Worldcoin, the crypto project co-created by OpenAI’s Sam Altman, has announced the launch of its self-custodial mobile app, called the World App. The app is designed to help users manage their World ID, a tool for proving personhood online, along with various cryptocurrencies, including Bitcoin, Ethereum, DAI, USDC, and Worldcoin’s upcoming token.
Developed by Tools For Humanity, Worldcoin’s lead software contributor, the World App has already garnered 1.5 million users during testing and logs around 60,000 transactions daily. The app enables users to deposit and withdraw funds using bank accounts or local payment tools and allows them to send money to phone contacts or crypto addresses.
The World App is designed with a minimalist interface, offering only the essential functionalities of the Worldcoin and Ethereum ecosystems. It also aims to maximize inclusivity by offering “gas-free transactions” that cover gas fees. Available on both iOS and Android, the app is around 18MB in size, localized to multiple languages, and can be supported by phones over 10 years old.
The World App is powered by several crypto firms, projects, and tools, including Uniswap for exchange tokens, ENS usernames, Ramp and MoonPay for on and off-ramps. The beta version ran on Polygon, but the full version will be based on an Ethereum rollup, per the announcement.
According to Tiago Sada, Head of Product, Engineering, and Design at Tools For Humanity, the World App has the potential to introduce fees in the form of a few basis points for each transaction down the line. The company’s goal is to maximize inclusivity and provide users with a simple yet powerful tool for managing their digital identity and cryptocurrency holdings.
Worldcoin is valued at $3 billion after reportedly raising $100 million from Khosla Ventures and a16z in March 2022. The company is now seeking another round of funding at the same valuation. The launch of the World App suggests that momentum is building towards the launch of Worldcoin’s token, which is expected to go live in the first half of this year.
Source: https://azcoinnews.com/worldcoin-launches-self-custodial-mobile-app-for-managing-cryptocurrency-and-digital-identity.html
