The transition to Layer 2 marks a pivotal step in Worldcoin’s strategy to sustain high throughput and minimal transaction fees amid its expanding user base.
Under the leadership of Sam Altman’s Tools for Humanity, Worldcoin has introduced its proprietary Ethereum Layer 2 blockchain, christened World Chain.
Introduction of World Chain
World Chain operates atop the Ethereum network, furnishing a secure and streamlined layer for transactions. This shift to a Layer 2 solution aligns with Worldcoin’s overarching goal of accommodating its growing user base while upholding economical transactions and swift processing.
A notable feature of World Chain entails the prioritization of human-verified users over automated bots.
Verified individuals are afforded precedence in block space allocation and are granted access to complimentary gas, thereby mitigating Ethereum’s conventional transaction fees. This user-centric ethos aims to incentivize genuine human interaction while curbing the influence of bots, fostering a more authentic and resilient network.
World Chain is constructed utilizing the OP Stack, a renowned blockchain framework acclaimed for its scalability and efficacy. Leveraging technology akin to Coinbase’s Base network, World Chain implements “rollups,” which amalgamate transactions and execute them securely on Ethereum, ensuring durability and cost efficiency.
Transition from DApp to Autonomous Chain
Previously, Worldcoin functioned solely as a decentralized application (DApp) comprising smart contracts on the Ethereum blockchain.
According to reports from CoinDesk, the inception of its independent Layer 2 chain affords developers greater autonomy over their operations and potentially reduces expenses for their clientele.
The advent of World Chain presents a myriad of advantages for developers, furnishing them with the requisite tools to engage millions of users. The emphasis lies on tangible utility, appealing to developers vested in crafting applications necessitating authenticated human interaction.
Worldcoin’s Distinctive Identity Verification
Worldcoin distinguishes itself through the pioneering utilization of the “orb,” a device engineered to scan users’ retinas, thereby ensuring each account is uniquely associated with a verified human.
This novel development aims to optimize efficiencies and streamline the onboarding process for new users, capitalizing on Worldcoin’s distinctive approach to verifying human users amidst an increasingly AI-dominated digital landscape.
This method of “proof of personhood” assumes paramount importance as AI technologies burgeon in sophistication and prevalence. The orb guarantees the distinctiveness and authenticity of each user, thereby safeguarding the integrity and security of the network.
Tools for Humanity has actively championed Worldcoin through in-person orb scans at various global events and pop-up venues. Worldcoin has successfully onboarded over 10 million users spanning more than 167 countries, solidifying its stature as a prominent player in the cryptocurrency realm.
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