

Lombard’s goal is ambitious: to channel Bitcoin's vast liquidity into DeFi. This could potentially double the ecosystem's 

 (TVL) if even a fraction of available BTC is introduced. Lombard believes this integration will catalyze significant growth and create more sustainable market dynamics by making BTC a core, yield-bearing primitive within DeFi.

Founders and investors of Lombard Finance

Lombard Finance was founded in April 2024 by a team with deep expertise within DeFi, drawing talent from established crypto projects like Polychain, Babylon, Argent, Coinbase and Maple. This collective experience underpins the protocol's design and strategic direction.

The project was notably incubated by Polychain Capital, a prominent crypto investment firm that also led Lombard's $16 million seed funding round (which was 

 in July 2024). This round saw participation from a wide array of significant players in the crypto space — including Babylon, dao5, Franklin Templeton, Foresight Ventures, HTX Ventures, Mirana Ventures, Mantle EcoFund, Nomad Capital, OKX Ventures and Robot Ventures — thus highlighting broad industry confidence in Lombard's vision. Strategic partnerships and contributions from exchanges like

 and Bitget are further bolstering its distribution and liquidity aggregation efforts.

LBTC is Lombard Finance's flagship product — a liquid staking token (LST) that represents Bitcoin staked through the Babylon protocol. Designed as a universal liquid BTC standard, LBTC is fully backed 1:1 by native Bitcoin, ensuring its value is directly tied to the underlying asset.

The token is yield-bearing, capturing rewards generated from securing PoS networks via Babylon staking. Crucially, LBTC remains liquid, meaning holders can freely use it across various DeFi applications — such as 

 and automated vaults — without sacrificing their underlying staked positions or associated yield.

LBTC is also designed for cross-chain compatibility, natively minted on supported blockchains like Ethereum, Base and Sui and using secure infrastructure [such as 

]. This avoids the risks associated with traditional bridging or wrapping methods, thus aiming to provide a more secure and seamless way to utilize Bitcoin across the multichain DeFi ecosystem.

Lombard Finance simplifies the process of putting Bitcoin to work within DeFi through its LBTC token. The mechanism is designed with security and user experience in mind, leveraging the Babylon protocol and a robust Security Consortium.

The core benefit of LBTC lies in its ability to unlock multiple layers of value simultaneously. Holders earn native yield from Babylon staking, potentially accrue additional rewards (such as Lombard Lux points) and gain access to diverse DeFi yield opportunities, all while maintaining the liquidity of their Bitcoin position. This transforms BTC from a static asset into a dynamic, yield-generating component of the DeFi ecosystem.

Lombard Finance is actively building a wide LBTC ecosystem that already boasts over 75 DeFi integrations. Security is foundational, anchored by the 14-member Security Consortium (including prominent names like Galaxy and OKX Ventures) and validating all critical operations alongside audits and bug bounties.

Core infrastructure relies both on Babylon for staking, and on the Chainlink CCIP for secure cross-chain movement, with EigenLayer integration 

. LBTC integrates with leading DeFi applications across lending platforms (e.g., 

) and automated vaults. The platform supports multiple blockchains (including Ethereum, Base, Sui, BNB Chain) and 

 (L2s), positioning LBTC as a versatile cross-chain asset.

Here's how you can stake BTC on Lombard and use LBTC in DeFi and automated vaults.

Lombard Finance (via its LBTC token) offers a compelling way for Bitcoin holders to put their assets into use, earn yield via Babylon staking and gain exposure to the expansive DeFi ecosystem — all while maintaining liquidity. Incubated by Polychain Capital and supported by a robust consortium and growing partner network, Lombard is positioning LBTC as a secure and versatile liquid Bitcoin standard.

It’s easy to participate in the Lombard ecosystem through 

, you can utilize your Bybit Web3 Seed Phrase Wallet to stake BTC and mint 

, Lombard's vault token that represents deposits in automated yield strategies. This provides you with a seamless gateway to access Bitcoin liquid staking and DeFi yields.

Ready to unlock your Bitcoin's potential? 

Intermediate

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Lombard Finance: Polychain-backed Bitcoin liquid staking protocol

The cryptocurrency market has entered a phase reminiscent of past altcoin seasons, primarily driven by Bitcoin's recent rebound to the $94K–$96K range. 

