Worldcoin Rolls Out World ID To Solana, WLD Price To Hit $3?

by

As a seasoned analyst with years of experience navigating the dynamic landscape of blockchain technology and digital currencies, I find the recent developments surrounding Worldcoin Orb verification service particularly intriguing. The integration of World ID onto the Solana (SOL) blockchain via Wormhole is a significant stride that opens up new possibilities for developers on this Layer-1 blockchain.

As a crypto investor, I’m thrilled to announce that Worldcoin Orb, the verification service from World ID, has now transitioned onto the Solana (SOL) blockchain. This exciting development comes as a result of the successful implementation of the interoperability protocol known as Wormhole. This milestone not only expands the potential reach of my projects on this Layer-1 blockchain but also opens up a world of opportunities for me to collaborate with the growing number of developers who are already integrating World ID into their applications and platforms. This is a significant step towards the widespread adoption of decentralized identity solutions.

World IDs on Ethereum and Solana

Previously, only Ethereum developers had effortless access to World ID’s unique identity and human verification features, even though technically, World ID could be utilized on other blockchains. Now, Solana joins Ethereum as the second blockchain that can quickly authenticate World IDs. Furthermore, this development opens up opportunities for developers to construct applications that emphasize authentic users across the Solana network.

Robinson Burkey, one of the founders at the Wormhole Foundation, emphasized that integrating World ID onto the Solana platform represents a significant leap in global identity verification.

By combining World ID and Wormhole Queries, developers now have a simpler way to construct apps that prioritize genuine users across multiple blockchains, thereby enhancing the reliability within decentralized systems,” he explained.

Simultaneously, this milestone has been reached by the company that developed the orb verification technology, but they are encountering some regulatory hurdles. Just recently, it was disclosed that the Deputy Prime Minister and head of the Monetary Authority of Singapore (MAS), Gan Kim Yong, has launched an investigation into Wordcoin, as seven individuals are under suspicion for illegal trading activities.

Each of the seven individuals was under suspicion for participating in transactions involving these accounts and tokens, activities which might breach the Payment Services Act of 2019. Furthermore, it’s important to note that, as per the regulations set by the MAS, Worldcoin is not recognized as a certified payment service provider under the terms of the PS Act.

As a result, he cautioned Singaporean consumers to stay alert and refrain from endangering their World IDs.

WLD Price Sees Major Liftoff

On one side, there’s been a noticeable rise in the WLD price lately. This surge seems to be driven primarily by the excitement generated by the launch of OpenAI’s o1 AI model.

Following repeated attempts to break through a significant barrier, the token saw a surge in value, jumping by approximately 16% within a single 4-hour timeframe before pulling back and stabilizing at about 5%. At the moment of writing this, WLD was trading at $1.48 and had experienced a 5.62% rise over the last 24 hours.

According to a recent examination of WLD’s price trend, there is a strong belief that the token may surge by approximately 34%. Such an increase might propel the cryptocurrency to reach $2.00. If the purchasing momentum continues, it could potentially breach the $2.00 psychological level and aim for the next significant resistance at around $3.20.

Read More

2024-09-13 18:48