Worldcoin Unveils Plan to Launch Own Layer-2 Blockchain
The Sam Altman-led project Worldcoin has revealed its ambitious initiative to launch its own layer-2 blockchain, World Chain.
According to a Wednesday blog by the firm, the project aims to bolster the integration of Worldcoins protocol while leveraging the capabilities of Ethereums Optimisms OP Stack for enhanced scalability and efficiency.
Notably, the announcement comes in the wake of Worldcoins exponential growth, with over 10 million individuals across 160 nations already possessing a World ID and compatible wallet, facilitating a staggering 75 million transactions. The firm stated that the surge in users necessitated the development of a robust blockchain solution to sustain and amplify this momentum.
According to Worldcoins development team, users of World Chain, or the so-called the blockchain of humans, can expect a significant enhancement in throughput. This will enable seamless onboarding of new participants and expedited transactions for existing users.
Moreover, the platforms design ensures all users have access to the public network, with priority granted to those with World ID verification. To further lower entry barriers, verified users will receive some free gas, easing the cost burden of blockchain transactions.
As per the blog, the native token of World Chain will remain Ethereum (ETH), but users can pay fees using Worldcoins native token WLD. According to the Worldcoin team, this strategic move aims to enhance accessibility and streamline transactions within the ecosystem.
It is also important to note that in alignment with Worldcoins ethos of inclusivity and community governance, World Chain will be permissionless, open source, and intended to ultimately be independently governed by the community. This decentralized model underscores Worldcoins commitment to fostering a truly inclusive and democratic blockchain ecosystem.
That said, the introduction of World Chain heralds a new era of blockchain technology that prioritizes human-centric solutions and scalability. Developers will have the opportunity to tap into World Chains expansive user base, creating applications tailored to meet the diverse needs of individuals worldwide.
Meanwhile, the launch of World Chain is slated for the third quarter of 2024. Notably, Worldcoin has recently introduced enhanced privacy features, allowing users to revoke World ID verification, thereby bolstering personal data protection.
Read more: https://zycrypto.com/worldcoin-unveils-plan-to-launch-own-layer-2-blockchain/
Text source: ZyCrypto