Altcoin season might have come with reviveding speculation 

The cryptocurrency market has entered a phase reminiscent of past altcoin seasons, primarily driven by Bitcoin's recent rebound to the $94K–$96K range. This resurgence has sparked renewed interest among retail traders, shifting focus from Bitcoin to smaller, more speculative altcoins. The overall market saw a 10% increase in value during the final eight days of April, contrasting with Bitcoin's 7% gain. This trend indicates a growing appetite for risk among investors, particularly in meme coins, which have seen a surge in social media discussions.

However, caution is warranted as elevated crowd enthusiasm often precedes market corrections. Historical patterns suggest that when buzzwords like "altseason" are dominating discussions, it may signal an impending price exhaustion. The current market dynamics reflect a shift toward speculative investments, raising concerns about the sustainability of this enthusiasm.

Bitcoin's bullish sentiment substantially improves

Bitcoin's position as the leading cryptocurrency has remained steady, with discussions around its price fluctuating significantly. Following a period of pessimism, when predictions dipped as low as $10K–$69K, sentiment shifted dramatically with the price recovery. Now, optimistic projections of $100K–$159K are dominating conversations, indicating a reversal in trader sentiment.

Despite Bitcoin's consistent presence in market discussions (approximately 25% of asset topics), the ratio of bullish-to-bearish commentary has grown increasingly favorable. This suggests a growing confidence among traders bolstered by Bitcoin's recent performance. However, it’s essential to monitor whether this bullish sentiment translates into sustained investment, or if it leads to overconfidence that may trigger a market pullback.

Ethere, once a robust contender in the altcoin arena, has struggled to regain retail investor confidence despite recent bullish commentary and promises of innovation from co-founder Vitalik Buterin. Its social media presence has dwindled to about 6–7% of discussions, a significant drop from previous years. This decline highlights the challenges Ethereum faces in re-establishing itself as a go-to investment in a market increasingly dominated by speculative assets.

Conversely, XRP has seen a notable increase in optimism surrounding ETF approvals, with expectations rising to 85%. This shift reflects a broader trend of institutional interest in cryptocurrencies, potentially paving the way for significant capital inflows. Meanwhile, Dogecoin's potential ETF listings have sparked renewed interest, transforming its image from that of a meme coin to a legitimate investment option. The growing dialogue surrounding institutional adoption of Dogecoin and XRP indicates a pivotal moment for these assets, suggesting they may play critical roles in the evolving cryptocurrency landscape.

Advanced

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Bybit x Santiment social sentiment report: Altcoin sentiment recovers despite Bitcoin’s resilience

Bybit Spread Trading allows traders to simultaneously buy and sell two related instruments in order to hedge risk or profit from price discrepancies. Read more.

Whether markets are flying high or wobbling unpredictably, one thing remains true: traders are always looking for smarter ways to 

 and find profit opportunities. That’s where Bybit Spread Trading comes in. This feature is tailor-made for those who want to go beyond basic buy/sell plays and start taking advantage of price discrepancies between related instruments. In this guide, we’ll walk through exactly how Bybit Spread Trading works, why it matters and how you can start using it today, whether you’re 

is a newly launched Bybit feature that allows users to simultaneously buy and sell two related instruments — such as Spot, Perpetual or Expiry contracts with different settlement dates — in order to hedge risk or profit from price discrepancies.

This type of trading strategy is popular among institutional and professional traders because it enables more precise, controlled market exposure. However, with Bybit’s interface, the barrier to entry is significantly lowered, opening the door for individual traders to tap with just a few clicks into a powerful set of tools.

At its core, Spread Trading on Bybit is about executing what’s called a combo trade. This means entering two positions at once: one long, one short. These positions are taken on related instruments, such as a BTC Spot trade and a BTC Perpetual contract, with the idea that their prices will either converge or diverge in a way that benefits your position.

When you place a buy combo, you’re buying the instrument with the longer expiration (the “far leg”) and selling the one that expires sooner (the “near leg”). 

A sell combo is the reverse: selling the far leg and buying the near leg. The profit (or loss) comes from how the spread between these two instruments shifts over time.

