Worldcoin announces several major updates, but the power of WLD tokens remains a mystery

Original | Odaily Planet Daily ( @OdailyChina )

Author | Fu Howe ( @vincent 31515173 )

In the early hours of this 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 posting, 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. For example, World App 3.0 launched Mini App and World Chain, and adopted 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 the new frontier of mini programs

The World App’s previous functions were relatively simple, more like a wallet, but this update introduced the Mini App, which allows developers to build small programs similar to Telegram and WeChat to enrich the 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 apps to run inside the World App and integrate deeply and anonymously with the user’s World ID, wallet, and contacts. Mini Apps are everyday apps optimized for real users, allowing users to do the following: chat and transfer money with friends, top up their phone bills with digital assets, create and run human-only polls, and play games with other verified users.

For developers, building and publishing Mini Apps is very simple, and based on a custom SDK, anyone can communicate with World App.

In addition, World App 3.0 also improves the wallet function:

• Speed up: Support World Chain, the existing transaction speed is increased by up to 90%.

• New features: Including World Pay (free global payments), easy access to funds, a new asset yield 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, the 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 (not yet determined).

• Deep Face Recognition: World ID Deep Face will be available this fall to help users verify their true identity in live 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 has 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. To enable more people who are not yet verified on Orb to obtain a 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 information from their physical NFC passport on the World App, and all data remains on the users 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 (not yet determined) before fully verifying their World ID through Orb.

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 protect against 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 the 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, World’s next generation SMPC setup, ensuring privacy and security for 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 it could exceed 80% at peak times. 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 integrates 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.

The 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 of verified users, reduce the impact of automated systems, and reduce the risk of MEV attacks.

• Native mobile distribution: Through Mini Apps, World App users can directly access the application, 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 supplements 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 Open AI, an AI giant led by its founder Sam Altman. Whether the two can interact is the core narrative of Worlds future. But at present, it seems that the relationship is not obvious, and it is more like a move of pulling the tigers 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.