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What is World Chain? Human-First New Blockchain Goes Live

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World Chain, the latest blockchain development from the World Foundation, recently went live. The new development promises a human-first approach to blockchain, focusing on providing real-world applications and financial access to millions of people globally. With over 15 million users already migrated or in the process of transitioning, World Chain sets out to prioritize verified humans over bots, delivering accessible blockspace and financial solutions through innovative technology.

World Chain: 15 Million Users Now Migrated to Human-First Blockchain Network

As of October 17, 2024, World Chain has successfully onboarded 15 million users, making it one of the largest blockchain networks based on verified human users. These users, who previously held World IDs and utilized the World App, are either fully migrated or in the process of transitioning to World Chain. This blockchain is unique in its focus on humans, leveraging World ID, an identity verification system to prioritize human users over bots.

Moreover, the World Chain blockchain includes a wide range of services, supported by major blockchain projects like Optimism for interoperability, Alchemy for on-chain development, Uniswap for asset swaps, and Etherscan for transaction exploration. The goal is to build a more inclusive network. 

After rebranding from Worldcoin to “World,” verified users now have access to prioritized blockspace. Additionally, innovative financial tools like stablecoins are available to support individuals in different regions.

Innovative Features to Enhance Human-Centric Blockchain

World Chain introduces several features aimed at ensuring that human users benefit most from the blockchain. Verified users, identified via World ID, are granted access to prioritized blockspace and even a gas allowance to cover transaction costs. This initiative reduces the friction for casual users while making the network more accessible.

On Day 1, World Chain integrated services from top blockchain providers, ensuring that developers can build and deploy applications that directly interact with real humans. Projects like Fireblocks, Dune Analytics, and Safe are also on board, providing enhanced security, real-time analytics, and multisignature wallet support.

With World Chain prioritizing human activity over bots, the network is designed to scale effectively. The blockchain will initially target a throughput of 5 Mgas/s, which will be scaled up as the demand increases. This will ensure the network remains efficient and low-cost, even as millions of users join the system.

Financial Access and Inclusion through World Chain

A core focus of World Chain is improving financial access for its users, particularly in countries where the use of stablecoins and cryptocurrencies is growing rapidly. Many of the 15 million users of World Chain come from regions where digital currencies offer real-world utility. 

By integrating with global on-ramps and off-ramps, the network will make financial transactions more accessible for everyone.

World Chain also encourages developers to build applications for human-centric use cases, including governance, universal basic income, and bot-resistant social media platforms. Additionally, the World Foundation is offering grants to projects that help expand the network’s impact. These features reflect the vision of creating a blockchain that directly benefits humans and supports real-world needs.

Impact on WLD Price and Market Activity

Following the launch of World Chain, the Worldcoin (WLD) token saw a price increase of 17% in the last 7 days. However, despite this upward movement, the token has experienced a 1.31% decline over the past 24 hours, trading at $2.2. Since reaching a peak of $11.9 in March, WLD has seen an 81% drop in value.

According to recent analysis, Worldcoin could surge back to $10 if it could vercome the $3 resistance and cross the 200-day exponential moving average. Catalysts such as the growth of World Chain and the upcoming “A New World” event in San Francisco, which promises significant updates, could further boost WLD price 

The rollout of World Chain and the ongoing legal challenges faced by the World Foundation in various countries may continue to influence the token’s performance. However, the expansion of World Chain could stabilize WLD price if user growth and financial adoption continue as expected.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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D.O.G.E. Is Crucial for Fighting US Inflation

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3 hours ago

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November 17, 2024

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The naming of the Department of Government Efficiency, D.O.G.E., under the forthcoming administration of Donald Trump, has caused much debate especially when it comes to US inflation – Tyler Winklevoss. Tyler, the co-founder of Gemini, commented on D.O.G.E., which proposed to root out government waste and fight US inflation that rose over 2.6%. He has insisted that such initiatives are crucial in the fight against the “silent tax” of inflation, which affects poor Americans most.

D.O.G.E. Is Crucial to Combat Inflation’s ‘Regressive Pressure’

The announcement of the Department of Government Efficiency (D.O.G.E.) under a potential Trump administration has sparked considerable debate. Tyler Winklevoss, co-founder of Gemini, weighed in on the proposed initiative, which aims to eliminate wasteful government spending and tackle the price rise. US inflation rose by 2.6% year-over-year last month, slightly up from September.

He emphasized the importance of addressing the price rise, a “silent tax” that disproportionately burdens low-income Americans, arguing that such measures are essential for economic fairness and sustainability.

Be it as it may, Tyler Winklevoss, who recently criticized SEC Chair Gary Gensler, calling him evil, said now that inflation requires a more innovative approach to manage because it works to destroy wealth and exert regressive pressure on economies, particularly those that are ill-equipped to bear it.

Winklevoss statement on D.O.G.E.Winklevoss statement on D.O.G.E.

The Department aims to reduce federal inefficiencies, but its potential impact on US inflation remains a main subject. Critics suggest that the lack of clear governmental power could limit D.O.G.E.’s ability to tackle it effectively.

