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

By:
on May 15, 2024
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  • Worldcoin introduces SMPC system and deletes old iris codes to boost user privacy andsecurity.
  • The open-source SMPC system sets new standard for biometric data protection.
  • WLD token surges by 6% in response to Worldcoin's innovative measures.

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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.

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

Wordcoin advancing privacy and security with SMPC

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Worldcoin’s introduction of the SMPC system marks a significant leap forward in biometric data protection.

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.

The secure deletion of old iris codes

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By removing outdated biometric data, Worldcoin demonstrates its dedication to maintaining the integrity and security of its platform.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

Worldcoin (WLD) price rises by 6%

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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.

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