For example, if you believe the spread between a Perpetual and a Quarterly Futures contract will widen, you can buy the combo. If the spread increases after your entry, that movement becomes your profit. Bybit calculates your 

 prices automatically, based on the mark prices and your defined “order price,” so there’s no need to manually crunch the numbers.

Perhaps the most important feature here is atomic execution. This ensures both sides of your combo trade are filled together, in equal quantities, or the trade doesn’t go through at all. It removes “leg risk,” which is the danger of getting filled on one side of the trade, but not the other. In volatile markets, that alone can save you from an unwanted mess.

Spread Trading on Bybit currently supports combinations such as Spot and Perpetual, Spot and Expiry, Perpetual and Expiry, or even two Expiry contracts with different dates. This flexibility lets you build strategies that align with different market outlooks — bullish, bearish or neutral.

There’s a strong reason why Spread Trading is a go-to for many experienced traders: it allows for strategic plays that are more sophisticated than just guessing price direction. On Bybit, it’s not only powerful, but also convenient.

First, you get price certainty. Your spread is locked in at the price you specify. There’s no 

 between legs because the entry prices are automatically calculated and matched. You’re trading the spread, not the individual legs.

Secondly, the trading experience is smoother. Instead of placing two separate orders and manually trying to sync them, Bybit handles everything as a single transaction. You don’t have to worry about whether one leg gets filled and the other doesn’t — that risk is eliminated through atomic execution.

Third, this setup is a great hedge against volatility. By taking opposing positions on two related contracts, you reduce exposure to sharp price movements. Your P&L becomes more about the relative performance between contracts, rather than the market direction itself.

There’s also a strong cost advantage. Trading spreads on Bybit is significantly cheaper than doing it manually. You pay only half the trading fees you’d incur if you placed two individual trades on the order book. For high-volume or 

, that translates to meaningful savings over time.

Finally, it unlocks strategy flexibility. Whether you're 

 funding rates between Spot and Perpetual, doing 

 with different Futures contracts or taking advantage of price convergence before expiry, this platform gives you the tools to execute those ideas efficiently.

How to get started with Bybit Spread Trading 

Now that you have a better understanding of how Bybit Spread Trading works, let’s look into how to get started. Please note that you’ll need to have a Bybit account in order to proceed. If you don’t already have one, please check out our 

 for more information on how to create a Bybit account.

: Log in to your Bybit account and hover your cursor over the 

: The available spreads are organized in a grid, with each tile representing a unique combo. Choose your preferred combo to trade.

Tiles with a border around them signify that Spread Trading offers a better price. Hover over a tile for more details, or use the bar at the bottom of the grid to explore more options.

On the order placement page, set up your order with the following parameters:

to place your order. A pop-up window will appear for you to confirm your order details. Then, click on 

Congratulations — you’ve successfully placed an order!

You can view your Spread Trading orders from any trading page (Spread Trading, Spot and Futures), as they all share the same order data.

 to view your active orders. You’ll be able to view the combo, underlying asset, order price and more. 

If you would like to adjust your order parameters, you may click on the pencil icon under 

. To cancel your order, simply click on the order’s corresponding 

to view your completed orders. To view each order’s information on each leg, click on the order’s corresponding 

button. For additional insights, click on 

Spread trading isn’t for everyone — but if you’re someone who enjoys strategic trading, hedging or arbitrage, it’s a tool worth adding to your arsenal. It appeals to traders who are less interested in taking a directional bet, and more focused on capitalizing on inefficiencies in the market.

You don’t have to be a pro trader to benefit, either. The simplified execution and intuitive UI mean even intermediate users can explore advanced strategies without being overwhelmed. As long as you understand how spreads work, and how your P&L is affected by their movement, you’re already halfway there.

More importantly, in times of market uncertainty or low volatility — when price action feels sluggish — spread trading gives you an alternative way to profit. It keeps you in the game — even when momentum plays aren’t cutting it.

Bybit Spread Trading is a powerful tool that combines simplicity with sophistication. Whether you're looking to hedge, save on fees or experiment with 

 strategies, it offers a clean and user-friendly way to do so. With lower risk, lower costs and plenty of flexibility, Bybit Spread Trading is a smart move for any trader looking to level up their game — especially when markets get messy.

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Bybit Spread Trading: Smart strategies for market swings

Bybit Learn

Altcoins

The Worldcoin aims create the largest identity and financial public utility, via blockchain, to give universal access to the global economy. 

