Ethereum (ETH) co-founder Vitalik Buterin shared a blog post following the launch of the Worldcoin (WLD) project.
Buterin offered his thoughts on some of the risks associated with the Proof-of-Person PoP system introduced by the Worldcoin initiative. According to the leading name in the crypto industry, Worldcoin has different potential problems. In this article, we will briefly convey the ideas of the founder of ETH to you.
Identity Security
The iris scanning system, which will be used for user authentication, poses a security risk, according to Buterin. Although the project developers have stated that they will protect their credentials with crypto technology, this is an inherent risk factor according to the Ethereum founder. If malicious people get this information, it is a big problem that it is likely to be used in many places.
Accessibility
Ethereum co-founder Buterin pointed to access opportunities as another challenge of the Worldcoin project. Users wishing to join the platform have to physically reach a Worldcoin Orb to prove their identity. The well-known name in the crypto industry believes this will be a problem in project progress. It seems unlikely that anyone wishing to use WLD will gain physical access.
Centralization Problem
Vitalik Buterin talked about centralization as the third potential issue for the project. While the Worldcoin project’s Orb device values physical presence, the foundation managing the initiative can create false identities. This is a major handicap for Worldcoin, according to the ETH phenomenon.
“Worldcoin has big claims on decentralization. However, the algorithm and the way the platform works prevent this.”
Vitalik Buterin finally spoke about the possibility of copying. Possible scenarios are that a malicious person forcibly scans the platform client’s eye. However, it does not have to be physical exertion for such a situation. In today’s world, it is possible for hackers to produce an exact copy of customer faces with 3D technology.
However, the Ethereum founder; He commented that it is possible to overcome this problem by combining social graphics-based, general hardware biometric and special hardware biometric techniques.
WLD Price
Worldcoin, the altcoin project of Sam Altman, the founder of artificial intelligence platform ChatGPT, launched WLD coin hours ago. Hours after the news, Binance and Kucoin exchanges listed the WLD token.
The altcoin, which started trading minutes ago, is currently trading at $2.48.
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.