Worldcoin to debut Ethereum layer 2 “World Chain” this summer
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Worldcoin, the brainchild of OpenAI CEO Sam Altman, unveiled today its latest development: World Chain, an Ethereum layer 2 (L2) network powered by Optimism’s OP Stack. With this new blockchain, Worldcoin’s vision is to build an open and collaborative network “by humanity” and “for humanity.”
Introducing World Chain, a new blockchain designed for humans ⚪️ pic.twitter.com/qNb7S3vqut
— Worldcoin (@worldcoin) April 17, 2024
According to Worldcoin’s blog announcement, the new blockchain is designed to prioritize humans over bots, offering verified individuals priority blockspace and a gas allowance for everyday transactions.
World Chain aims to provide developers with access to millions of real users globally, focusing on practical applications in daily life, the team noted. The integration with the Worldcoin protocol is set to spur growth and utilize World ID’s Proof of Personhood to ensure security and scalability within the Ethereum ecosystem.
The network will be permissionless, and open-source, and is planned to be governed independently by the community. World Chain’s anticipated launch is later this summer.
Since its inception nine months ago, Worldcoin has been at the forefront of promoting Proof of Personhood and decentralized finance. With over 10 million people in 160 countries having created a World ID and compatible wallet, Worldcoin has facilitated 75 million transactions. The Worldcoin community’s rapid expansion necessitates advancements in blockchain technology, particularly in efficiency, user experience, and utility.
World Chain is poised to significantly enhance capacity, allowing for the continued growth of its user base and providing a more efficient transaction experience. The network’s design is a direct response to the challenges posed by automated transactions, which often congest networks and inflate fees. By utilizing World ID, users can anonymously prove their humanity, allowing for prioritized transactions and an allocation of free gas to reduce barriers to entry.
For developers, World Chain represents a new frontier to engage with on-chain users at scale, offering a suite of decentralized financial and identity applications that cater to everyday needs. This ecosystem will be underpinned by World ID’s sybil resistance and will revolve around Worldcoin, stablecoins, and various financial services.
In line with Worldcoin’s ethos, World Chain will be a community-driven project, emphasizing open-source development, permissionless access, and alignment with Ethereum’s values.
Worldcoin said it will continue to contribute to Ethereum’s network and collaborate with the broader Superchain ecosystem to advance shared goals in scaling, security, and interoperability.
Optimism also shared its excitement about the introduction of World Chain. Notably, Coinbase’s L2 network, Base, also leverages the OP Stack, highlighting the growing adoption of this innovative scaling solution.
🔴 The Optimism ecosystem continues to grow: @worldcoin announces World Chain will be built on the Superchain.
Another L2 choosing the OP Stack:
🧑🤝🧑 10M+ users joining the Superchain
📈 Revenue contribution to the @Optimism Collective
✨ Collaborative ecosystem development— Optimism (@Optimism) April 17, 2024
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Author: Vivian Nguyen
