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Worldcoin Launches ‘World Chain’ for Human ID.

Crypto | April 22, 2024

Image World Chain - Worldcoin Launches 'World Chain' for Human ID.

Image: World Chain users can optionally and anonymously verify their addresses as real humans using World ID to get priority blockspace and a gas allowance.

Worldcoin Unveils Layer-2 Blockchain 'World Chain' Focused on Human-Centric Verification

The latest update on Sam Altman's Worldcoin is that the Worldcoin Foundation has announced the launch of World Chain, a permissionless, open-source Ethereum layer 2 blockchain expected to debut in mid-2024. This new blockchain is deeply integrated with the Worldcoin protocol and aims to accelerate the adoption of "World ID."

Background

Worldcoin's system uses an "Orb" device to scan users' eyes and convert the biometric image into a secure number string. This process verifies an individual as a unique human and grants a World ID, which functions similarly to a digital passport, allowing users to authenticate various applications while confirming their personhood.

To date, 10 million people across 167 countries have registered their biometrics with Worldcoin, with their verified wallets conducting 75 million transactions. The technology is primarily aimed at distinguishing real human users from bots and AI, which are prevalent in other blockchain systems and often lead to network congestion and high transaction fees.

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Despite this growth, the market response has been mixed. Since late March 2024, the market cap of Worldcoin tokens (WLD) has declined by over a third, and the price has halved. Of course, regulatory challenges have emerged, with Worldcoin's Orbs being banned in several European countries over data privacy concerns.  World ID and the World App remain widely accessible, including in the United States.

World Chain Launches

World Chain is being touted as a blockchain that is specifically designed for human interactions which helps differentiate it from other blockchains that are ripe with bot activity and manipulation. The Worldcoin Foundation is actively encouraging developers to build on World Chain and is facilitating community engagement through grants and partnerships with the full launch of World Chain expected later this summer, with a developer preview expected shortly.

Users can verify their addresses on World Chain anonymously through zero-knowledge proofs which ensures privacy while benefiting from verified status giving them priority in block space and also a gas allowance for transactions.

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World Chain will be open source and permissionless (with plans for eventual community governance) and will function as a Layer 2 blockchain under Ethereum, ensuring enhanced scalability and security through alignment with the Superchain ecosystem.  Developers will be able to create real-world applications that are beneficial for every day life by connecting millions of verified users globally.

Outlook

By focusing on real users and keeping the bots at bay, World Chain aims to create a more trustworthy and inclusive blockchain environment, however its success relies on the future of digital innovation, user privacy, and regulatory compliance.  Solving for this balance will potentially set a new standard for blockchain solutions globally.


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