Worldcoin Rebrands as ‘World’: A Leap Towards Global Decentralization

In a significant shift, Worldcoin, co-founded by visionary leaders Sam Altman and Alex Blania, has rebranded itself as "World." This transformation comes with bold aspirations to amass a user base of 1 billion individuals. 

During a keynote address on October 17, the co-founders unveiled the launch of World Chain, a Layer 2 blockchain built on Ethereum, along with advanced biometric Orb devices designed for identity verification. These initiatives represent a strategic maneuver to foster global adoption and enhance decentralization, which may have a considerable impact on the value of the WLD token.

Aiming for Scalability and Decentralized Identity Verification

With the introduction of its Layer 2 blockchain, World aims to support millions of users while facilitating decentralized identity verification. On its launch day, the platform boasted an impressive 15 million users globally, establishing itself as one of the largest human verification blockchains.

Currently, 7 million users have undergone verification through the innovative Orb technology, with ambitious plans to expand this number to one billion.

In addition to the blockchain launch, World has made substantial enhancements to its biometric Orb devices. The latest iteration utilizes iris scanning technology for identity verification, tripling production capacity and enabling expansion into major cities such as Buenos Aires and Mexico City. 

To improve accessibility, these devices will be strategically placed in public venues, including cafes. On-demand delivery of the Orb devices is projected for spring 2025, further facilitating user engagement.

Core Focus on Growth and Decentralization

Alex Blania, CEO of Tools for Humanity, stressed that scalability and decentralization have become the project's primary objectives. He articulated that World’s new trajectory aligns with its mission of creating a decentralized network. The initiative aims to streamline identity verification while ensuring that the process is universally accessible.

Moreover, the World App has undergone an upgrade to version 3.0, which enables users to manage their World ID credentials and access various services, including World Pay and World Chat.

World Pay supports decentralized transactions, while World Chat offers a secure messaging solution. The updated app also incorporates interactive games to promote user engagement and participation.

Promising Market Dynamics for the WLD Token

On the market front, Worldcoin's native token, WLD, has experienced a notable price surge and increased trading volume. As of the latest reports, WLD is valued at $2.49, reflecting a 12.23% rise over the previous 24 hours.

The token's market capitalization stands at an impressive $1.37 billion, supported by a trading volume of $414.5 million. The circulating supply has reached 549 million WLD tokens, indicating heightened interest in the market.

Additionally, WLD derivatives are witnessing significant growth, with a trading volume of $1.59 billion and $286 million in open interest. Bullish sentiment prevails, as long-to-short ratios exceed 1.7 across leading exchanges. However, the market remains volatile, with liquidations amounting to $2.43 million within 24 hours.

Conclusion

The World's rebranding and strategic initiatives highlight a robust commitment to decentralization and user accessibility.

By harnessing advanced technologies and expanding its user base, the project is poised to redefine identity verification on a global scale. With promising market dynamics for the WLD token, the future looks bright for the World as it embarks on this ambitious journey.

FAQ

Q: What is the new name of Worldcoin?
A: Worldcoin has rebranded itself as "World."

Q: What are the main goals of World following its rebranding?
A: World aims to reach 1 billion users and enhance global adoption of decentralized identity verification.

Q: What is World Chain?
A: World Chain is an Ethereum Layer 2 blockchain launched by World to support millions of users and facilitate decentralized identity verification.

Q: How many users does World have at launch?
A: At launch, World has 15 million users worldwide.

Q: What technology is used in the biometric Orb devices?
A: The upgraded Orb devices utilize iris scanning technology for identity verification.

Q: Where will the Orb devices be available?
A: The Orb devices will be accessible in public spaces, including cafes, to improve user accessibility.

Q: What updates have been made to the World App?
A: The World App has been updated to version 3.0, allowing users to manage their World ID credentials and access services like World Pay and World Chat.

Q: How has the WLD token performed in the market?
A: The WLD token has seen significant price increases and trading volume, currently valued at $2.49 with a market cap of $1.37 billion.

Q: What are the growth prospects for the WLD token?
A: The WLD token is experiencing bullish sentiment, with a long-to-short ratio exceeding 1.7 across major exchanges, indicating strong market interest.