Author | Fu He How, Odaily Planet Daily
Yesterday morning, Alex Blania and Sam Altman, the two founders of Worldcoin, announced in a live broadcast that Worldcoin was officially renamed World Network, and announced several major updates, including new Orbs and new verification methods, World ID 3.0, World App 3.0, and the launch of World Chain. In the future, the project will use World Chain, World ID, and Worldcoin as the three pillars to form a network composed of real, verified humans and support the further development of AI.
During this live broadcast, the price of WLD also fluctuated. OKX data showed that before the live broadcast, WLD reached a high of 2.3 USDT, but after the live broadcast, it fell to 2.08, with a maximum drop of nearly 10%. As of the time of writing, it has rebounded to 2.2 USDT. The official major update does not seem to have a significant impact on the price of the currency.
Odaily Planet Daily will analyze several major updates of this live broadcast and explore whether this update can empower the WLD token.
Worldcoin Updates
On September 30, Worldcoin announced this live broadcast on the X platform, with the accompanying text "Building AI on human terms takes all of us." At the time, the market predicted that this update might announce the linkage between Worldcoin and OpenAI, and use incentives to encourage users to participate in the construction of AI and empower WLD tokens, but in the end it was slapped in the face.
However, this live broadcast still had many highlights, such as the launch of Mini App and World Chain in World App 3.0, and the adoption of Verified Passport as a new verification channel, which was also a major move by World to lower the threshold.
World App 3.0 follows Telegram and becomes a new frontier for mini programs
The functions of World App were relatively simple before, more like a wallet, but this update introduced Mini App, which allows developers to build small programs similar to Telegram and WeChat to enrich World App.
The interesting point is that World App uses World ID to ensure the human identity of the app owner, which is in stark contrast to the large number of fake accounts currently on Telegram. However, due to different needs, the two cannot be simply seen as a competitive relationship.
The newly introduced Mini Apps platform allows third-party applications to run inside the World App and integrate deeply and anonymously with the user's World ID, wallet, and contacts. Mini Apps are everyday applications optimized for real users, through which users can do the following: chat and transfer money with friends, recharge mobile phone bills with digital assets, create and run human-only polls, and play games with other certified users.
For developers, it is very simple to build and publish Mini Apps, and based on the custom SDK, anyone can communicate with the World App.
In addition, World App 3.0 also improves the wallet function:
Speed ââââup: Support World Chain, the existing transaction speed is increased by up to 90%.
New features: Including World Pay (free global payments), convenient access to funds, new asset income Vault, and better ways to connect with the community.
In addition, World App 3.0 also supports the storage of World ID credentials. Users can choose to store physical NFC passport information in the device and use World ID to prove age, nationality and passport uniqueness without revealing their real identity.
Finally, World App has some additional features:
WLD Token Collection: Verified Passport holders can apply for WLD tokens before their World ID is fully verified by Orb (to be determined).
Deep Face Recognition: World ID Deep Face will be available this fall to help users verify their true identity in real-time video or chat and protect against the threat of deep fakes.
Simplify connections: New user name and contact labels make it easier for users to stay connected with the community.
World ID 3.0
World announced the launch of World ID 3.0. This version builds on its "Proof of Humanity" protocol with new features that push the boundaries of privacy, security, and scalability. In order to allow more people who have not yet verified on Orb to obtain World ID, World ID 3.0 introduces World ID credentials, which can expand the World Network faster and increase its utility.
In the United States, Malaysia, and the United Kingdom, World ID holders can choose to store their physical NFC passport information on the World App. All data remains on the user's device and is not stored elsewhere or accessed by the World Foundation, TFH, or any third party. Users can use World ID to prove age, nationality, and passport uniqueness without revealing their real identity. The World Foundation allows Verified Passport holders to apply for WLD tokens before fully verifying their World ID through Orb (yet to be determined).
In addition, World ID 3.0 introduces a new way to combat online fraud - World ID Deep Face. The technology combines Orb imaging, personal data custody and face authentication to verify authentic communication between users and resist the threat of deep fakes, whether in live video or chat interactions.
World ID Deep Face can be used between World Apps or installed on a computer and is compatible with video conferencing and video chat applications. Deep Face also includes an SDK for developers to integrate on World Network, providing a seamless experience for users and ensuring that deep fakes can be detected. The World ID Deep Face beta will be launched later.
Finally, World ID 3.0 introduces AMPC, Worldâs next-generation SMPC setup, ensuring privacy and security in sensitive data processing. By adding third-party AMPC hosts (primarily universities), World ID further decentralizes its infrastructure so that data can be verified and processed without revealing personal information, thus ensuring the anonymity of World ID interactions.
The core highlights of World Chain are priority block space and gas-free transactions
The launch of World Chain was mentioned in the official blog as early as April this year, because the transaction volume of Worldcoin users accounted for about 44% of OP Mainnet at that time, and could exceed 80% during peak periods. In order to meet the needs of subsequent development for scalability and transaction speed, World Chain came into being.
World Chain is built on OP Stack and incorporates World ID, providing priority block space and gas-free transactions for all verified human users, with the goal of supporting digital identity and financial networks for more than one billion unique identities. The mainnet is now online.
Main features of World Chain:
Gas-free transactions: All verified human users are exempt from paying gas fees, with initial funding coming from the Worldcoin Foundation.
Prioritized block space: Prioritize transactions from verified users, reduce the impact of automated systems, and reduce the risk of MEV attacks.
Native mobile distribution: With Mini Apps, World App users can directly access the app, improving usability.
WLD Token Airdrop: Verified users will receive WLD tokens to incentivize participation.
Among them, priority block space and gas-free transactions are the core highlights of World Chain, but the restrictions are verified users, that is, users who have passed the Orb iris scan.
The official introduction of World Chain is not detailed, and the application of WLD token in World Chain is not yet certain. The author will make further comments after the official disclosure.
WLD empowerment status unknown
Currently, the main challenge facing the World project is the lack of demand for WLD tokens, and the actual application scenarios are still not clear enough. Although the launch of World App 3.0 and World Chain provides users with more convenient functions and transaction experience, if WLD tokens are not effectively combined with these new functions, users' actual motivation to use may be weakened. The lack of clear incentive mechanisms and application scenarios will make investors and users confused about the future of tokens, thus causing price fluctuations.
In addition, the main reason why the market is optimistic about World is that its founder Sam Altman leads the AI ââgiant Open AI. Whether the two can be linked is the core narrative of World's future. But at present, it seems that the relationship is not obvious, and it is more like a move of "pulling the tiger's skin and pulling the flag".
Therefore, if World wants to realize its vision, the market needs more information about the empowerment and incentives of WLD tokens to enhance user confidence and drive demand growth. Only when the value of WLD tokens is combined with the core functions of World can sustainable development be achieved and the price of the currency be stabilized.
