Introduction

In the realm of market fluctuations, Worldcoin's value has been on a rollercoaster ride lately, soaring to an all-time high of $11.82 before dipping to a weekly low of $7.24 as it strives for stability.

Despite the unpredictable nature of the cryptocurrency market, the Worldcoin team has implemented several new changes to enhance the platform's functionality.

WorldCoin Price Movement

Currently priced at $8.25, Worldcoin has experienced a modest 3.22% increase in value over the past day, though this figure falls short of ideal expectations. On March 10th, the native token of Worldcoin, WLD, reached its peak at $11.82, marking an all-time high.

Analysis of Worldcoin Price

Despite intermittent setbacks, Worldcoin has showcased remarkable performance, ranking 81st on CoinmarketCap with a market capitalization of $1,283,646,023 following a 3% surge. Additionally, trading volume has surged by 35%, reaching $386,403,934.

Ongoing disputes with Kenya have contributed to a recent decline in Worldcoin's price. Kenya remains steadfast in its decision to uphold the ban on the project, which was imposed in August 2023 due to privacy concerns.

Introduction of Personal Custody by Worldcoin

Worldcoin distinguishes itself with a unique approach, restricting membership to humans exclusively. Notably, Worldcoin's creator, Sam Altman, CEO of OpenAI renowned for ChatGPT and Sora, envisions the project around World ID, a global identity network prioritizing privacy.

Previously, users were required to verify their humanity by providing biometric information to join the network. However, Worldcoin has now introduced Personal Custody options, enabling users to store their biometric data on their own mobile devices. This is facilitated by Orb's iris code generation during the World ID creation process, ensuring privacy and security.

Orb oversees data curation, encryption, and authentication processes, transmitting packets to users' phones. Public key creation occurs on mobile devices, with Orb utilizing keys for verification.

Upon ID creation, users can opt to delete or safeguard their metric data on their devices, ensuring only encrypted data remains, accessible solely on the user's device, with a public key used for encryption.

The platform piloted this feature in December, coinciding with the announcement of World ID 2.0, likened to "a human passport for the internet."

Conclusion

With the introduction of the Personal Custody program by Worldcoin, hopes are high for potential reconciliation with the Kenyan government. Amidst tensions between Kenya and the platform, Worldcoin's price appears poised for recovery following a 5% decline on Friday. The Personal Custody program offers users greater control over their data while upholding the integrity of World ID's purpose.