Worldcoin Reaches 4M App Downloads and 1M Active Users

The Popularity of Worldcoin in Developing Markets

The Worldcoin project, which utilizes iris-scanning technology, has achieved a new milestone as their mobile World App has been downloaded over 4 million times, according to a Nov. 1 blog post from the project’s team. If this number is confirmed by CoinGecko, it could place World App in sixth place in CoinGecko’s list of most downloaded crypto bot software wallets.

The Worldcoin development team, called Tools for Humanity, also claimed that they now have over 1 million monthly users, double the number they had six months ago.

Worldcoin allows users to prove their humanness by having their irises scanned. After the user has their iris scanned, they receive a “World ID,” which can be used to verify to applications that they are not a crypto bot. Each user who goes through verification receives 25 WLD tokens, worth approximately $46.50 crypto right now.

The project has become particularly popular in developing markets like Argentina, as some participants have seen registering and then selling the coins as a quick way to make a few extra bucks.

Worldcoin’s Privacy Concerns

Worldcoin has been criticized for its alleged lack of privacy, with critics claiming it is too centralized and could lead to users’ data being leaked publicly.

In order to cash out their WLD, users must download the World App to generate an account. As of Nov. 1, the crypto app has been downloaded over 4 million times, making it more popular than the Solana Phantom wallet but less popular than Bitcoin.com’s Bitcoin wallet according to CoinGecko.

The app appears to be gaining traction, with 1 million monthly active users, 500,000 weekly active users and 100,000 daily active users, double the amount of monthly active users it had six months ago.

Despite its successes, the project is still criticized by some privacy advocates. On Oct. 2, a Kenyan parliamentary committee ordered Worldcoin to cease operations in the country due to privacy concerns. The project complied with the order but also issued a statement saying it had complied with all relevant privacy laws in the country.