Previously, Tyler severely criticized the Chairman of the SEC, Gary Gensler, over his approach to regulating cryptocurrencies. Specifically, he exclaimed that Gensler should be permanently removed from any positions of influence, claiming he undermined the crypto industry to further his political ambitions.

Meanwhile, the US dollar is constantly weakened as a store of value because of the increase in the money supply by the Federal Reserve. Keeping these factors in mind, the Winklevoss brothers are of the view that Bitcoin is going to grow significantly.

This is upon the basis of the fact that its adoption—majorly by central banks—could see a spike in price, probably up to $500,000 per coin. Just for comparison, regarding the inflation, recently Peter Brandt predicted Bitcoin to go bullish, suggesting that the crypto could hit new highs in the coming days.

Tyler Winklevoss Urges Action on Inflation’s Impact on Low-Income Americans

The US inflation rose by 2.6% year-over-year last month, slightly up from September. This follows a series of rate cuts by the Federal Reserve. These cuts aimed to address cooling prices and a weaker labor market. The October Consumer Price Index (CPI) met predictions and marked a rise from September’s 2.4%. This increase coincided with a 0.5 percentage point rate cut and a second reduction in November.

The Winklevoss twins were describing some unique attributes that set Bitcoin apart: its immutable supply of 21 million coins creating scarcity and a decentralized system offering security and protection against physical seizure. Such qualities make it “digital gold” or “gold 2.0.”

Tyler Winklevoss views Bitcoin’s scarcity and decentralization as key solutions to counter inflation and protect against economic instability. He advocates for embracing innovative financial tools to ensure equitable opportunities in the face of rising costs.

In contrast to more traditional inflationary hedges such as oil, gold, and the US dollar, Bitcoin is resistant to geopolitical volatility and central bank manipulation. Whereas oil, though necessary, undergoes price discrepancies, gold faces practical challenges regarding transportation and the risk of confiscation.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.

Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.

Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.

Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC, XRP, & Dogecoin Steal Spotlight

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6 hours ago

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November 17, 2024

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The global crypto realm has closed another week, with remarkable advancements witnessed across the broader sector. Bitcoin (BTC) price pumped to attain a new ATH, whereas the broader market mirrored optimism. Simultaneously, Ripple’s XRP achieved unprecedented levels, sparking market discussions. Moreover, Dogecoin echoed optimism across the broader market amid D.O.G.E-related developments.

Here’s a brief report on some of the top crypto market headlines reported by CoinGape Media in the past seven days.

Bitcoin Hits New ATH Amid Crypto Bull Market

Notably, this week saw BTC price attain a new height of $93,434.36, sparking a tidal wave of optimism among market investors. The coin soared in tandem with increased institutional interest post-U.S. elections, as seen with Bitwise hitting $10 billion in client assets under management.

Further, amid the flagship crypto’s bullish movement, top trader Peter Brandt and investment firm Bernstein predicted BTC price rally to $200K. However, it’s also noteworthy that BTC witnessed slight turbulence this week, attributable to macroeconomic events.

The US CPI inflation rose to 2.6%, raising investor concerns over future movements. Nevertheless, the market closes this week in a bullish state.

XRP Gains Momentum

Simultaneously, XRP price extended weekly gains to 93%, solidifying investor optimism on the asset. Ripple CEO Brad Garlinghouse took the stage to reveal key reasons behind the coin’s strong rally this week, pointing out the post-election environment as a pro-cryptocurrency era.

Also, with speculations of SEC Chair Gary Gansler’s resignation on the rise, market sentiments for Ripple’s coin remain optimistic. Meanwhile, the XRP documentary premiered this week, garnering additional market attention toward the crypto.

Dogecoin Gains Traction Amid D.O.G.E. Saga

Simultaneously, DOGE price extended weekly gains to 54% over the past seven days, primarily attributable to Elon Musk’s D.O.G.E’s saga post-U.S. elections. The American entrepreneur was appointed as the Department of Government Efficiency head alongside V. Ramaswamy under Trump’s cabinet, bringing significant attention to Dogecoin.

On the other hand, with the Dogecoin lawsuit against Elon Musk withdrawn, market sentiments orbiting the meme token remain bullish. Simultaneously, CoinGape Media reported DOGE whale accumulations to have burgeoned substantially this week. Also, the leading DOGE wallet, MyDoge, announced the launch of DogeOS shortly afterward.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Slips to $90K, XRP Rally, Meme Coins Fall

Published

9 hours ago

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November 17, 2024

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Cryptocurrency Prices Today: Bitcoin fell below $90K, trading within the range of $87,500 to $93,000 for the past four days. Meanwhile, XRP price broke above $1 after a more than 25% upside in a day, hitting a two-year high. The Meme coins sector saw massive selloffs, with PNUT price dropping by 15%. NEIRO, MOG and POPCAT, PEPE prices tumbled 6-13%.

