Worldcoin has recently released an innovative wallet application called World App. This app has been designed to provide digital identity and finance solutions to its community. Using World ID, users can easily authenticate and receive Worldcoin tokens. The app also enables users to send and receive digital currencies globally, making it an essential tool for anyone who needs to conduct international transactions.
The World ID is an authentication model or digital passport that lets users prove their identity and still remain anonymous, thus, it enables private digital identity.
The World App is at Phase 1 of its utility offering and is accessible globally for the first time, Worldcoin said. The app was launched after “extensive development and beta testing in a limited number of countries.”
Worldcoin is looking at setting the app at the forefront of AI to empower individuals and enable a unique consensus mechanism known as Proof of Personhood. According to Worldcoin, it represents an “equitable global distribution of digital currencies and ultimately a path to AI-funded UBI.”
The World App won’t support every token or functionality in crypto; rather, it is designed to focus on a few key functionalities of Worldcoin and Ethereum. The App navigation starts with sign-up and authentication with World ID, verification with an Orb, and sign-in to websites, mobile apps, and crypto dapps. Interestingly, users will not have to share personal data like names and email addresses while onboarding the app.
World coin grants
Users in eligible countries can access Worldcoin grants via the World App, the app uses account abstraction through SAFE contracts to increase security. Its peer-to-peer payments support ENS usernames and trading is available through the Uniswap protocol. Deposits and withdrawals are enabled by partners, including Ramp and MoonPay. The beta is currently running on Polygon, the full version will run on an Ethereum rollup.
Worldcoin is quickly making waves, boasting impressive numbers in user analytics. With 1.5 million people joining the World App pre-release, and over 500,000 monthly users, its growth has been phenomenal.
On a daily basis, the app sees an impressive 60,000 transactions and 25,000 World ID checks, among other user actions. These numbers come from a diverse user base of over 100,000 people from countries around the world.
Worldcoin as well announced a $100 million funding round and a $3 billion previous investments valuation.
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