As part of the partnership, World ID and the World App will transition to Optimism OP Mainnet. The post Worldcoin’s Gas-Free Wallet to Migrate from Polygon to Optimism appeared first on Tokenist.
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
World App, a crypto wallet launched by Worldcoin earlier this week, is moving from the Polygon ecosystem to Optimism, according to a blog post published on Thursday. The move comes as the Worldcoin Foundation and early protocol contributors at Tools for Humanity (TFH) announce a partnership with Optimism Collective.
Worldcoin Foundation Strikes a Partnership with Optmisim Collective
Human ID project Worldcoin is set to transition its newly-launched wallet World App from Polygon to Optimism’s ecosystem. The move is part of a newborn partnership between the Worldcoin Foundation and Optimsim Collective. In addition, the World ID protocol will also migrate to Optimism’s OP mainnet.
“With more than 1.6 million sign-ups in beta and 500,000+ monthly active World App users, the deployments on OP Mainnet will expand access and help Worldcoin reach a values-aligned ecosystem of developers and users.”
– Worldcoin announced in the blog post.
Like Polygon and Arbitrum, Optimism is a Layer 2 (L2) scaling solution built on the Ethereum mainnet (L1). L2 scaling projects were developed to improve the network’s scalability and reduce transaction fees by processing transactions off-chain and settling them on the Ethereum mainnet.
Optimism uses a scaling method known as “optimistic rollups,” allowing for faster and cheaper transactions as they are processed outside the main blockchain layer. Built by Ethereum developers, Optimism has gained significant attention in the crypto community in recent years.
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What is the World App?
World App’s migration to Optimism comes just a few days after Worldcoin announced the app’s launch. World App is a gas-free crypto wallet that verifies human identity using zero-knowledge proofs, access finance, and spurs crypto adoption.
The app uses Worldcoin’s “World ID” system to distinguish between humans and bots. Users must register for a World ID by providing an iris scan or a mobile phone number to use it. Because it utilizes zero-knowledge proofs, World App does not store user data, the project’s developers claim.
Apart from its ID features, World App also lets users hold, buy, and sell a selection of cryptocurrencies, including USDC, DAI, ETH, and Wrapped Bitcoin (WBTC). Worldcoin is also expected to roll out its native token, whose launch was initially planned for the first half of 2023.
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The post Worldcoin’s Gas-Free Wallet to Migrate from Polygon to Optimism appeared first on Tokenist.