Important warnings came today from the founder of Ethereum, Vitalik Buterin, for the altcoin Worldcoin. Let’s look at the details of the news.
Altcoin Worldcoin warning from Ethereum founder
Vitalik Buterin, the creator of Ethereum, expressed his views on Worldcoin’s biometric authentication mechanism. Buterin states that authentication systems raise concerns about privacy and security. He argued, however, that they are still necessary and that these systems could take years to develop. He pointed out that Worldcoin is distinctive in that it uses highly advanced biometrics to scan each user’s iris using special hardware known as the “Orb”.
Buterin states that Worldcoin’s guiding idea is simple. In other words, he emphasizes that artificial intelligence will benefit humanity in terms of abundance and wealth. But he also stresses that it can lead to the loss of many jobs. He also notes that it can make it nearly impossible to tell the difference between a human and a robot.
personality proof system
He stressed the need to address the gap by creating a highly effective system for personality proof that allows people to show their true humanity and by offering a UBI to everyone. Using special hardware known as an “Orb” to scan each user’s iris, Worldcoin’s reliance on cutting-edge biometric technology sets it apart from other cryptocurrencies.
Buterin said that Worldcoin’s “coin” has been criticized for its poor design, privacy and security concerns with Orb, and some of the company’s business decisions. But others question biometrics in general. They even doubt that Worldcoin’s eye-scan biometrics and the simpler face-video-upload and verification games used in Proof of Humanity and Idena are smart ideas. The Ethereum founder noted that others criticize any evidence of personality in general.
4 dangers associated with Altcoin Worldcoin (WLD)
In his criticism of Buterin, Buterin expressed serious concerns regarding Worldcoin’s authentication solution. Accordingly, he especially focused on issues related to privacy, accessibility, centralization and security.
Among the dangers Buterin identified, privacy risks are at the top of the list. Vitalik Buterin highlighted that Worldcoin’s emphasis on eye-related developments poses significant privacy risks. The system only stores hash versions of users’ eye data. It also uses cryptographic techniques such as ZK-SNARK to protect identities. On the other hand, information may still be vulnerable to misuse or leaks.
The second danger is in accessibility. Buterin expressed concern about the need for physical access for the Orb device. Accordingly, he suggested that this could lead to unequal distribution of Worldcoins, preferring primarily city centers. Worldcoin had proposed phone number verification as an alternative to the Orb biometric device.
Other reviews
The third major danger, according to Buterin, is centralization. While the software layer is decentralized, Orb argued that the integrity of the hardware device cannot be verified, potentially leading to “backdoors”. However, Buterin acknowledged the foundation’s promise to seek greater decentralization over time.
cryptocoin.com Buterin’s last concern was about safety. He listed hacking of phones, forcing eye scans for other people, leasing of IDs and 3D printing of fake IDs as major risks associated with the Proof of Personality system.
Buterin’s solution proposal
To mitigate risks, Buterin suggested combining the three main approaches available. These are: social graphics, general hardware biometrics and specialized hardware biometric techniques. He believes that through this consolidation, a decentralized, scalable and privacy-focused system can be developed that is resistant to the creation of false identities.
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