Blockchain
What is World Chain? Human-First New Blockchain Goes Live
World Chain, the latest blockchain development from the World Foundation, recently went live. The new development promises a human-first approach to blockchain, focusing on providing real-world applications and financial access to millions of people globally. With over 15 million users already migrated or in the process of transitioning, World Chain sets out to prioritize verified humans over bots, delivering accessible blockspace and financial solutions through innovative technology.
World Chain: 15 Million Users Now Migrated to Human-First Blockchain Network
As of October 17, 2024, World Chain has successfully onboarded 15 million users, making it one of the largest blockchain networks based on verified human users. These users, who previously held World IDs and utilized the World App, are either fully migrated or in the process of transitioning to World Chain. This blockchain is unique in its focus on humans, leveraging World ID, an identity verification system to prioritize human users over bots.
Moreover, the World Chain blockchain includes a wide range of services, supported by major blockchain projects like Optimism for interoperability, Alchemy for on-chain development, Uniswap for asset swaps, and Etherscan for transaction exploration. The goal is to build a more inclusive network.
After rebranding from Worldcoin to “World,” verified users now have access to prioritized blockspace. Additionally, innovative financial tools like stablecoins are available to support individuals in different regions.
Innovative Features to Enhance Human-Centric Blockchain
World Chain introduces several features aimed at ensuring that human users benefit most from the blockchain. Verified users, identified via World ID, are granted access to prioritized blockspace and even a gas allowance to cover transaction costs. This initiative reduces the friction for casual users while making the network more accessible.
On the first day, World Chain integrated services from top blockchain providers, ensuring that developers can build and deploy applications that directly interact with real humans. Projects like Fireblocks, Dune Analytics, and Safe are also on board, providing enhanced security, real-time analytics, and multisignature wallet support.
With World Chain prioritizing human activity over bots, the network will scale effectively. More so, the blockchain is targeting a throughput of 5 Mgas/s, which will be scaled up as the demand increases. This will ensure the network remains efficient and low-cost, even as millions of users join the system.
Financial Access and Inclusion through World Chain
Additionally, World Chain focuses on improving financial access for its users, particularly in countries where the use of crypto is growing rapidly. Many of the 15 million users of World Chain come from regions where digital currencies offer real-world utility.
By integrating with global on-ramps and off-ramps, the network will make financial transactions more accessible for everyone.
In addition, World Chain encourages developers to build applications for human-centric use cases, including governance and bot-resistant social media platforms. Additionally, the World Foundation is offering grants to projects that help expand the network’s impact. These features reflect the vision of creating a blockchain that directly benefits humans and supports real-world needs.
Impact on WLD Price and Market Activity
Following the launch, the Worldcoin (WLD) token saw a price increase of 17% in the last 7 days. However, despite this upward movement, the token has experienced a 1.31% decline over the past 24 hours, trading at $2.2. Since reaching a peak of $11.9 in March, WLD has seen an 81% drop in value.
According to recent analysis, Worldcoin could surge back to $10 if it could overcome the $3 resistance and cross the 200-day exponential moving average. Catalysts such as World Chain and the upcoming “A New World” event in San Francisco, could further boost WLD price
The ongoing legal challenges faced by the World Foundation in various countries will continue to influence the token’s performance. However, the expansion of World Chain could stabilize WLD price if user growth and financial adoption continue as expected.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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