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

Worldcoin has rebranded as World, alongside the launch of its Ethereum layer-2 network World Chain, and unveiled several key developments.

During its Keynote address on Oct. 17, Worldcoin founder Sam Altman announced the rebranding alongside upgrades for its iris-scanning Orb devices. The company has already rebranded to “World,” and the change is now visible across its social media platforms and website.

Meanwhile, the new Orb devices are getting an upgrade with Nvidia hardware, making it up to five times more powerful than before, all while shrinking in terms of its carbon footprint and needing fewer parts. 

The new Orbs will soon pop up in self-service kiosks, though they’ll initially be available only in select markets, the company added. This is expected to accelerate the deployment of proof of human verifications across the globe.

World is also expanding its identity verification beyond the Orbs, and users would be able to verify their identity via other avenues, including a program called World ID Credentials. This allows users to verify themselves using NFC-enabled government-issued passports, adding extra flexibility to the process.

The company also introduced World App 3.0, bringing new features to the platform. One of the standout additions is the World ID Deep Face feature, which the company claims can detect and block deepfakes. This tool is designed to ensure the authenticity of video content, offering users enhanced security in an era of increasing AI-generated media.

Alongside these innovations, World announced integrations with popular apps such as WhatsApp, FaceTime, and Zoom, making it easier for users to verify their identity and access World’s services within platforms they already use.

World Chain mainnet launch

The highly anticipated Ethereum layer 2 network, first announced in April, also went live following the keynote event. World Chain is expected to enhance efficiency and bring new functionality to users by integrating World ID, World App, and the Worldcoin cryptocurrency (WLD).

The network will prioritize onboarding verified human users over bots, giving them access to block space and offering an allowance of free gas to further incentivize participation.

The new blockchain already plays host to some of the top projects in the industry like Uniswap, Optimism, Alchemy, and Dune among others. 

WLD price tanks

Despite strong performance in recent weeks, the price of WLD didn’t react to the latest announcements, slipping 1.4% to $2.20 at the time of writing. However, the token remains up 28.4% over the past week and has gained over 47% in the past month.