The Worldcoin Foundation is launching the Layer-2 blockchain, World Chain, which will integrate novel authentication methods and prioritize human users to address scalability issues and enhance network efficiency.
World Chain: A Layer 2 Blockchain Solution
The Worldcoin Foundation, in collaboration with Tools for Humanity, has announced the launch of World Chain, a Layer 2 blockchain solution that addresses scalability issues and enhances user onboarding speed. Spearheaded by OpenAI CEO Sam Altman, this initiative marks a significant advancement in Worldcoin's technology and continues the Layer 2 blockchain the company is already implementing.
The foundation has claimed that World Chain will cater to a wide audience, with preparations to support up to 1 billion individuals using an infrastructure built on Optimism’s OP stack.
Prioritizing Human Users
World Chain will introduce a human-first approach to blockchain technology, prioritizing human users over bots. Verified human users will enjoy priority block space and gas allowances, enhancing scalability and efficiency, particularly for everyday applications. This human-first design is set to redefine user interactions with blockchain technology.
World Chain's authentication process includes an innovative iris scan, creating a register of certified human users. This process secures the network and provides benefits such as zero-cost transactions and reduced operational costs on blockchains. By evenly distributing the load between bots and genuine users, World Chain optimizes transaction processes and ensures high-quality service for all users.
Combatting Bot Activity
A key feature of World Chain is its hierarchical block space allocation for genuine users, significantly reducing the influence of bots. With bots reportedly accounting for up to 80% of blockchain activity, this innovative approach aims to mitigate network congestion and lower fees. Integration with World ID enables users to confirm their identities anonymously through zero-knowledge proofs, ensuring prioritized service and gas allocation without compromising privacy.
Moreover, this mechanism, supported by initial funding from the Worldcoin Foundation, is anticipated to streamline transaction processes and equitably distribute the load between bots and genuine users.
Scaling Infrastructure
Worldcoin strategically deploys World Chain to scale infrastructure in response to growing user numbers. This Layer 2 solution aims to speed up transactions, reduce charges, and enhance network efficiency. With over 5 million sign-up users, World Chain is crucial for managing increased transaction volumes and maintaining high service quality as user encounters rise.
The developer preview of World Chain will be available soon, with a full launch scheduled for later this summer.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
