Six months after its launch, Worldcoin's World App reaches one million monthly users.

Six months after its launch, Worldcoin's World App reaches one million monthly users.

Over a quarter of a million people have downloaded Worldcoin's cryptocurrency wallet app, the World App, in just six weeks since its release.

One of the most well-known hot wallets worldwide, World App has over 4 million downloads in just six months. Worldcoin (@worldcoin) November 1, 2023 https://t . co/GTq5RmGUPl.

World App reported 500K weekly active users and 100,000+ daily active users in an official statement on November 1. In the past six months, the number of monthly users has increased by 50% to 1 million.

The development and management team behind World App, Tools for Technology (TFT), reported that over 22 million transactions have been made using the self-custodial wallet by active users.

More than a million people use World App each month, and there have been 22 million transactions and 4 million downloads. Pretty good for six months ???? pic . twitter . com/pagXxTfc8E — Tools for Humanity (@tfh_technology) November 1, 2023.

The main cause of this growth is the most recent update to the app, which reduced transaction costs and increased scalability for users.

Global Inspection Expands Worldcoin's Usage.

On July 24, 2023, Worldcoin formally launched following three years in the testnet and development phases.

Now, the Worldcoin project is operational. Pic by Worldcoin (@worldcoin) on July 24, 2023, at ..com/xZXG4w56Ps.

Sam Altman, CEO of OpenAI, co-founded the platform, which declared its intention to offer users a crypto token, a verified digital identity, and a feature-rich wallet app.

Major players in decentralized finance (DeFi) and cryptocurrency enthusiasts expressed disapproval of the digital ID platform's announcement.

Twitter's (now-X) former CEO, Jack Dorsey, minimized the platform's objectives, calling them fragile and unachievable.

July 24, 2023 — Jack (@jack) — cute https://t . co/VbsX3KcKds "Worldcoin is an attempt at global scale alignment...".

The concept behind Worldcoin was intended to be a scam structure, as Yan, the co-founder of Swan's cryptocurrency investment platform, repeated.

There was not a single encouraging response to this notice of scam. — Yan | swan . com (@skwp) July 24, 2023 https://t . co/IXIv2pstJE.

After overcoming early setbacks, the digital identity platform developed to offer traders and investors essential use cases.

The platform unveiled the World App, its first-ever cryptocurrency wallet, on May 8. Its purpose is to allow users to conveniently access and store WLD, the platform's native cryptocurrency, and other Ethereum assets by using their digital identity.

We announced on Monday that World App, the first Worldcoin wallet created by @tfh_technology ., will go live on May 13, 2023. — Worldcoin (@worldcoin).

In order to optimize inclusivity, the digital ID platform supported current smartphones (96.5% compatible with iPhones and 98.2% compatible with Androids) and allowed users to personalize their wallet app to their preferred languages.

By using a Layer 1 and Layer 2 gas fee structure, Worldcoin also reduced the cost of their app.

In order to optimize the Groth16 proof verifier in the gnark library for both L1 and L2 gas consumption, Worldcoin project contributors have created and made available for public use an optimization technique. 2023 September 20 — Worldcoin (@worldcoin) https://t . co/p1tUnqQJSf.

Despite the remarkable features of mobile wallets, governments and regulators from Germany, Argentina, France, the United Kingdom, and Argentina are continuing to closely monitor them.

Kenya is the most recent nation to suspend the digital identity platform due to growing apprehensions regarding data collection methods through orbs.

Using the orbs device, Worldcoin requires users to scan their retinas for verification before granting them a digital ID and awarding them with WLD tokens.

As part of its ongoing efforts to protect user data and work with regulatory bodies, the platform has stated repeatedly that it either deletes or securely encrypts user data.

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