Worldcoin Decentralizes Eye Scanner Ecosystem Amid Privacy Concerns
New Decentralization Plans from Worldcoin: What does WLD have to gain?
Worldcoin [WLD], led by the team Tools for Humanity, has had its own update following the controversy around Sam Altman and OpenAI. According to the Worldcoin Foundation, the company plans to decentralize its eye scanner ecosystem and provide a $5 million grant to developers interested in decentralizing the network.
Previous Concerns and Worldcoin’s Response
The launch of Worldcoin in July was not without concerns. Various governments and privacy activists questioned the project’s commitment to protecting its users’ privacy. Although Worldcoin provided some answers, these were not convincing for some parties. This led to some government agencies banning Worldcoin in their jurisdiction.
The Impact of Decentralization on WLD
However, the latest roadmap shows that Worldcoin could be working on solving this problem. The price of WLD has so far not been able to reclaim the all-time high it had reached a few weeks ago. However, the cryptocurrency has recently held above 2 dollars. It was unclear whether development would have an impact on the price. However, the new roadmap could influence Worldcoin’s network growth.
Network Growth and Development Activity
Network growth measures the number of new addresses interacting with a project. Therefore, a decline in this metric means that interest in Worldcoin was low. However, if Worldcoin can convince its users that it will not misuse the data, new addresses could be added to the network.
Development activity is another metric that could be affected. Development activity at Worldcoin has been at its lowest since September. This suggests that the project has not integrated any new features recently. However, with the grant for developers, we could see a positive change in this metric.
Changes in WLD Circulation and Weighted Sentiment
At the time of publication, the one-day WLD circulation was 695,000. This is a significant decline compared to the increase on December 1st. Circulation is a function of token usage. Therefore, a decline in circulation means that fewer WLD tokens were involved in transactions.
According to the weighted sentiment data, the perception of Worldcoin has changed. On December 5th, the weighted sentiment was -0.224. However, current data shows that the metric is now positive at 1.139. This suggests that market participants are bullish on WLD and may be paying attention to key developments in the project.
The Future of WLD
If Worldcoin begins with the full implementation of the roadmap, the price development of WLD could change. It remains to be seen how the new decentralization plans will affect Worldcoin’s growth and perception.
Sources: Victor Olanrewaju, AMBCrypto, Santiment
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