Worldcoin, the digital id venture backed by OpenAI CEO Sam Altman, has formally rebranded as World Network, typically referred to merely as “World.” Alongside the rebranding, the venture introduced the launch of its new blockchain, World Chain, which is constructed as a Layer 2 community secured by Ethereum. The change signifies a shift within the venture’s mission and a broader imaginative and prescient that goals to speed up world human interplay and id verification in an AI-driven future.
World Chain, the venture’s new blockchain, has now gone stay on the mainnet. A number of key gamers within the blockchain house, together with Optimism, Alchemy, Uniswap, Protected, Dune, and Etherscan, are supporting the launch of the blockchain, making certain easy integration and operation throughout the bigger Ethereum ecosystem.
Shifting Focus to Humanity-Centric Objectives
The choice to rebrand from Worldcoin to World Network displays the venture’s evolving targets. World defined in its announcement that the identify “Worldcoin” now not precisely captured the complete mission of the venture. The brand new branding is meant to emphasize the significance of making a community that facilities on actual, verified human customers. Because the venture’s scale will increase, so does the importance of its World ID service—a digital id verification device that authenticates a consumer’s humanity. This function is taken into account important as AI applied sciences proceed to proliferate.
World Network operates on three core pillars: World Chain, World ID, and Worldcoin, the cryptocurrency that varieties the spine of its ecosystem. Collectively, these components make up what World describes as a human-centric community designed to foster a constructive future, the place human id stays central to technological progress, significantly as synthetic intelligence performs an more and more dominant function on-line.
Launched in July 2023, World ID provides customers a digital id resolution that verifies their personhood each on-line and on-chain. The venture requires individuals to present biometric information, together with iris scans, to show their id. Those that bear this course of obtain World ID, which acts as a digital passport, and are additionally rewarded with the venture’s cryptocurrency, WLD. In accordance to the corporate, greater than 10 million customers throughout 160 nations have already signed up for World ID, indicating the platform’s rising world attain.
Constructing a Human-First Blockchain
Instruments For Humanity, the developer behind World Network, co-founded by Altman, envisions the venture as an answer to distinguish actual human customers from AI entities because the web turns into more and more populated with chatbots and automated assistants. World Chain is described as a blockchain designed solely for human individuals, specializing in making a neighborhood for actual, verified people. The chain is constructed utilizing the OP Stack and is predicted to present customers with decrease fuel charges and a rising vary of helpful purposes.
World Network sees the launch of World Chain as a vital step in its journey, describing it as the biggest software on Optimism’s OP Mainnet. In actual fact, the venture claims that consumer transactions on World Chain account for 44% of the full exercise on OP Mainnet, underscoring its prominence within the Optimism ecosystem.
Trying to the longer term, World Chain’s crew envisions a platform the place customers not solely get pleasure from sensible advantages, corresponding to lowered transaction prices but additionally have the chance to affect the event and path of the chain. The deal with consumer participation is aligned with the venture’s imaginative and prescient of making a extra human-centered web.
Market Efficiency and Outlook
As of now, the venture’s cryptocurrency, WLD, is valued at $2.13, reflecting a slight lower of three.68% over the previous 24 hours. With a market capitalization of $1.1 billion, WLD continues to maintain vital worth throughout the cryptocurrency market, whilst its value fluctuates.
Total, the rebrand and blockchain launch sign a brand new part for World Network, positioning it to play a central function within the intersection of human id verification and blockchain know-how. Because the demand for digital id options grows and AI-driven interactions enhance, World Network goals to provide a future the place people stay on the coronary heart of technological innovation.