Despite huge legal hurdles, the World Coin project team confirmed that they are working on a new blockchain network development to enable a better level of decentralised human identity verification protocol via World ID.
WorldCoin (WLD) is a newly launched popular crypto project. In 2023, this project was launched by the OpenAi CEO Sam Altman. However, OpenAi & WorldCoin projects are totally independent of each other but people believe that Atman will use his OpenAi expertise to give a better level of advanced support to the WorldCoin crypto project.
On 18 April 2024, The WorldCoin crypto team announced that they are engaged in the development of a new blockchain network called “World Chain”.
That blockchain network will be secured by the Ethereum network and play a vital role in the crypto sector as an Ethereum layer-2 scaling network.
That new blockchain network will be available to use for everyone, individuals & developers.
With the help of a native blockchain network, the WorldCoin project team will provide a more decentralised way of human verification protocol.
It is expected that the World chain blockchain will be launched by later the summer of this year.
World coin & legal hurdles
World coin crypto project faced huge legal hurdles in multiple jurisdictions. As of 2024, this crypto project has faced legal action in at least 120 countries, including Portugal and Spain.
Recently the Argentine authorities fined 1 billion pesos ($1.2 million) for operating the Worldcoin project against the rules & laws of the country.
World coin price action
The current trade price of World coin is $4.67 & this trade price is 28% down over the last 7 days, following the war news around Israel vs Iran.
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