As a seasoned crypto investor with a keen eye for promising projects and a knack for spotting potential, I find the development of World Chain by Sam Altman’s Worldcoin project intriguing. The focus on verified human users and the roster of top apps and projects associated with it is definitely a step in the right direction towards widespread crypto adoption.
The “Worldcoin” project, established by Sam Altman, formerly known as the “proof-of-humanity” initiative, recently unveiled a blockchain system on the Ethereum layer 2 platform, which they have named the World Chain.
On October 17th, according to World’s declaration, the 15 million users who have authenticated their identities using an iris scan for a “World ID” are now able to utilize the network.
The firm launched World Chain to help improve efficiency and introduce new functionality for users of its Worldcoin (WLD) token as the company looks to expand its onboarding efforts.
The world announced that its latest blockchain system will prioritize authentic human users, identified through World IDs, over automated bots. This means these verified humans will have direct access to the blockchain space and receive a complimentary gas allocation.
Furthermore, World announced plans for its blockchain to host an array of leading applications and initiatives such as Optimism for seamless interaction between platforms, Uniswap for exchanging assets, Zerion for live application programming interfaces (APIs), and Alchemy for development purposes, with many more to follow.
In April of this year, World introduced their innovative network, World Chain, emphasizing its focus on promoting cryptocurrency in a people-oriented manner. Simultaneously, World rebranded and presented an updated version of their “Orb,” a unique biometric device shaped like a chrome sphere, designed to scan individuals’ eyes for verification purposes.
Additionally, the business unveiled fresh methods for verifying identities and established collaborations with popular social media platforms such as FaceTime, WhatsApp, and Zoom.
In simpler terms, the latest version of Orb, utilizing Nvidia technology, is expected to operate more efficiently while boasting five times greater power compared to its previous model, all in a compact design that requires less components, as stated.
In July 2023, Worldcoin officially left its beta phase; it was established by three individuals: Sam Altman (CEO of OpenAI), Alex Blania (current CEO), and Max Novendstern, who is also the head of biometrics research firm Mana.
Worldcoin is a digital identity initiative using cryptocurrency technology, which positions itself as addressing identity challenges arising from advancements in AI. Furthermore, the company proposes to introduce a novel approach to universal basic income by utilizing their WLD token.
Users can establish a distinctive identity with Worldcoin’s “World App” by scanning their irises using the Orb device. After verifying themselves through the Orb, users have the option to receive a distribution of complimentary WLD tokens.
Despite the World unveiling a fresh network, the value of WLD token seemed relatively unperturbed, as it dropped approximately 2.1%, based on data from CoinGecko, on that particular day.
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2024-10-18 09:07