Worldcoin Launches World Chain, a New Human-Centric Blockchain

Key Insights:

  • World Chain will use Ethereum’s blockchain technology and ETH for transactions.
  • Worldcoin users currently represent a significant portion of activity on the Optimism network.
  • Over 10 million people globally use World ID to confirm their identities through Worldcoin.

Worldcoin Foundation, stewarding the proof-of-personhood initiative, announced the upcoming launch of World Chain. Developed with Optimism’s superchain technology, this new blockchain stands atop the robust Ethereum platform. ETH will serve as the native token while also accommodating Worldcoin (WLD) for gas fee payments.

Tiago Sada, head of product, engineering, and design at Tools for Humanity, emphasized the need for World Chain. He highlighted that the burgeoning Worldcoin user base often dominates network activity on the existing Optimism mainnet. Sada noted, “At peak times, Worldcoin transactions constitute over 90% of Optimism’s traffic.”

Consequently, a bespoke network has become imperative. Sada explained that the same team behind Worldcoin’s Optimism integration would spearhead this venture. The dedicated World Chain aims to handle the extensive user traffic more effectively, improving overall blockchain functionality.

Moreover, the introduction of World Chain promises several user-centric benefits. It will prioritize verified humans in block space allocation, a stark contrast to typical networks that do not distinguish between human and bot activities. This prioritization ensures more reliable transaction processing for real users.

Additionally, the Worldcoin Foundation recently integrated its technology with Microsoft’s Minecraft. This move aligns with its strategy to expand user interaction within popular digital environments. In March, it further demonstrated its commitment to transparency by making the orb technology, crucial for user verification, open source.

However, despite these innovations, Worldcoin has faced scrutiny. Privacy concerns triggered investigations in multiple countries, including Kenya, questioning the integrity of its orb technology. In response, Sada assured, “Worldcoin and World ID maintain rigorous privacy standards, arguably among the highest in the industry.” He reaffirmed the anonymity and self-custody of user data, contradicting widespread misconceptions about their technology’s privacy.

World Chain will be accessible globally, transcending regional limitations currently affecting Worldcoin. According to Sada, “World Chain functions like any other layer-2 solution but with added benefits for verified human users.”

The Worldcoin Foundation remains committed to its mission of ensuring that each user is a verifiable human, not a bot, thereby safeguarding the integrity and usability of its network. With over 10 million users worldwide, the impact of World Chain could be significant, marking a new chapter in the evolution of blockchain technology dedicated to personal and transactional authenticity.

While Worldcoin has been down 23% for the last seven days, the WLD token has been trading at $4.82 per coin, down by 4.4% in the past 24 hours.

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