- Worldcoin’s World App has achieved a remarkable milestone with 4 million downloads, potentially ranking it sixth on CoinGecko’s list of most downloaded software wallets.
- The app also reports over 1 million active monthly users, showcasing a doubled user base within six months, though it faces ongoing discussions regarding user privacy and data centralization.
In an impressive feat of user acquisition and technological adoption, Worldcoin’s ‘World App’, available for both iOS and Android, has surpassed 4 million downloads, as announced in a November 1 blog post by the project’s development team, Tools for Humanity. This achievement, pending confirmation by CoinGecko, could elevate the World App to the prestigious sixth position in the ranking of most downloaded software wallets.
World App now has more than 1 million monthly active users, 4 million downloads and 22 million transactions. Not bad for six months pic.twitter.com/pagXxTfc8E
— Tools For Humanity (@tfh_technology) November 1, 2023
A Soaring User Base and a Privacy Conundrum
Tools for Humanity didn’t just stop at download numbers; they also shared that the platform now boasts over 1 million active monthly users, a commendable doubling from its user base six months prior. Worldcoin introduces a novel approach to user verification, utilizing iris-scanning technology to affirm a user’s humanness. Upon successful verification, users receive a “World ID”, a unique identifier to prove their authenticity on various applications, distinguishing them from potential bots.
This process also rewards users with 25 WLD tokens, equivalent to approximately $46.50 at the time of this writing.
The project has found a particular resonance in developing markets, such as Argentina, where participants engage in the quick buying and selling of the rewarded coins. However, this rapid adoption has not been without its challenges. Worldcoin has faced criticism concerning user privacy, with concerns about the potential centralization of user data and risks of data leaks.
In order to redeem their WLD tokens, users are required to download the World App and create an account. With over 4 million downloads, the app positions itself above Solana’s Phantom wallet yet remains below Bitcoin.com’s Bitcoin wallet in CoinGecko’s ranking. A noteworthy aspect of this growth is the retention of users; the platform reports not just 1 million monthly active users, but also 500,000 weekly and 100,000 daily active users, highlighting a substantial level of ongoing engagement.
However, the road to innovation is often accompanied by scrutiny. Worldcoin has been subject to criticism from privacy advocates, with a notable incident in Kenya where a parliamentary committee mandated the cessation of Worldcoin’s operations due to privacy concerns. While Worldcoin complied with the order, they also issued a statement affirming their adherence to all of the country’s privacy laws, demonstrating the complex interplay between technological innovation, user adoption, and the imperative of safeguarding user privacy.