Tech
Worldcoin Foundation Reveals Wave1 Beneficiaries
- In new news, Worldcoin has revealed the beneficiaries of its Wave 1 Community Grants.
- These grants are designed to empower innovators and accelerate the development of the Worldcoin ecosystem.
Following the success of the first wave 0, which took place late last year with a lead of $5 million in funding across three grant tracks, Wave 1 Scholarships 17 projects have been awarded in many areas, including new governance mechanisms, Secure Multi-party Computation (SMPC), and improved developer experiences. The above projects are expected to improve the Worldcoin ecosystem.
It is worth noting that Wave 0 has awarded grants to projects focused on analyzing research and development efforts, such as the intersection of privacy and biometrics.
Narrowing it down to the Worldcoin Tech Tree, it is easier to say that this is a technology roadmap to achieve Worldcoin’s goals. Wave 1 targets various sections of this roadmap, spreading its wings of innovation across the board.
Beneficiaries of the first wave
- Axiom: This recipient is facing infrastructure challenges. Axiom’s project focuses on creating a universal verification circuit to simplify WorldID proof verification, aiming to reduce the costs associated with Worldcoin’s on-chain infrastructure.
- Teleporter Humanizer: This grant addresses the problem of bot-infested online spaces by providing a layer of identity verification for Farcaster applications, ensuring that users are interacting with real people.
- Fuzzing Labs:This project focuses on improving the security of biometric data through improved OP-TEE security protocols.
- Just dust: Acting as a bridge between developers and active Worldcoin projects, Only Dust facilitates their integration with WorldID. To support a strong developer base, Wave 1 has included projects dedicated to attracting and educating new developers.
Encode Club took a different path with a similar goal of fostering a new generation of developers into the ecosystem. This was achieved through an 8-week training series with live workshops and YouTube content.
5.TACEO: This arrested Wave 0 beneficiary has made great strides in ensuring biometric data protection. TACEO is behind the secure deletion of Worldcoin’s previous iris code system. Notably, TACEO is a Wave 0 beneficiary, but the undifferentiated nature of Wave 1 will continue to support this innovative project.
AS previously reported On the Crypto News Flash show, Noah Kim stated that after using the Orb gadget to scan the iris and discover the identity, they created an encrypted code and immediately deleted the rest of the data.
With the continued support of Wave 1, TACEO will focus on developing new iterations of Secure Multiparty Computation (SMPC) technology, debunking myths about Worldcoin’s data processing procedure and providing even more effective privacy measures for Worldcoin users.
Other beneficiaries of wave 1, including Hole in the wallzkSnap, Herodotus, Worldpoll, Coometh, Agora and BBB & company, are useful with a number of solutions.
It’s also worth noting that Collin Brown tweeted about World ID’s Wormhole integration from Worldcoin into Solana, improving blockchain identity verification.
In short, the revelation of the beneficiaries of wave 1 marks a crucial point not only for the Worldcoin tech tree but also for increasing the price of WLD. At the time of writing, Worldcoin is changing hands at $1.86, representing a decline of 20.88% in the last 24 hours.
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