Worldcoin, founded by OpenAI CEO Sam Altman, announced its own Layer-2 Blockchain called World Chain. Blockchain, which is said to be released this summer, will belong to the Worldcoin project. Additionally, Worldcoin will handle its management. Despite this important development, although the altcoin price increased, this remained limited. The downward sentiment in the market, including Bitcoin, was effective in this.
Worldcoin announced World Chain!
cryptokoin.comAs you follow from , Worldcoin is on the target board for reasons such as data privacy violation. However, the altcoin project continues on its way. In a recent development, Worldcoin project lead developer Sam Altman’s Tools for Humanity announced that it will launch its own Layer-2 Blockchain to increase efficiency while onboarding new users.
In its statement, the company stated that the name of Blockchain will be World Chain. He also noted that the Blockchain will be located on Ethereum. Tools for Humanity said users verified as humans “will enjoy priority block space over bots and some free gas.”
Altcoin price is above the important support level!
The impact of recent developments on the altcoin price remained limited. WLD reached the level of $4.82 from $4.70 due to the negative sentiment in the market. Worldcoin remained in a closed range between $1.70 and $2.91 for the first two months of this year. Thus, it exhibited a neutral trend. As market volatility increased, the bulls gained momentum and jumped over 443% in 32 days. During this period, WLD recorded a new ATH at $11,820. However, the bulls lost momentum after recording ATH. Since then, the altcoin price has traded under a bearish influence. This reflected increasing selling pressure in the crypto industry.
What is the idea behind Worldcoin?
Sam Altman is the CEO of high-profile artificial intelligence company OpenAI. But Altman is also the co-founder of Tools for Humanity. The Worldcoin project assigns World IDs to people after they prove they are human with an iris scan. Additionally, the altcoin project gives cryptocurrency in the form of WLD tokens to people who sign up. The vision behind the Worldcoin project revolves around the idea that the future health of the internet will require a system that separates humans from non-human actors.
According to the statement, World Chain aims to “increase capacity so new people can continue to participate at scale and existing users can enjoy faster, cheaper and more reliable transactions.” Tools for Humanity plans to release the new Blockchain this summer. Meanwhile, more than 5 million people are currently signed up for Worldcoin, according to its website.
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