Worldcoin’s mobile application, known as the ‘World App,’ has reached a remarkable milestone. The development team, Tools for Humanity, reported that it has surpassed 4 million downloads in a blog post dated November 1. If this figure is verified by CoinGecko, it could potentially elevate the World App to the sixth position in CoinGecko’s software wallet rankings.
Tools for Humanity, the team behind Worldcoin’s development, made another noteworthy announcement. They revealed a significant boost in their monthly user count, exceeding 1 million active users. This marks a doubling in user numbers from just six months ago.
A distinctive aspect of Worldcoin is its use of iris-scanning technology. This technology allows users to confirm their identity as genuine humans, preventing bots. Once the verification is successful, users receive 25 WLD tokens, currently valued at approximately $46.50.
The project has gained notable traction in emerging markets, such as Argentina, where some participants have leveraged the registration process and subsequent coin sales as a means of earning additional income swiftly.
Worldcoin’s Milestones and Privacy Concerns Amid Growing Usage
Nevertheless, Worldcoin has encountered criticism regarding potential privacy risks. Detractors argue that its centralized nature could lead to the public exposure of user data.
To redeem their WLD tokens, Worldcoin users must install the World App to set up an account. The team’s November 1 statement revealed that the app’s downloads have now exceeded 4 million, placing it ahead of Solana Phantom but trailing Bitcoin.com’s Bitcoin wallet in CoinGecko’s roster of popular wallets.
Significantly, a portion of the registered user base has exhibited sustained engagement, with the app attracting 1 million monthly, 500,000 weekly, and 100,000 daily active users. This represents a twofold increase in monthly active users over the preceding six months, according to the post.
Despite the project’s accomplishments, it continues to face censure from privacy advocates. On October 2, the Kenyan parliamentary committee directed Worldcoin to cease operations in the country, citing privacy apprehensions. Worldcoin complied with the directive while maintaining that it had adhered to all privacy regulations within the nation.