Worldcoin Rebrands as ‘World’ and Launches Ethereum Layer-2 Network ‘World Chain’

Worldcoin Rebrands as ‘World’ and Launches Ethereum Layer-2 Network ‘World Chain’

In a keynote address on October 17, Worldcoin’s founder, Sam Altman, announced a major rebranding, shifting the project’s name to simply “World,” and unveiled a series of significant advancements. This change has already been reflected across the company’s website and social media channels.

The company is also upgrading its signature iris-scanning Orb devices. These devices are now equipped with powerful Nvidia hardware, boosting their performance by up to five times while also reducing their environmental impact by consuming fewer parts. Initially, the new Orbs will be available in select markets, with plans to deploy them in self-service kiosks, which should speed up the adoption of proof-of-human verification on a global scale.

In addition to this, World is expanding its identity verification options beyond the Orbs. A new feature called World ID Credentials will allow users to verify their identity through NFC-enabled government-issued passports, providing more flexibility in the verification process.

Another key development is the release of World App 3.0, which includes new tools such as the World ID Deep Face feature. This cutting-edge technology is designed to detect and block deepfake videos, ensuring greater security and authenticity in an age of AI-generated media. The app will also integrate with popular platforms like WhatsApp, FaceTime, and Zoom, making it easier for users to access World’s services directly through the apps they already use.

Launch of World Chain Mainnet

Following the keynote, World also officially launched its much-anticipated Ethereum layer-2 network, World Chain. First announced in April, World Chain is designed to improve efficiency and bring new capabilities to users by integrating key components such as World ID, World App, and the Worldcoin cryptocurrency.

One of the network’s unique features is its prioritization of verified human users over bots, ensuring that real people get access to block space and providing them with free gas allowances as an incentive to participate. Major projects like Uniswap, Optimism, Alchemy, and Dune have already joined the new blockchain ecosystem.

WLD Price Movement

Despite the array of new developments, the price of Worldcoin’s WLD token did not react positively to the announcements, dipping by 1.4% to $2.20. However, the token remains 28.4% higher over the past week and has surged by more than 47% in the past month.

These new initiatives mark a bold step forward for World, as the company aims to revolutionize identity verification and blockchain technology on a global scale.