World Announces Seven New Announcements / Rebranding to Wolrd / New Orb Device / New Authentication Method "World Credenitials" / "World ID Deep Face" to Combat Online Fraud, and More
A major announcement was made on October 17.
Good morning.
Mitsui from web3 researcher.
Today we will discuss World's rebranding and seven new announcements.
🌏World announces 7 major updates
- ① Worldcoin isRebranding to Wolrd
- ② Announcing a new Orb device
- ③Announcement of new authentication method "World Credenitials"
- ④ Announcement of "World ID Deep Face" to combat online fraud
- ⑤ Launch of "World App 3.0" with Mini App
- ⑥ World Chain'sMainnet Launch
- ⑦ Release of AMPC
💬 Excellent brand andPositioning
🌏World Announces Seven Major Updates
On October 17 in San Francisco, Worldcoin co-inventors Alex Brania and Sam Altman announced an important update to the project they started five years ago.
Details can be viewed in the video above, but here we will discuss the seven major updates announced there.
①Worldcoin rebrands to Wolrd
As the project grew in size and the importance of World ID increased, the name "Worldcoin" no longer correctly described the mission of the project. Therefore, the project name was changed to "World (World Network)".
With three main pillars, "World Chain," "World ID," and "World Coin," World has become a project built for a bright future where humans remain at the center of AI progress.
②Announcement of the new Orb device
A new model of Orb, the device that performs iris recognition for World ID issuance, has been announced.
The new Orb is powered by the latestNVIDIA Jetsonchipset and delivers nearly 5x improvement in AI performance compared to previous versions, making human proof of verification faster and more seamless.With nearly a 5X improvement in AI performance over previous versions, proof of human verification is even faster and more seamless.It also includes enhanced infrared and visible light cameras that can adapt to a wider range of environments and settings, improving low-light performance, tamper detection, and image security.
In addition, the 5G connectivity capability allows Orb to be used quickly and reliably in even more locations around the world where Wi-Fi is not available.With 30% fewer parts and easier assembly, it is now more feasible for third parties to manufacture and assemble the Orb in the future.
This update will bring Orb to many countries.New authentication experiences will also be tested.For example, a partnership with Rappi, the top delivery app in Latin America, will allow Orb to be delivered to your home.
③Announcement of a new authentication method, World Credenitials
Until now, World ID could only be obtained by authenticating with Orb, which, although present around the world, required an offline visit.
With this update, you can now request a WLD token by holding an NFC-enabled government-issued ID card over the World App.Although this is only a complete authentication process with Orb, limited access, including token distribution, can now be joined right from home.
Initially, the program will be launched in the United States, Malaysia, and the United Kingdom, and will be expanded to many other countries around the world in the coming weeks.
④Launch of "World ID Deep Face" to combat online fraud
"World ID Deep Face" is a cutting-edge technology combining Orb imaging, personal data management and Face AuthOrb Imaging, Personal Data Management, and Face Auth, a cutting-edge technology that combines real-time video and chat interactions to ensure that you are communicating with a real person and combat the growing threat of deepfakes.
In short, it can prove that the person you are conversing with online is a real person, not a deepfake.
It can be used between World Apps or installed on a computer, and works with common video conferencing and video chat apps.
⑤Announcement of "World App 3.0" with mini-applications
World App has been significantly updated to include a mini-application feature inside the app.These mini-apps allow third-party apps to run directly within World App and integrate deeply and anonymously with your World ID, wallet, and contacts.
For example, you can chat with friends, send money to friends, create and run human-only surveys, and play games with authenticated humans.
Mini App is a web app that runs a powerful custom SDK, making it easy for anyone to build a mini app.
The World App Wallet feature has also been updated: the World App Wallet is already the third largest crypto asset wallet in the world, with over 150 million transactions and $1.5 billion in volume.and more convenient.
First, World Chain is now supported.This will speed up existing transactions already in the World App by up to 90%.
The following new features have been added to make it even easier to use
A service that lets you pay any person, store, or app in the world for free in just secondsWorld Pay"
Newon/off ramp that allows you to deposit and withdraw funds more easily in the World App
NewVault that allows you to earn from assets held in the World App
⑥World Chain mainnet launch
The mainnet of World Chain, which was announced in April and the testnet was released in July, is now launched.
World Chain is an L2 chain built by OP Stack and participating in Optimism Superchain.It is designed to prioritize anonymous and verified human interactions over bots and AI.One of the core features for this is the Priority Blockspace for Humans (PBH).
PBH allows verified users to execute transactions at the highest priority of the block.For the normal OP Stack transaction flow, the presence of the World Chain block builder allows for reordering of transactions.
In addition, a free gas allocation for transactions exists for World ID holders.
Although World Chain is a general-purpose chain, it is intended for use in two main use cases.
