🌎 Worldcoin Rebrands as World, Launches Ethereum Layer-2 Network

Worldcoin Rebrands as World and Launches Ethereum Layer-2 Network

Worldcoin has officially rebranded to World, coinciding with the launch of its Ethereum layer-2 network, World Chain. Several significant developments were announced during the keynote address by Worldcoin founder Sam Altman on October 17, 2024.

Rebranding and Upgrades

The rebranding to “World” is already visible across the company’s social media platforms and website. Alongside this change, the company has introduced upgrades to its iris-scanning Orb devices. The new Orbs incorporate Nvidia hardware, making them up to five times more powerful while reducing their carbon footprint and requiring fewer parts.

The upgraded Orbs are set to appear in self-service kiosks, starting in select markets. This deployment is expected to accelerate the global rollout of proof of human verifications.

Expanded Identity Verification

World is broadening its identity verification options beyond the Orbs. Users will soon be able to verify their identity through various methods, including a program called World ID Credentials. This program allows verification using NFC-enabled government-issued passports, adding more flexibility to the process.

World App 3.0 and New Features

The company also introduced World App 3.0, which brings new features to the platform. One notable addition is the World ID Deep Face feature, designed to detect and block deepfakes. This tool enhances the authenticity of video content, providing users with heightened security in an era of increasing AI-generated media.

World has also announced integrations with popular apps such as WhatsApp, FaceTime, and Zoom. These integrations make it easier for users to verify their identity and access World’s services within platforms they already use.

World Chain Mainnet Launch

The much-anticipated Ethereum layer-2 network, World Chain, went live following the keynote event. This network is expected to enhance efficiency and introduce new functionalities by integrating World ID, World App, and the Worldcoin cryptocurrency (WLD).

World Chain will prioritize onboarding verified human users over bots, providing them with access to block space and offering an allowance of free gas to incentivize participation.

The new blockchain already hosts some of the top projects in the industry, including Uniswap, Optimism, and Alchemy.

WLD Price Movement

Despite recent strong performance, the price of WLD did not react positively to the latest announcements, slipping 1.4% to $2.20 at the time of writing. However, the token remains up 28.4% over the past week and has gained over 47% in the past month.