What is World Chain? Human-First New Blockchain Goes Live

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As a seasoned analyst with over two decades of experience in tech and finance, I find myself increasingly intrigued by the latest development from the World Foundation – World Chain. Having witnessed numerous blockchain projects come and go, it’s refreshing to see one that prioritizes humans above all else.

The newest blockchain creation from the World Foundation, known as World Chain, has just become active. This groundbreaking development aims to put humans at the forefront of blockchain technology by focusing on creating practical applications and providing financial opportunities for people around the world. Already, more than 15 million users have either migrated or are in the process of transitioning to this platform. World Chain is committed to prioritizing authentic human users over automated ones, offering them easy access to blockchain space and innovative financial solutions.

World Chain: 15 Million Users Now Migrated to Human-First Blockchain Network

By October 17, 2024, World Chain boasts a user base of 15 million people, making it one of the most expansive blockchain networks with authenticated human users. These individuals, who had earlier used World IDs and relied on the World App, are either completed their migration or are in the midst of transitioning to World Chain. What sets World Chain apart is its emphasis on human users, using the World ID system as a means to prioritize genuine humans over automated systems.

Additionally, the World Chain blockchain encompasses an extensive array of services, bolstered by significant blockchain projects such as Optimism for seamless integration, Alchemy for on-chain programming, Uniswap for asset exchanges, and Etherscan for investigating transactions. The aim is to establish a more welcoming and diverse network.

Following the rebrand from Worldcoin to simply “World,” verified users now enjoy priority access to blockspace. Furthermore, they provide advanced financial resources such as stablecoins, designed to assist people across various geographical areas.

Innovative Features to Enhance Human-Centric Blockchain

World Chain presents various innovations designed to maximize the advantage of blockchain technology for human users. Authenticated users, recognized via World ID, are given preferential access to blockspace and an allotted gas amount to cover transaction expenses. This move lessens the obstacles for occasional users while making the system more user-friendly.

On the first day, World Chain brought together blockchain services from leading providers, enabling developers to construct and release applications that directly engage with actual users. Additionally, projects such as Fireblocks, Dune Analytics, and Safe are participating, offering advanced security, real-time data analysis, and multi-signature wallet functionality.

As an analyst, I find it noteworthy that World Chain has strategically prioritized human activity over automation to optimize its scalability. Initially, our blockchain aims for a throughput of 5 Mgas/s, which we plan to dynamically adjust as user demand fluctuates. This approach ensures the network remains both efficient and cost-effective, even as it accommodates millions of users in the future.

Financial Access and Inclusion through World Chain

World Chain prioritizes enhancing financial opportunities for its users, especially in areas where the adoption of stablecoins and cryptocurrencies is expanding swiftly. A significant portion of the 15 million World Chain users hail from places where digital currencies provide practical, everyday value.

Through connecting with worldwide access points (on-ramps and off-ramps), the network aims to simplify financial transactions, making them easily reachable for all individuals.

World Chain motivates developers to construct applications focusing on human-oriented scenarios such as governance, universal basic income, and bot-proof social media networks. Furthermore, the World Foundation is providing funds for projects aimed at widening the network’s influence. These aspects underscore the aim of developing a blockchain that is advantageous to people and addresses real-world requirements.

Impact on WLD Price and Market Activity

After the debut of World Chain, the Worldcoin (WLD) token witnessed a 17% price hike over the past week. But in the last day, it’s dipped by 1.31%, currently trading at $2.2. Since hitting a high of $11.9 in March, WLD has plummeted by about 81%.

Based on recent studies, there’s a possibility that Worldcoin could potentially rise to $10 if it manages to overcome the $3 resistance level and break past its 200-day exponential moving average. Factors like the expansion of the World Chain network and the upcoming “A New World” event in San Francisco, which is anticipated to bring significant advancements, could potentially drive up the price of WLD even further.

The introduction of World Chain and the continuous legal hurdles experienced by the World Foundation across different nations might persistently impact the token’s behavior. Yet, the progression of World Chain may bolster the value of WLD tokens if user proliferation and financial acceptance proceed according to plan.

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2024-10-18 18:20