This week marked the launch of an upgraded state bridge by the iris-recognition based Worldcoin initiative. The newly added feature grants users the capability to construct and associate their individual state bridge with the global identity system, known as World ID, as well as with any blockchain compatible with the Ethereum Virtual Machine (EVM). Concurrently, the latest data reveals that Worldcoin has amassed approximately 2.35 million users and over 700,000 unique wallets currently store WLD, the proprietary cryptocurrency of Worldcoin.
Upgraded State Bridge, User Growth, and Token Distribution in Worldcoin
On October 11, 2023, Worldcoin’s development team implemented modifications to the state bridge, featuring an architecture that emphasizes gas efficiency and greater adaptability. According to the announcement, this newly fashioned architecture permits the establishment of state bridges on any EVM-compliant blockchain, thus allowing users to customize and manage their own state bridges. The primary objective is to streamline the integration of the user’s World ID with their selected blockchain and application.
The Worldcoin organization perceives this modification as an instrument to bolster applications that adhere to sybil-resistant and proof-of-personhood paradigms. Alongside the update to the state bridge, official records from Worldcoin show that as many as 2.35 million users are now registered. Additionally, data reveals that the number of unique wallets containing WLD surged from 591,633 on September 7, 2023, to 707,909 by October 13, 2023. Over a 77-day span, the volume of WLD transactions also escalated from 887,482 to 7,701,380.
Token Concentration and Market Trends
While the proliferation of WLD wallets is notable, the concentration of the token remains considerably high. Worldcoin manages the two largest WLD wallets, which cumulatively possess 70.8% of the entire token supply. Binance’s cold wallet is linked to the third largest address, holding 5.838% or more than 10 million WLD tokens. Market maker Wintermute maintains the fourth largest wallet, whereas the fifth is held by the South Korean cryptocurrency exchange, Bithumb.
Collectively, the top ten wallets are responsible for 86.86% of the full supply, and the 100 largest wallets account for 92.75% of all WLD in circulation. Pertaining to market shifts, WLD has risen by 46.2% against the U.S. dollar in the last 30 days, although it declined by 18.4% over the preceding fortnight. As of October 13, WLD is trading at $1.47, which is 55% beneath its peak value of $3.30 but 51% above its lowest recorded price of $0.973. Currently, WLD holds a market capitalization of $197 million and is ranked 148th among over 10,000 existing crypto assets.
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Frequently Asked Questions (FAQs) about Worldcoin State Bridge Update
What is the key feature introduced by Worldcoin in the latest update?
The most significant feature introduced in the latest update is the advanced state bridge. This architecture is designed for enhanced gas efficiency and broader compatibility, allowing users to establish their own state bridges with any Ethereum Virtual Machine (EVM)-compatible blockchain.
How many users has Worldcoin registered as of the latest data?
As of the most recent data, Worldcoin has registered approximately 2.35 million users. Furthermore, over 700,000 unique wallets are holding the native cryptocurrency WLD.
What is the primary objective behind Worldcoin’s state bridge modification?
The main aim of the state bridge modification is to facilitate the integration of World ID, Worldcoin’s global identity system, with a user’s chosen blockchain and application. The new structure allows users to set up and control their own state bridge.
How has the number of unique WLD wallets changed recently?
Between September 7, 2023, and October 13, 2023, the number of unique wallets holding WLD increased from 591,633 to 707,909. During a 77-day period, WLD transactions also increased significantly, from 887,482 to 7,701,380.
How is the supply of WLD tokens distributed?
The distribution of WLD tokens is highly concentrated. The two largest WLD wallets, both managed by Worldcoin, together hold 70.8% of the entire token supply. The top ten wallets account for 86.86%, and the top 100 wallets hold 92.75% of all WLD in circulation.
What are the recent market trends for WLD?
In the past 30 days, the value of WLD has increased by 46.2% against the U.S. dollar. However, it has also experienced a decline of 18.4% in the last two weeks. As of October 13, 2023, the market capitalization of WLD is $197 million, and it ranks 148th among over 10,000 existing crypto assets.
What is the current price of WLD compared to its highest and lowest values?
As of October 13, 2023, WLD is priced at $1.47 per coin. This is 55% below its highest recorded value of $3.30 and 51% above its lowest recorded value of $0.973.
More about Worldcoin State Bridge Update
- Worldcoin Official Announcement on State Bridge Update
- Ethereum Virtual Machine (EVM) Explained
- Sybil-Resistance and Proof-of-Personhood
- Cryptocurrency Wallet Distribution Analysis
- Latest Market Trends in Cryptocurrency
- Worldcoin Market Capitalization and Ranking
- Overview of Token Concentration in Cryptocurrencies