Worldcoin rebrands to ‘World,’ debuts layer-2 network and new features

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As a seasoned analyst with a keen eye for emerging trends and technologies, I must admit that World’s recent developments have caught my attention. The rebranding to “World” is a bold move, signaling a shift towards a more inclusive and unified vision. The upgraded Orb devices, now powered by Nvidia hardware, are not just technologically advanced but also eco-friendly, which is a welcome change in today’s climate-conscious world.

Worldcoin underwent a rebranding, now known simply as “World,” along with the debut of its Ethereum layer-2 network, World Chain. Additionally, they revealed some significant advancements in their operations.

At its October 17 keynote speech, Worldcoin’s founder Sam Altman unveiled a rebranding along with enhancements for their iris-scanning Orb devices. The company has already adopted the new name “World,” and this change is now evident on all its social media channels and official website.

Hello World

— World (@worldcoin) October 17, 2024

Simultaneously, the latest Orb gadgets are being enhanced with Nvidia components, boosting their power by up to five times compared to earlier versions. This upgrade also results in a smaller environmental impact and reduced need for components.

In the near future, you’ll start spotting the new Orbs at self-service kiosks; however, they will first appear in specific regions. The company has mentioned this development. It’s anticipated that this rollout will speed up the global implementation of human verification proofs.

The world is broadening its methods for identity verification beyond just Orbs, enabling users to authenticate their identity through alternative channels. One such method is World ID Credentials, which empowers users to verify themselves using NFC-compatible government-issued identification documents like passports, thereby increasing the process’s versatility.

In addition to launching World App 3.0, the firm unveiled some fresh functionalities. One notable innovation is the World ID Deep Face function, a feature that the company asserts can identify and prevent deepfakes. This instrument is specifically designed to verify the authenticity of video material, giving users advanced security in an age where artificial intelligence-produced media is becoming more prevalent.

In addition to these new advancements, World has also unveiled connections with widely-used applications like WhatsApp, FaceTime, and Zoom. This means that users can now quickly confirm their identity and utilize World’s services directly from the apps they are already accustomed to using.

World Chain mainnet launch

The long-awaited Ethereum layer 2 network, initially unveiled in April, was launched after the main keynote speech. It’s anticipated that World Chain will boost efficiency and provide additional features for users by combining World ID, World App, and the Worldcoin cryptocurrency (WLD).

The system ensures that authenticated human users are given preference when it comes to joining the network, granting them the right to use the blockchain and providing a certain amount of free gas as additional encouragement for engagement.

The latest blockchain is currently accommodating some of the leading initiatives within the sector, including Uniswap, Optimism, Alchemy, Dune, and several others.

WLD price tanks

In contrast to its robust performance over the last few weeks, the value of WLD didn’t budge following the recent announcements, instead dipping by 1.4% to $2.20 at the current moment. Yet, it’s worth noting that the token has risen by an impressive 28.4% in the past week and experienced a growth of more than 47% within the last month.

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2024-10-18 10:34