Originally published on: October 18, 2024
World, formerly known as Worldcoin, spearheaded by Sam Altman, has unveiled its latest innovation in the form of the Ethereum layer-2 blockchain called World Chain. This new development aims to enhance efficiency and introduce novel functionalities for the 15 million users who have verified their identity through the cutting-edge “World ID” iris-scanning technology.
The primary goal of World Chain is to prioritize verified human users with World IDs over bots by granting them access to block space and providing them with free gas allowances. This initiative is part of World’s strategy to streamline its onboarding processes and boost adoption of its Worldcoin (WLD) token.
In addition to its groundbreaking features, World Chain also offers seamless integration with renowned apps and projects such as Optimism, Uniswap, Zerion, and Alchemy, ensuring interoperability, asset swaps, real-time APIs, and development capabilities.
Earlier this year, World introduced the concept of World Chain as part of its “human-centric” approach to revolutionize crypto adoption. Alongside the launch of World Chain, the company rebranded, introduced an enhanced version of its biometric device, Orb, powered by Nvidia hardware, and expanded its identity verification options to include popular social media apps like FaceTime, WhatsApp, and Zoom.
World’s vision extends beyond digital identities and aims to address identity challenges arising from rapid advancements in AI while promoting a new universal basic income model through its WLD token. Users can register their unique identity using the World App and claim free WLD tokens after identity verification through the Orb device.
Despite the introduction of World Chain, the WLD token price experienced a minor dip of 2.1%, showcasing resilience in the crypto market. As World continues to lead the way in digital identity solutions, its innovative technologies are expected to drive significant transformations in the blockchain and crypto space.
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