By now, you probably know that Sam Altman, the founder of OpenAI and ChatGPT, also has a crypto project. That's not new, but what is new is that his project, WorldCoin, has been making some serious moves lately. In fact, those moves are big enough for Sam himself to take the stage during their big announcement.
That's why in today's post, I want to catch you up on everything that's been going on with WorldCoin. Because I bet a lot of it has flown under your radar. But this is important though, because WorldCoin is not just another crypto project for the degens.
It's one of the few AI crypto projects that actually makes sense. And it's tackling problems that matter to everyone, not just the crypto enthusiasts. So let's dive right in and start with the big problem that WorldCoin aims to solve.
Table of Contents
What is Worldcoin
You see, we're living in an AI-driven world, and it's getting harder and harder to tell if you're talking to a real human or a bot. And this isn't just some theoretical issue, by the way. Bots are already taking over platforms like Twitter.
And as AI keeps on advancing, it's only going to get worse. Now, ironically, a lot of these problems stem from the very advances that Sam Altman made with OpenAI. But instead of leaving us to deal with the consequences by ourselves, he's also working on a solution.
That's where WorldCoin comes in. And their goal is quite simple. They're aiming to create the best way to verify real humans in the digital age.
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The Big Rebrand
Also, this is why they recently rebranded from WorldCoin to just World. Their new name signals that they're more than just a crypto project. They're on a larger mission to solve some of the biggest issues relating to identity, privacy, and financial access around the world.
Since their announcement, we've seen some interesting movement in the price of their token. But the big question is, can it sustain this momentum? Well, to answer that, we're going to have to dive into the fundamentals to really see what's going on. So if you're not familiar, World is a decentralized identity and financial network that's focused on solving identity verification for our AI-driven world.
Key Features
The key to making this happen comes down to two main products, their WorldID and their Orb. So WorldID is the largest identity protocol out there, with millions of verified users already on board. It's designed to verify real humans using biometrics, meaning physical characteristics, that prove that you're a unique individual.
In an era where AI-generated deep fakes are becoming a real problem, WorldID is crucial to help us distinguish what's real from what's not. But that's just one part of the equation. The other part is the Orb, a sleek biometric scanner that's powered by NVIDIA's latest chipset.
Their new Orb is a beast, by the way. It has five times the AI processing power of its previous version, with an impressive 100 trillion operations per second, making verifications faster and smoother than ever before. And they're doing all this while preserving privacy, by using something called ZK proofs.
Without getting too technical here, this means that they can verify that you are a real person without having to reveal your sensitive data. So it's secure, private, and decentralized, which is exactly what we need in this new era. And that brings us to the World Token, which is the driving force behind this entire ecosystem.
It captures value from the network and drives adoption. Like if you have a WorldID, you can claim World Tokens. And it's all about creating a positive cycle.
More users means more value, and more value attracts even more users. But anyway, all this brings us to a key question.
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What makes World so special? And why should you care?
Well, at a practical level, World is giving us the tools that we need to fight back against the AI-generated deepfakes and bots.
One of its standout features is its DeepFace technology, which is currently the only solution capable of combating deepfakes at scale. But what's more important is that it can be integrated into major platforms like Zoom or FaceTime. So imagine being able to verify that the person that you're talking to on a video call is actually who they say they are.
That's the kind of impact that we're talking about. So as you can see, World sits at the intersection of AI and crypto, tackling real-world problems like deepfakes and digital fraud with some truly impressive technology. But now let's move on to the World App, as this is the product that really ties everything together.
World App
The World App is a non-custodial wallet that lets you manage your assets, verify your identity, and access third-party services all from one place. Some even call it the first super app of crypto because it does so much. But the key here is simplicity and accessibility, as this app is not only for crypto enthusiasts, it's designed for everyone.
It also enables mini-apps, which lets developers build and access user identities seamlessly. This opens up all sorts of possibilities, such as on-chain reputation systems, credit scoring, un-gameable airdrops, and more robust governance models overall. So this is exactly the kind of innovation that makes crypto actually useful for everyday people.
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Adoption So Far
But anyhow, with all these impressive products, how has that translated into actual adoption, if at all? Well, the World App is already one of the largest non-custodial Ethereum wallets out there. It has over 15 million users and 5.4 million monthly active users, driving more than 150 million transactions in total.
Beyond that, there are over 7 million ORB-verified World ID holders across more than 160 countries, showing that people are seeing the value in what World is offering. User transactions have grown to about 50% of the Optimism mainnet's total activity, making World the largest application on that network.
And here's an interesting thing for you, there are actually more unique wallets holding $20 worth of World than there are unique wallets holding $20 USDC across all the Ethereum networks combined.
So this is a strong signal that people are not only using the app but are also placing real value in their ecosystem. Now, in terms of reach, human verification services are available in 16 countries, including Argentina, Germany, Singapore, and the US. And this kind of international presence is crucial for building a truly decentralized network that can serve everyone, everywhere.
Also, all these numbers show that World is more than just a concept, it's a thriving ecosystem that's already making an impact on a global scale. But now, with all this success, it's time to take things even further. Enter Worldchain, the next step in World's journey to support its rapidly growing user base.
World Chain
With millions of users, World needs a blockchain that can scale alongside it, providing the speed, efficiency, and human-centric design that it needs to keep up. That's where Worldchain comes in. It launched as the largest Layer 2 chain from day one, specifically built to prioritize human transactions and ensure fairness and accessibility for everyone.
The goal is to handle significant growth with a throughput target of 1 Ggas per second by 2025, which is around 20,000 ERC20 transfers per second. To put that in perspective, Visa can handle around 64,000 transactions per second, and UPI around 60,000. So this kind of scalability is crucial to serving millions of users around the globe.
With Worldchain, World ID holders can get on-chain and use their verified identity in new ways that weren't possible before. To make onboarding easy, Worldchain is rolling out on and off-ramps in 150 countries with even more expansion planned, like centralized exchange integrations. On top of that, Worldchain will be highly interoperable, working with Synapse, Wormhole, and Optimism to bridge different parts of the crypto world.
So by scaling up with Worldchain, World is positioning itself to meet the needs of its expanding user base while staying true to its mission, aka making crypto accessible, inclusive, and human-first. But here's the thing, for World to truly make an impact, it needs an ecosystem built with the right partners. Fortunately, that's exactly what they're doing.
Key Partnerships
Optimism provides the layer 2 scaling for Worldchain, Uniswap brings in the essential DeFi tools, while Flashbots helps with transaction privacy and gas optimization. They've also teamed up with Alchemy to support developers building dApps and Dune Analytics to enhance transparency by tracking and analyzing transactions. On the governmental side, World is working with the likes of Malaysia, Argentina, and the Dominican Republic to deploy World ID for various use cases at the national level.
By leveraging these strategic partnerships, World is creating an expansive ecosystem where developers, users, and even governments can collaborate, solving big challenges and unlocking new opportunities. So here's the thing, World is already making waves, that's for sure.
Final Thoughts
But the real question is, how far can it go? Well, with Worldchain launched, major partnerships forming, and millions of users already on board, it feels like we're only scratching the surface of what's possible.
Imagine a future where verifying your identity is seamless and privacy is built in for everyone, not just the crypto savvy. Well, World is setting the foundation to make that happen, and whether or not they succeed, this journey is going to be fascinating.