“Worldcoin” to Launch “World Chain” – Designed for Humanity, Set to Go Live This Summer
The cryptocurrency project “Worldcoin,” founded by Sam Altman of OpenAI in 2020, has garnered global attention and sparked debates since its launch. Recently, the Worldcoin team announced the upcoming release of a brand new blockchain called “World Chain,” which is expected to go live this summer.
World Chain will be developed using the “Superchain” technology from the second-layer provider Optimism. This means that World Chain will be built on top of the Ethereum blockchain and will enable transactions using Ether (ETH). The original Worldcoin (WLD) token can also be used to pay for transaction fees (Gas Fee).
According to a post by Worldcoin on X, World Chain is a new blockchain designed for humanity and will be open to everyone.
Worldcoin’s official blog states that currently, there are 16 million people from 160 countries who have created World IDs and wallets. They have already executed 75 million transactions using them, and 5 million people have used silver orbs to verify their World IDs through iris recognition. Tiago Sada, an advisor to the Worldcoin Foundation, also mentioned that Worldcoin users account for an average of 44% of Optimism’s activity, sometimes even exceeding 90%. There are over 2 million active users using Worldcoin’s technology daily.
The decision to establish a new blockchain, World Chain, is aimed at improving user experience and the overall usability of blockchain technology. This will allow a large number of new users to join in the future, while existing users can enjoy faster, cheaper, and more reliable transactions. The first step is to build a dedicated network.
For developers, World Chain will create an ecosystem composed of decentralized financial and identity applications, providing a place to reach users on a large scale. With over 16 million users from 160 countries/regions, who can explore and use chain-based applications through compatible wallets, the future development of the ecosystem will focus more on practicality in everyday life.
Furthermore, most blockchains have invested significant efforts to reduce transaction fees (Gas Fee) in order to make the network more user-friendly. However, once transaction fees become cheaper, it is more likely that more bots will appear on the chain, leading to higher transaction fees and network congestion issues.
Tiago Sada emphasized that World Chain will be open to anyone, including bots, to conduct transactions on the chain. However, verified users will have priority block space and faster processing.
By migrating the Worldcoin project to a completely self-built network, Tiago Sada hopes to provide faster and cheaper transactions for existing users and attract more users to join the ecosystem.
References: worldcoin, decrypt, coindesk
Edited by: Gao Jingyuan