Altcoins

Worldcoin Launches World Chain for 1 Billion Users

Worldcoin, co-founded by Sam Altman, announced the launch of World Chain, a blockchain aiming to onboard all humans onto the chain. The new network is designed to scale Worldcoin and Ethereum to accommodate over 1 billion users. The developer preview is expected soon, with the full launch slated for later this summer.

Worldcoin’s user transactions make up a significant portion of activity on Optimism, a Layer-2 scaling solution for Ethereum, often surpassing 80% during spikes. To address this growth, Worldcoin is migrating to a dedicated network to provide better scalability and performance.

To combat congested networks and high fees caused by bots, World Chain will prioritize transactions from verified humans, offering them some free gas for casual transactions and faster confirmation times. Ethereum will remain the native token, but users can pay fees using WLD. Developers will have the opportunity to reach millions of users with apps focused on real-world utility.

The World Chain ecosystem will focus on decentralized financial and identity apps, leveraging World ID’s sybil resistance. Ethereum will secure the chain as a Layer-2 solution, enhancing scalability. World ID and WLD will remain open-source public goods, accessible beyond the World Chain network.

Since its launch in July 2023, Worldcoin has attracted 10 million users across 160 countries, conducting 75 million transactions. WLD’s price currently stands at $4.95, down 0.8% in the past 24 hours and 46% in the past month from its all-time high of $11.74 on March 10, 2024.

Featured Image: Freepik

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