World, formerly known as Worldcoin, has launched a new Ethereum Layer-2 network called World Chain, designed to enhance user experience for its verified human users. With this launch, the 15 million individuals who have completed iris scans for a World ID can utilize the new blockchain. World Chain aims to improve efficiency and offer new functionalities by prioritizing verified users over bots, providing them exclusive access to block space and free gas allowances. Additionally, the network will incorporate a range of applications like Optimism for interoperability, Uniswap for asset swaps, and Alchemy for development. Alongside World Chain, the company, founded by Sam Altman, revealed an upgraded biometric device called the Orb, which will be significantly more efficient than its predecessor. The identity verification process will now offer new options in partnership with popular social media platforms. Despite the announcement, the WLD token's market price saw a modest decline of 2.1%.

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