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Artificial intelligence (AI) has evolved significantly in recent years, reaching a level where differentiating between it and humans based solely upon online interactions is increasingly challenging. Modern AI has already created numerous problems for humans, for example in manipulating elections and the capacity to impersonate real people and others. The ability to determine the humanness and authenticity of content has far-reaching consequences for individuals, businesses and societies. Worldcoin plans to address this problem through a three-pronged approach — World ID, World App and Worldcoin token (WLD). 

 blockchain project’s ambitious vision is to create the largest identity and financial public utility to give universal access to the global economy.

Authenticating humanness among the world’s billions of people requires a unique approach. After all, the individualized humanness of one person must be differentiated from that of others without invading that individual’s privacy. Worldcoin’s developers have successfully approached this problem via the 

, a biometric technology that initially takes a picture of an individual’s eyes. This image is turned into a numeric sequence to confirm both humanness and uniqueness, and is the only personal information that’s revealed. This data is then stored securely in the World ID, which serves as a digital passport. 

As part of this identification and verification process, each person will receive Worldcoin tokens, thus enabling the global population to receive free money simply by scanning their irises. 

The CEO of OpenAI, Sam Altman, co-founded the Worldcoin project. Altman has focused on a three-pronged strategy to bring the project to life: Creating an individual’s global ID, developing the World App, and using Worldcoin tokens for purchases and other activities. Blockchain Capital led the Series C fundraising round, which garnered 

Worldcoin is developing the world's largest identity protocol, which functions like a digital passport and can be used worldwide. This digital passport is accessible via the individual’s phone. Worldcoin uses 

 to verify humanness and individuality, without gathering and storing personal data, thereby preserving privacy. 

The Orb supports this critical aspect of the app as an open imaging device, using biometrics to generate a World ID. In order to obtain a World ID, you need to download the World App and connect to a compatible wallet. Currently, this beta technology is only accessible in a few countries, but accessibility is expected to rapidly expand. Worldcoin Operators from around the globe help to operate the Orb, and earn Worldcoins by providing this service.

In order to prevent bot accounts, there’s a limit to the total number of accounts a user may create, but an individual can still open multiple accounts, since the protocol recognizes that humans may use pseudonyms. 

Once launched, Worldcoin will have numerous real-life applications, such as bot account prevention on social networks like Instagram and Twitter. It can also be used to vote in government elections and for DAO governance.

In the financial services arena, Worldcoin may play roles in collateralization processes, compliance and fraud detection. Customer incentives, such as coupons, loyalty rewards and free trials, can be distributed via Worldcoin. Worldcoin also facilitates fair money distribution for scholarships, government welfare programs, refugee aid and more. In addition, Worldcoin can directly address the serious problem of fake transactions and news. 

Worldcoin supports the accurate and expedited differentiation between AI and human content through three key features, each of which plays a critical role in the verification of humanness and in preserving individual privacy: World ID, proof of personhood and the World App. 

 is a permissionless, decentralized identity protocol that takes a privacy-first approach. It can be used during an individual's sign-in step for different crypto DApps, mobile apps and websites, allowing the user to confirm that they’re a human without the need to provide a name, email address or other personal data. 

The World ID may use biometrics or other methods to confirm humanness and individuality, for instance through the Orb, which is a privacy-preserving, open-imaging technology that can function in a trustless environment. 

To take advantage of the benefits of World ID, you first must create a compatible wallet account (unless you have an existing one). Then, connect your wallet to the World App. You’ll be prompted to verify your humanness and uniqueness. Several accounts can be created for those using pseudonyms. Once created, an individual can use their World ID as a type of digital passport. 

A critical aspect of Worldcoin is to identify a user’s individuality and humanness. This is explicitly accomplished by issuing an AI-safe 

 (PoP) credential on World ID. Proof of personhood, or PoP, enables an individual to prove their human identity online without relying on a third-party verification process, which can be time-consuming. 

PoP places a limit on the number of accounts an individual can create, providing an effective safeguard against 

. It also directly reduces the problematic spread of misinformation produced by AI. Online content and accounts are filtered to distinguish between AI- and human-generated content. 

