Worldcoin Ecosystem to Expand with World Chain L2 Network by Mid-2024

Worldcoin is set to launch its own blockchain known as World Chain.
World Chain is slated for release this summer as a layer-2 network on Ethereum.
World Chain’s open and permissionless nature will allow anyone, including bots, to submit transactions.

In a groundbreaking move, Worldcoin, the retina-scanning crypto startup founded by Sam Altman, is set to launch its own blockchain known as World Chain. This development aims to revolutionize digital identity verification by providing special benefits to users who undergo retina scans in exchange for a unique “World ID” digital passport.

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World Chain: Concept and Enhanced Features for Verified Humans

The World Chain, slated for release this summer as a layer-2 network on Ethereum, will prioritize “verified humans” over bots, offering them priority block space and some free gas for transactions. This strategic shift from being a decentralized application on Ethereum to an independent blockchain could grant developers more control while potentially reducing costs for users.

“Verified humans will enjoy priority blockspace over bots and some free gas,” Tools For Humanity, the team behind Worldcoin, stated in an announcement. “For developers, it will be a way to reach millions of users with apps focused on real-world utility.”

World Chain will be built on the OP Stack, a blockchain-building framework utilized by major players like Coinbase. By leveraging layer-2 “rollups,” World Chain can bundle transactions more efficiently, resulting in cheaper fees for users compared to transacting directly on Ethereum.

According to Tiago Sada, head of product, engineering, and design at Tools For Humanity, World Chain’s open and permissionless nature will allow anyone, including bots, to submit transactions. However, transactions from verified humans will receive priority block space, ensuring faster processing times.

Challenges, Prospects, and Impact

The Worldcoin project gained recognition through its unique “orb,” a device for scanning eyeballs to verify human users. This emphasis on “proof of personhood” aligns with Worldcoin’s mission to combat bot activity in an era dominated by AI applications.

Despite initial criticisms and privacy concerns, Worldcoin has continued to evolve, integrating new encryption technologies and expanding its user base to over 10 million users across 167 countries. The upcoming World Chain represents a significant step forward in the project’s journey, aiming to provide faster, cheaper, and more secure transactions for its community.

Worldcoin’s progress has not gone unnoticed, with Ethereum founder Vitalik Buterin acknowledging the project’s efforts in addressing privacy critiques and designing a data-minimal system. With World Chain on the horizon, Worldcoin is poised to further cement its position as a pioneer in blockchain-based digital identity solutions.

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