The global crypto market cap jumped 0.28% to $3.04 trillion, but total crypto market volume dropped by 10% amid selling by traders.

Here’s a brief overview of some of the top cryptocurrencies by market cap and their price movements on November 17.

Cryptocurrency Prices Today: BTC and XRP Hold Market Gains

Bitcoin is trading at $90,416, maintaining its recent strength, While Ethereum (ETH) has declined by 1.81% from yesterday, Solana (SOL) surged, gaining 5.27% and diverging from ETH’s movement.

XRP became the top performer among the leading cryptocurrencies, rising by 12.43%. This boost added to the overall bullish market sentiment.

Bitcoin Price Today

Bitcoin (BTC) is trading at $90,416, reflecting a 0.80% decrease from the previous day. Over the past 24 hours, BTC low and high ranged between $89,417 and $91,763, respectively. Bitcoin market cap stands at $1.79 trillion, with a market dominance of 59.19% and a trading volume of $44 billion.

In an interesting development, a Satoshi-era Bitcoin whale has earned $180 million after holding BTC for 14 years. This impressive gain underscores the remarkable returns that early adopters of Bitcoin have achieved over time.

Ethereum Price Today

Ethereum (ETH) has declined by 1% and is currently trading at $3,122. Its 24-hour low and high ranged between $3,039 and $3,218. Ethereum’s market cap now stands at $371 billion, with a market dominance of 12.31%, and a trading volume of $28 billion in the past 24 hours.

Analysts expect Ethereum price to break through the $4,000 mark, as it remains tightly bound below this critical resistance level.

Solana Price Today

Solana (SOL) has increased by 5.61% over the last 24 hours, with its price now at $233. The coin’s daily low and high have been $212 and $235, respectively. With a current market cap of $110 billion, Solana ranks as the fourth-largest cryptocurrency by market capitalization.

Technical indicators suggest a positive outlook for Solana, with many analysts forecasting a potential rise toward the $1,000 mark in the near future. The coin’s strong performance is seen as a signal of growing investor confidence and interest in Solana’s long-term potential.

XRP Price Today

XRP has rallied impressively, surging 12.3% in the past 24 hours and currently trading at $1.02. The token’s daily low and high were $0.94 and $1.256, respectively, with a substantial 24-hour trading volume reaching $24.05 billion. The price jump today has ranked it as the sixth-largest cryptocurrency by market cap, holding a 2.3% market dominance.

This surge in XRP value comes as the U.S. embraces a more crypto-friendly stance, with plans to support American-origin cryptocurrencies. Additionally, Ripple whales are actively buying after a strong breakout amid a favorable outlook.

Meme Crypto Prices Today

Dogecoin (DOGE) is down by 6.95% and trading at $0.351 with a 24-hour range of $0.341 to $0.389. DOGE has surged 54% over the past week and has gained an impressive 164% over the past month, making it the seventh-largest cryptocurrency by market cap. This surge is reflective of increased investor interest, with meme coins seeing a resurgence in popularity.

Similarly, Shiba Inu (SHIB) has declined by 5.17% and is currently trading at $0.00002408. Over the past week, SHIB is up by 7%. SHIB’s performance over the last quarter, with an 82.61% increase, signals renewed optimism around this popular token, particularly as interest in meme coins remains high.

Other meme coins have also recorded loss over the past 24 hours. Pepe Coin, WIF and BONK are each down between 3-6%, while SLERF token stands out with a significant 42% increase. These price movements underline the broad interest across meme coins, as they continue to capture the attention of the crypto market.

Top Cryptocurrency Gainers Prices Today

Mantra Price Today

Mantra (OM) token has seen a 35% increase in the past 24 hours, now trading at $2.224. The coin’s 24-hour trading range was between $1.660 and $2.723, showing significant volatility. The continued rise suggests growing demand for Mantra’s platform and services.

Sandbox Price Today

Sandbox (SAND) witnessed a 23% surge in the last 24 hours. The coin is currently trading at $0.3606, with a 24-hour low of $0.2957 and a high of $0.3984. The trading volume saw a 450% jump in the last 24 hours.

Stellar Price Today

Stellar (XLM) is trading at $0.19, reflecting a massive gain with a 24-hour low of $0.133 and a high of $0.2010. The 27% change indicates some volatility, but the coin remained steady.

Top Cryptocurrency Losers Prices Today

Peanut the Squirrel

Peanut the Squirrel (PNUT) has dropped by 15% in the last 24 hours, currently trading at $1.59. Its 24-hour low and high were $1.63 and $1.93, indicating some selling pressure over the past day.

Neiro (First Neiro on Ethereum)

Neiro (NEIRO), the first Neiro coin on Ethereum, is trading at $0.002, down by 2.5% in the last 24 hours. The coin’s range for the day has been between $0.002 and $0.0024.

Dogecoin (DOGE)

Dogecoin (DOGE) has seen a 6% decrease in the last 24 hours, trading at $0.3541. The coin’s 24-hour range is $0.3417 to $0.3899, showing volatility compared to some other assets in the market.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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