Anonymous Human Verification: World Chain is natively integrated with World ID, the only anonymous identity verification protocol that currently exists on-chain.World Chain is natively integrated with World ID, the only anonymous identity verification protocol that currently exists on-chain.If you want to engage with real people, World Chain is a great place to build.
Financial Access: Currently, World ID holders are largely located in countries where the adoption of stablecoin and other crypto assets is growing most rapidly.By placing humans at the center of a network of products that provide additional means of financial access and inclusion, World Chain hopes to accelerate this trend.Integrated with a global network of on-ramp and off-ramp and stable coin markets, we support millions of users around the world who hold cryptocurrency.
World Chain will also be supported from day one of its release by the best blockchain service providers and applications that allow developers to build on-chain.For example, Optimism for shared security and interoperability , Alchemy for on-chain building, Uniswap for asset swapping, Zerion for real-time APIs, Dune Analytics for data analytics, Dune Analytics for chain explorationEtherscan, Fireblocks for institutional custody, and Safe for multi-signature wallet support.
Looking at the data immediately after release, we had 18,985 DAUs and 29,450 total accounts.It has only been a few days so the migration has not progressed that far, but it is growing steadily.
The number of transactions is 776,598 per day.
Behind this number of transactions is actually an explosion of memes.
Two high-profile memes exist, the first, Moondeng, saw its market capitalization soar to $3.4 million, a whopping 65,000% in the first 24 hours.Another meme token, Bowser, saw 3,712 transactions recorded in less than 24 hours, with a market capitalization of $3.4 million.
⑦AMPC release
AMPC (anonymous multi-party computing / anonymized multi-party computation) has been released.
This is World's next-generation open source Quantum Secure Multiparty Computing (SMPC) setup, which anonymizes and secures the iris code of World ID holders.The user's biometrics remain secure, private, and anonymous throughout the entire process.
It will also be operational with a reputable third party, Nethermind, in addition to existing parties to provide independent verification and enhance integrity and privacy.In addition, both the University of Erlangen-Nuremberg (FAU) and the Center for Responsible Distributed Intelligence (RDI) at the University of California, Berkeley have signed participation agreements.Thus, the AMPC will soon be operated exclusively by independent and trusted organizations; the World Foundation and Tools for Humanity will no longer function as stakeholders in the AMPC.
💬Superior branding and positioning
Well, these were the major updates.The official announcement article states that there were five announcements, but for the sake of clarity, I have divided them into seven in this article since several announcements were included within.
Following these announcements, the price of WLD has risen slightly.And before you know it, it has risen to 59th place in the market cap.
We believe that the great thing about World is the way it has built its brand and positioning.
The strategy with this update is certainly a good move.The rollout of mini-applications, the deployment of chains, and the announcement of new authentication methods will certainly increase the active rate of the World App and further energize the ecosystem.There is also much to learn from the fact that these are being announced all at once, rather than one at a time.
World already has a certain number of users, but it would be difficult to attract developers if we only announced the chain.Therefore, by announcing the development of mini-applications at the same time, we will make it possible to deploy applications on the Wolrd App, and the announcement of a new authentication method will also contribute to increasing the number of Wolrd App users.
As was the case with the initial model of having people authenticate Orb and distributing only tokens, the split strategy of announcing all at once when the chicken-and-egg theory occurs and continuing to distribute only token rewards for the time being before that is also amazing.
However, I believe that the biggest reason for the popularity and excitement of the company is the fact that Sam Altman is a founding member of the company.That is what the brand is all about, and World is using it to its fullest advantage.
Frankly, every web3 project is often the case that its conception may be right, but it takes a significant network effect to make it happen.And most of the time, the pattern is to abort due to lack of branding and financial resources to make it happen.
World has an overwhelming brand power, and yet it dares to go through the painstaking process of physical certification to prevent latecomers from being chased.This makes it difficult to follow up on a project that has generated a lot of buzz by the same means.
The positioning of human authentication and physical authentication in this area, the strategic nature of doing so, and the power of the brand and its use to buff everything may not be possible to imitate, but it is a learning experience.
This presentation is also a World stand-alone event.Usually web3 projects are announced in conjunction with large conferences, but World was announced at a stand-alone event.I think this is probably what they are aiming for.Announcements during large conferences will be buried in other press and will not build top-tier branding because the explanation will be that the announcement was made at a XX conference.
It may be a strategy that can be done because of its global name recognition, but I got the impression that they are quite conscious of building their brand as well and trying not to sell at a discount.
All in all, I think World is going to be even more exciting in the future, including chains.We will continue to follow it!
🔗Image/Reference:HP / X
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mitsui
A web3 researcher. Operating the newsletter "web3 Research" delivered in five languages around the world.
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