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WLD token pops as Worldcoin launches new SMPC system, deleting old iris codes

15.05.2024, 21:45   12
WLD token pops as Worldcoin launches new SMPC system, deleting old iris codes

In a bold move towards bolstering privacy and security within its ecosystem, Worldcoin has unveiled a groundbreaking Secure Multi-Party Computation (SMPC) system, accompanied by the secure deletion of old iris codes.

This development has sent ripples through the cryptocurrency market, particularly impacting Worldcoin’s native token, WLD, which has experienced a significant surge in value.

Developed in collaboration with cryptography engineers from TACEO, the SMPC system encrypts iris codes into multiple secret shares, distributed among various parties.

This innovative approach ensures enhanced privacy and security for users’ biometric data, aligning with Worldcoin’s commitment to safeguarding user privacy.

The SMPC system builds on recent advances in secure computation, allowing for the secure handling of sensitive biometric information without compromising user privacy.

By leveraging state-of-the-art cryptographic techniques, Worldcoin aims to set a new standard for biometric template protection in the cryptocurrency space.

Additionally, the open-source nature of the SMPC system promotes transparency and collaboration within the community, fostering innovation and continuous improvement.

As part of the transition to the new SMPC system, Worldcoin has securely deleted old iris codes, further enhancing user privacy and data protection.

By removing outdated biometric data, Worldcoin demonstrates its dedication to maintaining the integrity and security of its platform.

This move not only addresses privacy concerns but also reinforces trust and confidence among users and investors alike.

The secure deletion process was meticulously designed to ensure that no residual data could compromise user privacy.

This proactive approach to data management reflects Worldcoin’s commitment to compliance with regulatory standards and its responsiveness to evolving privacy concerns in the cryptocurrency landscape.

Following the the announcement of the introduction of the SMPC system, the Worldcoin (WLD) price has soared by an impressive 6.02% over the past 24 hours.

The WLD token was trading at $4.93 per token at press time.

The post WLD token pops as Worldcoin launches new SMPC system, deleting old iris codes appeared first on Invezz



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