The
Worldcoin
Foundation
has

released
a
new
open-source
system
to
safeguard
sensitive
information
more
effectively.

This
system,
now
accessible
in
a
GitHub
repository,
allows
any
organization
to
adopt
these
advanced
data
protection
measures.

The
foundation
highlighted
that
this
initiative
aims
to
establish
a
“new
benchmark”
in
data
security,
particularly
for
biometric
data.

The
transition
to
this
innovative
system
has
led
the

Worldcoin
Foundation
to
delete
the
iris
codes
previously
collected
during
user
registration.

Notably,
participants
in
the
Worldcoin
project
initially
had
their
eyeballs
scanned
by
specialized
Orb
devices
to
verify
their
identity
and
receive
WLD
tokens,
the
project’s
cryptocurrency.
This
process
was
part
of
the
foundation’s
effort
to
create
a
unique
digital
identification
for
each
user.

Secure
Multi-Party
Computation
And
User
Privacy

The
foundation’s
new
system
is
based
on
secure
multi-party
computation
(SMPC),
a
subset
of
cryptography
that
enhances
data
protection
by
distributing
a
single
secret
across
multiple
parties.

 

This
method
increases
the
security
of

stored
information
by
ensuring
that
the
complete
data
set
is
never
held
in
a
single
location,
thereby
reducing
the
risk
of
data
breaches.

The
Worldcoin
Foundation,
in
collaboration
with
technologists
from
TACEO
and
Tools
for
Humanity,
has
developed
a
new
implementation
of
SMPC
that
addresses
previous
limitations
related
to
scale
and
cost.

This
development
is
particularly
pertinent
as
the
requirement
for
individuals
to
provide
biometric
data
to
various
organizations
becomes
more
common.
The
Worldcoin
Foundation
stressed
the
growing
need
to
protect
users’
data
securely
against
potential
threats
and
misuse.

Meanwhile,
prior
to
this
development,
Worldcoin
was
scrutinized
by
regulatory
bodies
across
several
nations,
particularly
due
to
concerns
over
its
data
collection
practices.

 

For
instance,

Hong
Kong’s
Office
of
the
Privacy
Commissioner
for
Personal
Data
took
investigative
actions
against
the
project
earlier
in
the
year,
citing
privacy
concerns.
This
backdrop
makes
the
foundation’s
move
to
delete
iris
codes
and
enhance
privacy
measures
even
more
noteworthy.

Ethereum
co-founder
Vitalik
Buterin
has
previously

praised
Worldcoin’s
efforts
to
improve
privacy.
He
lauded
the
project’s
“data-minimal”
approach
and
its
ability
to
surpass
traditional,
centralized
authentication
solutions
in
safeguarding
user
privacy.

Looking
Ahead:
Worldcoin’s
Strategic
Expansion

Worldcoin
is
also
preparing
for
the

launch
of
World
Chain,
an
open-source
Ethereum
layer-2
blockchain,
set
to
debut
in
mid-2024.
This
platform
aims
to
“revolutionize”
human
authentication
by
integrating
with
the
Worldcoin
protocol
and
providing
a
dedicated
infrastructure
to
transition
from
existing
networks.

The
protocol
has
demonstrated
significant
adoption,
with
over
5
million
people
from
160
countries
registered
and
49
million
transactions
through
verified
wallets.

 

The
upcoming
World
Chain
seeks
to
enhance
scalability,
support
a
growing
user
base,
and
foster
a
stronger
ecosystem
for
the
project.

This
effort
includes
addressing
the
challenges
posed
by
automated
transactions,
which
constitute
approximately
80%
of
all
blockchain
activity
and
often
lead
to
network
congestion.

According
to
the
report,
the
Worldcoin
team
is
also
trying
to
safely
increase
the
L2
block
gas
limit,
supported
by
research
into
performance
scenarios
to
ensure
a
secure
and
inclusive
ecosystem.

Featured
image
from
The
Block,
Chart
from
TradingView

Go to Source
Author: Samuel Edyme

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