The iris-scanning Worldcoin project added a state bridge to its architecture this week. With the help of this functionality, users can build and connect their own bridges to the World ID global identity and any Ethereum Virtual Machine (EVM) compliant blockchain. More information reveals that Worldcoin has roughly 2.35 million registered users and that the WLD, the native cryptocurrency of the platform, is held in more than 700,000 different wallets.
The State Bridge, Supply Concentration, and Growth of Worldcoin
The state bridges were modified by Worldcoin developers on October 11, 2023, adding a design that prioritized gas efficiency and wider compatibility. According to the statement, the new architecture enables the creation of bridges for any EVM-compatible chain, enabling users to configure and manage their state bridge. The objective is to make it easier for users to integrate World ID with the blockchain and application of their choice.
Worldcoin sees this modification as a way to facilitate applications built on the ideas of sybil-resistant, proof-of-personhood. In addition to the state bridges upgrade, 2.35 million users have enrolled, according to Worldcoin's official stats. Additionally, on September 7, 2023, WLD was held in about 591,633 different wallets. This number increased to 707,909 on October 13, 2023. WLD transactions also increased over a 77-day period, going from 887,482 to 7,701,38.
WLD wallets have increased, but the token's distribution is still disproportionately concentrated in a small number of hands. Together, the two biggest Worldcoin-managed WLD addresses own 70.8% of the total supply. With 5.838% or more over 10 million WLD, the third largest address is linked to Binance's cold wallet. The fourth-largest address is held by market maker Wintermute, and the fifth is held by the South Korean cryptocurrency exchange Bithumb.
86.86% of the total supply is held by the top ten wallets, while 92.75% of the total amount of WLD in circulation is held by the top 100 wallets. In terms of market movements, WLD rose by 46.2% in the last 30 days when compared to the US dollar, but it also fell by 18.4% in the most recent two weeks. At $1.47 per coin as of October 13, WLD is 55% lower than its greatest value of $3.30 but 51% higher than its all-time low of $0.973. WLD is currently ranked 148 out of more than 10,000 crypto assets and has a market worth of $197 million.
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