Worldcoin (WLD) has migrated to its own Layer 2 network, World Chain, offering faster transactions and free transfers through the World App.
However, users must be cautious when transferring WLD externally, as network mismatches could result in lost funds.
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Achieving Free WLD Transfers and Up to Double Transaction Speeds
Worldcoin (WLD) has officially migrated to its proprietary Layer 2 network, "World Chain." This new blockchain, announced in April 2024, is built on Ethereum and is introduced as "a new blockchain designed for humanity."
Worldcoin offers a dedicated app called "World App" that allows users to manage both the WLD cryptocurrency and decentralized IDs (DID). With this new update, the app now displays an approval button prompting users to begin the migration to World Chain.
The migration process is simple and straightforward. By tapping the "Start Migration" button that appears upon launching the app, the transition is completed in just a few minutes. Once finished, all digital assets are automatically moved to the World Chain.
Verified users can then benefit from free transfers within the World App and experience up to double the transaction speed.
Be Cautious of Mistaken Transfers Across Different Networks
As of the time of writing, there has been no official announcement from Worldcoin regarding the migration to World Chain.
Therefore, users are advised to exercise caution when transferring WLD to external addresses after completing the migration, especially with regard to differences between networks.
Although several cryptocurrency exchanges support Worldcoin (WLD), including platforms like "Bybit" and "Bitget," a review of their deposit network selection screens shows only options for "ERC20" and "OP Mainnet" as of October 15, 2024. There is no available option for "World Chain."
Sending WLD to a different network may result in loss of funds due to transfer errors. As such, it is crucial for users to confirm that the receiving platform supports World Chain before making any transfers from the World App after the migration process.
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