The digital identity initiative that is being supported by Sam Altman is going to be rebranded as World Network, or the World Network for short.

In addition to the rebranding, the project announced that the World Chain protocol has been released on the mainnet. For the purpose of this project, the Ethereum-secured Layer 2 blockchain network known as World Chain is linked. In order to facilitate the launch of the blockchain, Optimism, Alchemy, Uniswap, Safe, Dune, and Etherscan will provide assistance.

"As the scale of the project grows along with the importance of World ID’s proof of human protocol, the name 'Worldcoin' no longer encapsulates the mission of the project, to accelerate every human," World said in a press statement that was sent to The Block. "With its three key pillars (World Chain, World ID and Worldcoin), World is truly a network of real, verified humans built to enable an optimistic future in which humans will continue to be at the center of AI progress."

Worldcoin, which was introduced in July 2023, provides a digital identification solution known as World ID. This solution assists in verifying the humanity and identity of users both locally and on the blockchain. Those individuals who provide their biometric data, such as an iris scan via a metal orb, in order to demonstrate their "personhood" are granted access to the online passport as well as the cryptocurrency known as WLD. Across 160 countries, World Network claims that it has more than 10 million users who have signed up.

It is Altman, who is also the Chief Executive Officer of OpenAI, who is the co-founder of Tools For Humanity, the project that is the primary developer behind it. In light of the fact that artificial intelligence chatbots and assistants are becoming more prevalent on the internet, the World Network project aims to aid in distinguishing between human actors and automated actors.

"World Chain is a humans-only community with more useful apps, savings on gas fees and eventually, the ability to share your voice in the direction of World Chain itself," according to the team's submission.

OP Stack is used in the construction of the blockchain. According to World Network, the OP Mainnet application is the most important one on the network since it accounts for around 44 percent of the total activity on the network.

According to The Block's pricing page, the current value of WLD is $2.13, which is a decrease of 3.68% over the course of the last twenty-four hours. The market capitalization of WLD is now equal to $1.1 billion.