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Worldcoin Foundation Introduces World Chain
The Worldcoin Foundation recently announced the upcoming launch of a new blockchain network called World Chain on Ethereum’s proprietary Layer-2 infrastructure. This network, set to debut in the summer of this year, aims to provide a platform specifically designed for human users.
Open and Permissionless Network
World Chain will operate as an open and permissionless network with community governance at its core. Through this approach, users will have the freedom to submit transactions without requiring a verified World ID. Despite this, verified users will receive transaction prioritization, while their activities on the network will be anonymized using zero-knowledge proof technology.
Furthermore, Worldcoin plans to offer verified users a complimentary gas allowance in the form of WLD tokens every two weeks, allowing them to cover transaction fees. Alternatively, users can opt to pay for gas using Ethereum. Subsequently, the network aims to fund gas costs for casual users through fees collected from bots and power users.
Scalability and Future Goals
With Worldcoin contributing to a significant portion of network activity on the OP Mainnet, scalability has become a key focus for the project. In anticipation of serving a user base of up to 1 billion individuals, World Chain seeks to transition to a dedicated network to accommodate this growth effectively.
As outlined in a technical post released by Worldcoin, the network intends to raise the Layer-2 block gas limit substantially to address existing network costs and enhance performance for users. The project’s immediate objective is to boost the limit by a significant margin to support increased usage.
Combating AI Abuse and Ensuring Verification
Worldcoin emphasizes the importance of verification, particularly in light of advancements in artificial intelligence technology. The company’s “Proof of Personhood” concept plays a crucial role in distinguishing between human users and AI entities, helping to combat potential abuses within the system.
While AI-related concerns continue to resonate across various regions, Worldcoin’s approach, which incorporates biometric data for verification purposes, has sparked debates and regulatory inquiries in places like Spain, Portugal, and Buenos Aires. In response, Worldcoin has reiterated the legality of its operations and announced measures to enhance transparency and data management, including the open-sourcing of select project components.
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