Worldcoin Announces New Layer-2 Blockchain, "World Chain"

Unveiling "World Chain" – Worldcoin's pioneering Layer-2 blockchain crafted for humans, set to revolutionize user interactions with blockchain technology.

Aimed at delivering a seamless, efficient, and practical experience, "World Chain" promises to redefine the way we think about blockchain usability and access.

Get ready to experience the future of decentralized applications and identity verification through a platform built for and by the community.

Launch of "World Chain" Scheduled for Summer 2024

On April 17, 2024, Worldcoin (WLD) announced plans to release its own Layer-2 blockchain, "World Chain," which will be based on Ethereum. Described as "a new blockchain designed for humans," "World Chain" is set to launch in the summer of 2024.

While it will be a Layer-2 blockchain on Ethereum, it will also be a part of the Superchain ecosystem on the Optimism mainnet.

Expansion of the Ecosystem with a Dedicated Chain

According to Worldcoin, currently, about 44% of Worldcoin's user transactions occur on the "Optimism Mainnet," with this percentage rising to over 80% during peak times.

Worldcoin has already facilitated 75 million transactions by over 10 million people in 160 countries who have created wallets compatible with "World ID." As of April 17, 5,010,617 people have authenticated their World ID using the biometric device "Orb."

To continue this expansion pace, significant leaps in blockchain technology in terms of efficiency, user experience, and practicality are necessary.

The establishment of this proprietary chain is in response to the size and growth rate of the community, signaling the appropriate time to transition to a dedicated network.

"World Chain" is designed with a focus on increasing capacity, allowing for faster, cheaper, and more reliable transactions as more people continue to join.

Key Features of World Chain

A New Blockchain For Humans

"World Chain" is an open-source, permissionless Layer-2 blockchain, ultimately aimed to be independently managed by the community. Developers will be able to reach millions of users worldwide with applications focused on practical everyday uses.

Integration with the Worldcoin Protocol

"World Chain" will integrate deeply with the Worldcoin protocol to utilize "World ID" for personal verification. Humans authenticated with the biometric scanner "Orb" will have priority in acquiring block space and receive allowances for gas fees, over bots, which currently pose a significant problem in the blockchain industry, where it's estimated that 80% of transactions are automated.

Address Authentication Using World ID

Users on "World Chain" will be able to authenticate their addresses using "World ID." This optional feature ensures privacy through zero-knowledge proofs.

Authenticated addresses benefit from priority block space and gas fee allocations, with transactions potentially being processed faster for verified users. Moreover, fees can be paid not only in ETH but also using WLD.

A Focus on Everyday Practicality in the Ecosystem

"World Chain" will function as a platform allowing developers to reach on-chain users worldwide. From launch day, over 10 million people in 160 countries will be able to use apps on "World Chain."

Unlike trying to cover all possible blockchain use cases, "World Chain" will focus on decentralized finance (DeFi) and ID applications for everyday practicality.

This focus is enabled uniquely by the sybil resistance of "World ID," centering on uses like stablecoins, payments, rewards, trading, lending, and exchanges.