“Worldcoin Unveils World Chain, a Second Layer Network, Set to Launch Officially This Summer”

"Worldcoin Unveils World Chain, a Second Layer Network, Set to Launch Officially This Summer"

"Worldcoin Unveils World Chain, a Second Layer Network, Set to Launch Officially This Summer"

The cryptocurrency project Worldcoin, co-founded by Sam Altman, founder of OpenAI, announced on Wednesday (17th) the release of its Ethereum Layer 2 blockchain called “World Chain”. This chain will be deeply integrated with the Worldcoin protocol to accelerate its development and utilize the underlying identity protocol, World ID, for its “Proof of Personhood” solution.

Worldcoin stated that World Chain is expected to be officially launched this summer and will be open to everyone. “Verified humans will have priority access to block space over robots, as well as gas fee subsidies for temporary transactions.” According to the announcement, verified World App users will receive WLD token subsidies every two weeks. In addition to Ether (ETH) remaining the native token, WLD will also serve as the gas token on World Chain.

Built on top of the superchain

According to Blockworks, the number of users of World App, a wallet application under Worldcoin, recently exceeded 10 million. Tiago Sada, the Head of Product, Engineering, and Design at Tools For Humanity, the developer of Worldcoin, stated that about 43% of the activity on the Ethereum Layer 2 network, Optimism, is related to Worldcoin.

With the continuous growth in usage, the blockchain platform where Worldcoin currently resides has become somewhat crowded. The dedicated network, World Chain, is designed to significantly increase network capacity, allowing new users to join on a large scale and enjoy faster and cheaper transaction experiences.

World Chain will be built using Optimism’s OP Stack and will achieve scalability together with the “superchain” ecosystem. Other blockchains that adopt the OP Stack include Base, the Layer 2 network of Coinbase exchange, Mode, a modular DeFi Layer 2 network, and Zora, an NFT application chain.

Sada mentioned that the core team of Worldcoin will focus on developing an ecosystem composed of real-world applications, primarily revolving around payments, stablecoins, and identity recognition.