Worldcoin by Sam Altman Introduces World Chain, a Fresh Layer 2 Blockchain

Worldcoin Introduces World Chain

Worldcoin, the crypto project co-founded by OpenAI’s Sam Altman, has announced the launch of a new blockchain called World Chain. This blockchain is designed to bring all humans onchain, aiming to scale both Worldcoin and the broader Ethereum network to 1 billion people and beyond.

Transitioning from OP Mainnet to World Chain

Worldcoin’s user transactions currently represent a significant portion of the activity on Optimism, a Layer-2 scaling solution for Ethereum. Due to the scale and growth rate of the community, the team has decided to transition to a dedicated network, providing meaningful gains in performance.

Priority to Verified Humans

Worldcoin will implement World ID on the new chain to prioritize transactions from verified humans over bots. This will help reduce network congestion and high fees, ensuring faster confirmation times for legitimate users.

Addressing Congestion and High Fees

The new chain will offer verified humans a gas allowance for casual transactions and priority blockspace over bots. This initiative aims to minimize initial friction for users and will be sponsored by the Worldcoin Foundation. Additionally, users will be able to pay fees using WLD, while ETH remains the native token.

Apps for Everyday Life

World Chain will focus on decentralized financial and identity apps that cater to everyday utility. The ecosystem will include features such as stablecoins, payments, rewards, lending, and swapping. The project aims to reach millions of real users globally with apps that offer real-world utility.

Community Ownership and Governance

World Chain will be permissionless and open source, with the community owning and governing it. Ethereum will secure the chain as a Layer-2, ensuring scalability alongside the Superchain ecosystem. World ID and WLD will remain neutral public goods that can be utilized on networks beyond World Chain.

Worldcoin’s Achievements and Market Performance

Since its launch in July 2023, Worldcoin has attracted 10 million users in 160 countries who have conducted 75 million transactions using the platform. The price of WLD currently stands at $4.95, experiencing fluctuations in the market over the past week and month.