PoP may also act as a spam filter, preventing identity theft and supporting digital collective governance. An individual World ID for each human user is generated to enable the functionality and benefits of PoP.

The Worldcoin ecosystem’s functionality is supported by the technology’s first wallet, 

, World App is an Ethereum-based wallet that uses smart contracts for security purposes, along with well-designed, advanced protocols to support a private digital identity for each user. Once a user creates a unique World ID, the PoP credential is established. 

 then allows the World App to link to any application to prove human identity. World App is also operational as a beta version on Polygon, with plans to launch on Optimism's OP Mainnet, a Layer 2 rollup network with Ethereum's security benefits.

World App also supports the increased adoption of cryptocurrencies, accomplished through an easy-to-use method via 

 that lets users easily buy and trade crypto without an intermediary. 

 (P2P) payments are made simple through the use of 

 (ENS), which creates human-readable names for user-friendly 

 transfers. The financial functionality of the app includes the ability to withdraw cryptocurrencies as 

 on debit cards and credit cards, as well as from bank accounts. 

The Worldcoin token (WLD) is an ERC-20 utility token with governance features that benefits from Ethereum’s security. It allows users to contribute to the platform’s direction and continued development. In addition to providing governance functionality to token holders, WLD facilitates the transfer and purchase of digital assets and fiat in a secure manner. It also supports compatibility with established services and tools for optimized functionality. 

Notably, the token is freely distributed to users around the world. The only requirement for receiving WLD 

 is to complete steps to confirm your uniqueness and humanness. Going forward, Sam Altman intends to provide regular income to users worldwide with WLD to cover basic needs, which he terms universal basic income. Worldcoin Operators can also earn WLD tokens via the Orb and through educating people about Worldcoin.

The Worldcoin project underwent a successful pre-launch phase from May 2021 to July 2023, allowing users in select countries who haven’t pre-registered to sign up for an account and receive WLD after verifying their humanness. The initial goal was to pre-register a couple of billion users before the mainnet launch. During this period, over two million individuals across 30 countries verified their World IDs at an Orb, leading to the allocation of more than 36 million WLD tokens. 

Upon launch, Worldcoin initiated the deployment of 1,500 Orbs globally to cater to the global demand for World ID. 

, which are distributed according to the following allocation:

At launch, there will be a maximum initial circulating supply of 136 million WLD, with 36 million allocated to Orb-verified individuals during the beta phase of the project, as well as 100 million loaned to market makers operating outside of the U.S.

The Worldcoin Foundation intends to work toward the following token allocation goal as the project develops:

Intending to purchase WLD tokens and trade them? Bybit is excited to announce the listing of Worldcoin (WLD) on our trading platforms.

To celebrate the above Worldcoin listings, Bybit is holding 

 in which you can earn a share of the 165,000 USDT prize pool.

Event 1: Deposit and Buy to Earn from a 60,000 UDST Prize Pool

Event Period: Jul 24, 2023, 7AM UTC through Aug 14, 2023, 11:59PM UTC

This event comprises a total of three subevents:

: Be one of the first 4,000 new users to complete the following three steps during the event period to win 10 USDT:

 (who created an account before Jul 24, 2023, 7AM UTC): Be one of the first 4,000 existing users to purchase at least 100 USDT/USDC worth of WLD during the event period to earn 5 USDT.

Looking to earn additional rewards? Simply deposit 25 WLD to your Bybit account to claim another 5 USDT in rewards! Please note that this reward will be distributed on a first come, first served basis to the first 4,000 users.

Event 2: Trade WLD to Earn from a 50,000 USDT Prize Pool

To participate in this event, you just need to accumulate a Spot trading volume of at least 200 USDT worth of WLD during the event period. Your final reward will be determined based on the proportion of your trading volume compared to the total trading volume throughout the event. 

If you would like to obtain a bigger cut of the prize pool, simply trade more!

Event Period: Jul 24, 2023, 7AM UTC through Aug 7, 2023, 11:59PM UTC

As mentioned above, simply stake through the Bybit Flexible Savings plan and earn up to 99% APR — and a total of 20,000 USDT worth of WLD awaits you! 

Event 4: Trade With Grid Bots and Share 5,000 USDT in Rewards

There are two subevents included in this event.

