Worldcoin Launches Gas-Free Crypto Wallet
- The so called “World App” crypto wallet will make use of the project’s “World ID” system to effectively distinguishes between humans and AI.
- While everyone will be able to use the new wallet, only verified “World ID” holders will enjoy gas-free transactions within the Worldcoin ecosystem.
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Worldcoin, a project aiming to differentiate between humans from AI, has taken a significant leap forward with the launch of its gas-free crypto wallet, Worldcoin said in a blog post on 8 May.
According to the announcement, the so called “World App” wallet is compatible with both Android and iOS, and is currently running on top of the Polygon network, granting users the ability to securely hold and transfer a range of cryptocurrencies including Wrapped Bitcoin (wBTC), Ether (ETH), USDC, DAI, and the upcoming Worldcoin (WDC). The new wallet also utilizes Worldcoin’s “World ID” system, which effectively distinguishes between humans and AI.
Users who wish to leverage the benefits of the wallet’s gas-free transfers must first register for a World ID by providing either their phone number or an iris scan. The project emphasized that it does not store users’ personal data but rather generates a zero-knowledge proof, verifying the authenticity of the user as human without compromising privacy. Even without a World ID, users can still access and utilize the app, albeit without the advantage of gas-free transactions. In such cases, the app incorporates account abstraction to enable third-party gas payments, ensuring seamless and efficient transactions for all users.
To enhance the overall user experience, Worldcoin has formed strategic partnerships with regulated crypto exchanges — including Moonpay and Ramp — which allow users to effortlessly onboard and offboard funds within the wallet. Additionally, the app features built-in integration with Uniswap, facilitating instant swapping of cryptocurrencies. By linking their phone numbers to the app, users can also send and receive crypto directly through their phone contacts.
The project claimed that World App enjoyed substantial success during its testing phase, amassing an impressive 1.5 million users and processing around 60,000 transactions daily. Following the completion of its beta phase in select locations, the World App is now available for download in over 80 countries, reflecting the project’s commitment to global accessibility. The app boasts a minimalist design, incorporating only the essential functionalities from both the Worldcoin and Ethereum ecosystems, ensuring a straightforward and hassle-free user experience.
- Popular Telegram bot Unibot, which is used to snipe trades on Uniswap, became a victim of a token approval exploit earlier today, when it was switching to a new router.
- After confirming the exploit, Unibot assured users that their keys and wallets were safe, and that the project will compensate all affected users.
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- The digital ID project said Orb Operators received USDC payments as part of the project’s transitional phase after launch, and now that it is nearing its end Worldcoin will be switching to WLD payments.
- Worldcoin warned Orb Operators to check if they can claim rewards in their region as WLD are not available in the United States and “certain other restricted territories”.
- MetaMask expanded its partnership with MoonPay to allow users in Nigeria to buy cryptocurrencies directly from its mobile wallet app and Portfolio dApp.
- MetaMask noted that the new crypto on-ramp feature will be expanded to other African countries in the coming month, including Kenya, Botswana, and South Africa.