Worldcoin launches zero-fee wallet, Sam Altman’s project

Worldcoin, Sam Altman’s crypto startup, has released a zero-fee cryptocurrency wallet for verified users.

1/ Introducing World App. Built by @tfh_technology, its simple yet powerful tools are designed to be accessible to everyone. Use it to prove personhood w/ World ID, claim Worldcoin where available & send digital money anywhere for free.https://t.co/S65MJnNv9w

— Worldcoin (@worldcoin) May 8, 2023

World App, a new wallet for iOS and Android, is built on Polygon and supports stablecoins USDC and DAI, as well as Ethereum (ETH), Worldcoin (WLD) and “wrapped” BTC (WBTC).

The wallet uses the World ID system to distinguish real people from bots. Users seeking zero-fee transfers must verify their identity by providing a phone number or biometric data.

According to the developers, World App does not reveal user information and uses zero-knowledge proofs for identity verification. The app also uses account abstraction to enable third-party gas payments.

Users without World ID can perform transactions in the app, but at a basic fee.

The project is already integrated with several crypto services, including infrastructure providers MoonPay and Ramp. Inside the wallet, there is an asset-conversion feature implemented via DEX Uniswap.

According to Worldcoin, over 1.6 million people have installed the app’s test version, of whom more than 500,000 use it each month. Daily, World App processes about 60,000 transactions and performs more than 25,000 identity verifications.

In March, the startup unveiled the World ID protocol and a development kit for decentralized biometric identity.

Earlier, Sam Altman proposed paying users for iris scans.