Worldcoin, the innovative identity coin venture spearheaded by OpenAI CEO Sam Altman, is making strides in the blockchain realm with the introduction of its new network, World Chain. Announced on April 17, World Chain is tailored to champion human users and promises to elevate the utility and efficiency of Web3 applications significantly.
Tiago Sada, Worldcoin’s head of operations, emphasized that unlike typical blockchains where bots often outpace and outbid humans for block space, World Chain is designed to prioritize human participants. This approach aims to reduce the congestion commonly caused by bots, ensuring that transactions from verified human users—identified through World IDs—are always prioritized. This strategic allocation of block space could drastically enhance user experience by ensuring more equitable transaction opportunities.
To date, Worldcoin has achieved remarkable growth, amassing over 10 million World IDs and completing 75 million transactions. With its new blockchain, it is poised to scale even further by operating alongside and potentially beyond the capabilities of the Ethereum network as a second layer.
The network is not just about prioritizing humans but also reducing barriers for newcomers. Verified users will benefit from a ‘free gas allowance,’ effectively lowering the cost of initial transactions. This initiative by the Worldcoin Foundation aims to alleviate the typical complexities and costs associated with engaging in blockchain activities.
World Chain is also integrated with other significant blockchain projects like Optimism and Base, ensuring robust cooperation within the blockchain ecosystem. With a full launch expected in the upcoming summer and a developer preview on the horizon, Worldcoin is setting a new precedent in the Web3 domain.
The introduction of World Chain follows a series of proactive changes by Worldcoin, including enhancements to privacy protections and the development of new features like personal custody options, in response to global scrutiny over privacy practices. These changes demonstrate Worldcoin’s commitment to user security and regulatory compliance as it continues to expand its global footprint.