Sam Altman’s Worldcoin to Debut World Chain, a New Layer 2 Blockchain
Worldcoin, the crypto project co-founded by OpenAI’s Sam Altman, has today announced a new blockchain “designed to bring all humans onchain.”
The new World Chain is built to scale both Worldcoin and the broader Ethereum network to 1 billion people and beyond, said the press release shared with Cryptonews.
The team expects the developer preview of World Chain to come out “very soon” with the full launch to follow later this year.
According to the announcement, Worldcoin user transactions represent some 44% of the activity on Optimism, a Layer-2 scaling solution for Ethereum.
This, it said, makes Worldcoin the largest application on the network.
However, it typically surpasses 80% during spikes, and sometimes it exceeds the limits.
“Given the scale and growth rate of the community, it’s time to graduate to a dedicated network,” the Worldcoin team said.
Migrating to a dedicated network will provide “meaningful gains,” they added.
Introducing World Chain, a new blockchain designed for humans ⚪️ pic.twitter.com/qNb7S3vqut
— Worldcoin (@worldcoin) April 17, 2024
Speaking of bots, Worldcoin noted that some 80% of blockchain transactions could be automated. Importantly, many of these exist for valid use cases,
However, there are also unproductive bots, including yield farming bots, that cause congested networks and high fees.
Therefore, World ID is meant to help the new chain with this issue.
Everybody will be able to submit transactions on this open and permissionless network, the team said. However, verified humans’ transactions will be prioritized for faster confirmation times.
Maximum inclusivity, maximum privacy. pic.twitter.com/QyY8S4GcMx
— Worldcoin (@worldcoin) April 5, 2024
Therefore, the new chain seeks to address the issue of
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