Worldcoin, led by Sam Altman’s Tools for Humanity, has announced the launch of its own Ethereum Layer 2 blockchain, named World Chain.
Introducing World Chain, a new blockchain designed for humans ⚪️ pic.twitter.com/qNb7S3vqut
— Worldcoin (@worldcoin) April 17, 2024
This new development aims to boost efficiencies and enhance the onboarding process for new users, capitalizing on Worldcoin’s unique approach to verifying human users in a digital world increasingly dominated by AI.
Introduction of World Chain
World Chain is designed to operate atop the Ethereum network, providing a secure and efficient layer for transactions. This move to a Layer 2 solution is part of Worldcoin’s broader strategy to manage growing user numbers while maintaining low transaction costs and high throughput.
A significant feature of World Chain is the prioritization of human-verified users over bots.
Verified individuals will enjoy priority block space and access to some free gas, which reduces the transaction fees typically associated with Ethereum. This user-centric approach would reportedly incentivize human interaction and would aim to limit the influence of bots, ensuring a more authentic and secure network.
World Chain is built using the OP Stack, a reputable blockchain-building framework known for its scalability and efficiency. Coinbase also uses this technology for its Base network, enabling World Chain to implement “rollups.” These rollups bundle transactions and process them securely on Ethereum, ensuring permanence and reducing costs.
Transition from DApp to Independent Chain
Previously, Worldcoin operated merely as a decentralized application (DApp) composed of smart contracts on the Ethereum blockchain.
As per reports from CoinDesk, having its own Layer 2 chain would provide developers with greater control over their operations and potentially lower costs for their users.
The launch of World Chain offers significant advantages for developers, providing them with the tools to reach millions of users. The focus is on real-world utility, appealing to developers interested in building applications that require verified human interaction.
Worldcoin’s Unique Identity Verification
Worldcoin distinguishes itself with its innovative use of the “orb,” a device designed to scan users’ eyeballs to ensure each account is uniquely tied to a verified human.
This method of “proof of personhood” is reportedly crucial as AI technologies become more sophisticated and prevalent. The orb ensures that each user is distinct and real, which is vital for the integrity and security of the network.
Tools for Humanity has actively promoted Worldcoin through in-person orb scans at various global events and pop-up shops. Worldcoin has onboarded over 10 million users across more than 167 countries, making it a significant cryptocurrency player.