Worldcoin to launch a brand new Ethereum L2 community dubbed “World Chain”

• Worldcoin will unveil the brand new blockchain “World Chain” in the summertime.
• World Chain is an Ethereum L2 chain that can combine with WLD and World ID.

Worldcoin is ready to launch a brand new blockchain dubbed “World Chain”, in accordance with an announcement on Wednesday, April 17.

The value of WLD, the native Worldcoin token rose barely after the information. Whereas its up 3% prior to now 24 hours at $4.90 on the time of writing, its largely in destructive territory after dumping from highs of $6.57 on April 12.

World Chain – what do we all know?

World Chain will probably be an Ethereum Layer 2 and is predicted to go stay in the summertime, Worldcoin, the venture co-founded by OpenAI CEO Sam Altman, stated within the weblog publish.

Whereas the brand new blockchain will combine with the Worldcoin protocol and World ID’s Proof of Personhood, the purpose is to in the end have it run independently as a community-driven venture.

“World Chain will probably be an ecosystem of decentralized monetary and id apps targeted on utility for on a regular basis life,” the Worldcoin workforce famous.

Introducing World Chain, a brand new blockchain designed for people ⚪️ pic.twitter.com/qNb7S3vqut

— Worldcoin (@worldcoin) April 17, 2024

In keeping with the main points in at present’s announcement, World Chain is “engineered for scalability with the Superchain ecosystem.” Nevertheless, the brand new L2 will prioritize verified people over bots in terms of entry to blockspace.

The platform may also look to maintain bots off the community by providing fuel allowances to verified people. This is not going to be accessible to automated programs reminiscent of bots deployed for airdrop farming that usually congest networks.

ETH would be the native token, though customers may also be capable of pay charges utilizing Worldcoin’s token WLD.

Worldcoin, which launched in July 2023, and provided WLD tokens to individuals who verified their id by scanning irises through an orb. The venture has seen over 10 million folks create a World ID and use the World App, the venture’s native pockets.

Greater than 5 million folks have used the orb to confirm their World ID. Nevertheless, the venture has confronted elevated regulatory scrutiny since its launch, the most recent instances being in Spain and Portugal.