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If this is supposed to be a real currency, isn’t it awful for privacy?

If your wallet is unique to your person (eyeball) and the public key is ever leaked, everyone can see your account balance and transactions.

Would that be the case or am I missing something?

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The wallet and iris hash are never linked. The privacy properties of a Worldcoin wallet are identical to an Ethereum wallet (i.e. pseudonymous until you doxx yourself).

See https://worldcoin.org/how-it-works#crypto

So you can have multiple wallets but only once receive your free share?

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