Worldcoin (WDC)

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Description

Worldcoin's backers have been marketing their digital currency by highlighting two features that set it apart: its international appeal and the speed at which its transactions are confirmed. Mining of Worldcoins uses the quicker and more resource-efficient Scrypt mining algorithm, which enables transaction confirmation times of 60 seconds or less (as opposed to roughly four minutes for currencies such as Bitcoin, which use the slower SHA-256 mining protocol). Worldcoin's advocates claim this makes theirs the currency of choice for both consumers and merchants alike. The current reward for miners is 64 coins, but that is projected to be reduced by 1% each week. It should be noted many industry insiders are arguing that Worldcoin's truncated confirmation times can also lead to lower transaction security. This, and other discussions on alternative currency forums, has led some to claim Worldcoin is a scam. This can be taken with a grain of salt; such claims have been lobbied against practically every cryptocurrency out there. Worldcoin also offers software wallets for investors on their website, for the Windows, MacOS and Linux operating systems.

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History

Worldcoin was created by head developer Nathan Gudmunson, and was released to the public in May 2013. Its headquarters are located in Lincoln, Nebraska, along with its sister company, Scharmbeck Worldcoin Financial Services, LLC.