WorldCoin says it will unveil a new blockchain ‘designed for humans’ known as World Chain.
The platform, to be launched by summer, will be deeply integrated with the WorldCoin protocol, utilizing World ID’s proof of personhood to foster a user-centric approach on the Ethereum network.
Introducing World Chain, a new blockchain designed for humans ⚪️ pic.twitter.com/qNb7S3vqut
— Worldcoin (@worldcoin) April 17, 2024
Already, more than 10 million people in 160 countries have created a World ID and a compatible wallet, which they’ve used to perform 75 million transactions. As of today, 5,009,992 people have also verified their World ID using an Orb.
The project has found a lot of popularity in Kenya with 25% of signups said to be originating from the East African nation, at some point in 2023.
🇰🇪REGULATION | Kenyans Amounted to 25% of All Signups by WorldCoin Globally, Says the Kenya Officer of Computer and CyberCrime
Kenya recorded 350,000 #WorldCoin subscriptions, the highest number of subscriptions out of thirty-four countries, new details show.… pic.twitter.com/7o5BbZOcfG
— BitKE (@BitcoinKE) August 30, 2023
However, authorities in the country suspended the project’s operations for violating Kenyan laws and regulations.
🇰🇪REGULATION | The Kenya Ministry of Interior and National Administration Suspends WorldCoin Activities Pending Risk Assesment
“The government has suspended forthwith activities of WorldCoin and any other entity that may be similarly engaging the people of Kenya until relevant… pic.twitter.com/ecePvfRWXL
— BitKE (@BitcoinKE) August 3, 2023
According to WorldCoin, World Chain will refine user interactions with blockchain technology by allocating priority block space and gas allowances specifically to verified human users.
“It will be open for everyone, and verified humans will get priority blockspace over bots as well as a gas allowance for casual transactions. Developers will be able to reach millions of these real users around the world, with apps focused on utility for everyday life,” the foundation said.
It is estimated that bots account for up to 80% of all blockchain activity, which contributes to network congestion and escalated fees. World Chain’s integration with World ID allows users to confirm their identities anonymously through zero-knowledge proofs, securing prioritized service and free gas allowance without sacrificing privacy.
Moreover, according to WorldCoin, the project has grown the layer 2 chain Optimism mainnet. WorldCoin user transactions currently represent about 44% of OP Mainnet’s activity, making it the largest application on the network. Often during spikes, this rises over 80%, and at times it flat out exceeds the limits.
“Given the scale and growth rate of the community, it’s time to graduate to a dedicated network.”
World Chain is built atop the Ethereum blockchain and will use ETH as its native token. The WorldCoin (WLD) token can be used to pay gas fees as well.
________________________________________