First, create at least one WLD/USDT or WLD/USDC Spot Grid Bot, and invest at least 200 USDT or 200 USDC. The first 4,000 users will share equally from the 1,500 USDT prize pool.

Event participants will be ranked according to their net profits from their WLD/USDT and WLD/USDC Spot Grid Bots. Rewards will then be distributed to the top 20 users.

Please note that participants must accumulate at least $50,000 in WLD/USDT and WLD/USDC Spot Grid Bot trading volume to be eligible for rewards.

Event 5: Refer Friends and Share 10,000 USDT in Rewards

Earn up to 1,025 USDT and 30% commission per referral when you refer a friend to Bybit! You can even receive an additional 5 USDT for every referee who completes the following three steps:

Please note that rewards will be distributed on a first come, first served basis.

As a utility token, WLD serves two primary purposes: confirming a user’s identity as a unique human, and supporting the purchase of digital assets. The coin currently has negligible value. However, another token with almost the same name has been experiencing a positive impact on its price with the news of Worldcoin. 

 (note the distinction of two capital letters) is a relatively obscure project, but since it bears the same name as Sam Altman's Worldcoin, investors have been flocking to it, thinking it to be the same token. (Note that the token ticker for this other WorldCoin is WDC, while the OpenAI-backed Worldcoin's ticker is WLD).

Besides being aware of the two different tokens, there are many other elements to inspect when considering if Worldcoin is a good investment. It’s crucial to understand both its unique potential and the controversies surrounding its functionality. 

Combating Sybil attacks and misinformation generated by AI requires the verification of each user’s uniqueness and humanness. This verification is achieved via the Orb, which scans an individual’s iris. The iris image is then converted into a unique code, known as a World ID, which creates a digital passport that can be used in lieu of personal data. 

However, the image of a user's iris is stored by Worldcoin 

. Some consider biometrics to be invasive, viewing them as a form of personal data. Worldcoin claims that the images aren’t stored, only the hash code. (Note that verification is also essential for the founders’ future goal of distributing universal basic income to individuals worldwide.)

Regardless of how and what data is stored, some people are concerned about the possibility of it being used for nefarious purposes. 

, hackers have successfully gained control over Worldcoin Orb operators’ dashboards. This lends credibility to concerns over safeguarding biometrics data.

In addition to this justified apprehension regarding data collection, it remains to be seen whether the token will really have any intrinsic value. The premise behind Worldcoin is rooted in global wealth redistribution via universal basic income, as anyone can earn the token merely by scanning their irises. But if the token itself is worthless, then owning the tokens is tantamount to owning Monopoly money — so to speak — with no use case in the real world.

While Worldcoin has ambitious goals (as well as many challenges to overcome to achieve those goals), it has great potential to improve personal security and transactions, mitigate the spread of misinformation/disinformation and ensure fair money distribution. Unfortunately, there are numerous myths surrounding Worldcoin that its creators aim to debunk. 

One of these is that Worldcoin stores iris images in a database. However, Worldcoin insists that the iris image is destroyed once Worldcoin assigns a unique World ID to a user. The biometric identification process itself allows Worldcoin to confirm that the individual is a real, living human. The use of the assigned identification number for that image supports verification without the future use of personal data or biometrics.

Another myth is that Worldcoin only serves individuals in developing countries. In fact, Worldcoin does operate in underserved and remote locations to help those with limited access to verify their identities, but it’s also increasingly being adopted in the developed world. 

Some people believe that Worldcoin is a centralized, closed project, but the project’s creators claim otherwise. The team states that while Worldcoin was initially developed by a core group, the 

 was later built to support the independent growth and development of the platform by engaging its community. More than a thousand developers worldwide contributed to Worldcoin's development in 2022. In addition, GitHub repositories have been used to distribute different types of hardware files. These facts highlight that Worldcoin is on its way to becoming fully decentralized.

Please note that none of the information above should be taken as financial advice. Due to the inherently volatile nature of 

 before investing in projects such as Worldcoin.

Worldcoin has the potential to transform social and financial services globally through its unique identification verification process. However, it faces misconceptions and myths that deter interest in its adoption. Additionally, the value of the token itself and its real-world use cases remain uncertain. Such concerns need to be firmly addressed if Worldcoin truly aims for worldwide adoption. 

Worldcoin (WLD): Bringing Digital Assets to the Masses

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