The price of Worldcoin (WLD) has soared over 7% following the launch of the World ID on the Solana (SOL) blockchain. In a blog post, Worldcoin revealed that the integration will allow Solana developers to build applications prioritizing real humans.
The Worldcoin – Solana – Wormhole Linkup
Wormhole, a decentralized interoperability protocol, assisted in completing the launch of World ID on Solana. The protocol facilitates data and asset transfers across different blockchain networks.
Meanwhile, Wormhole contributors received a grant from the Worldcoin Foundation in June to support the Worldcoin project. The initiative aimed to assign World IDs to humans willing to prove their “personhood” by undergoing an eyeball scan.
“With the integration of World ID and Wormhole Queries, developers can now easily build applications that prioritize real users across chains, improving trust in decentralized ecosystems,” says Wormhole Foundation co-founder Robinson Burkey.
The major goal of the latest integration is to enable Solana-based protocols to verify users’ World IDs, which are authenticated on Ethereum. Previously, only Ethereum developers had easy access to World ID’s uniqueness and humanness verification. However, the integration alters so Solana-based protocols can seamlessly authenticate people’s Ethereum-verified World IDs.
Implications for the Worldcoin Ecosystem
The integration has several benefits and implications for the Worldcoin ecosystem. First, it further strengthens Worldcoin’s vision of providing universal access to the digital economy.
By making identity verification more accessible and secure, more people worldwide can participate in the Worldcoin project.
Additionally, the integration is made forward-compatible to support upgrades and advancements in World ID’s future verification techniques. This may further boost confidence in the Worldcoin project.
Across the broader ecosystem, the integration helps prevent fraud and ensures fairness, which are critical components for the credibility and trustworthiness of digital economies
Regulatory Implications
The launch of Solana on World ID arrives despite the regulatory challenges facing the digital identity platform over privacy concerns. Countries including Spain and Portugal raised concerns over including children in the project’s iris scanning initiative, prompting regulatory action.
Recently, authorities in Singapore opened an investigation into seven people connected with unauthorized Worldcoin wallets and tokens. Before this investigation, the Singapore Police Force arrested five people for similar crimes.
Based on preliminary evidence, these suspects appear to have enticed people to open Worldcoin accounts. The charges noted that they gained control of these accounts for monetary compensation.
However, the latest Wormhole integration could help improve Worldcoin’s security, reducing current regulatory concerns about the project.
WLD Price Outlook
As of this writing, WLD, Worldcoin’s native asset, is trading at $1.50, surging by 7.05% in the past day. The trading volume increased by 139% in the past 24 hours to $212,978,169.
According to Market Data, WLD price is currently ranked the 91st-largest cryptocurrency by market cap, valued at $655,697,682. A cross above the 20-day EMA mark might shift the token toward the upside to $2.
Popular crypto analyst, Cryptobullmaker shared an optimistic sentiment on WLD, forecasting 100x price gains.
