Worldcoin announces the launch of World Chain, a new human-centric blockchain. It will be accessible to all, and verified users will be granted gas allowances for casual transactions and precedence block space over bots.
World Chain-powered applications that function as utility applications for daily life enable developers to access millions of users worldwide. In order to facilitate expansion and capitalize on World ID’s Proof of Personhood, the network will be intricately woven into the Worldcoin protocol. In addition, it will be safeguarded as an L2 by Ethereum and designed for scalability within the Superchain ecosystem.
World Chain will operate in an open-source, permissionless, and community-controlled autonomous manner. Later this summer, the network is slated to commemorate its inaugural launch.
As a cornerstone of artificial intelligence, implementing decentralized finance will be facilitated by introducing the World Chain. It will usher in a paradigm shift in blockchain technology centered on utility, effectiveness, and user experience. The World Chain aims to facilitate scalability for both the Ethereum protocol and the broader global community. “Blockspace for all human beings” is the motivating motto that drives World Chain’s pursuit of progress.
World Coin user transactions power a significant portion of Mainnet activity, and World Coin is the network’s preeminent application. The introduction of World Chain illuminates the significance of transitioning to a dedicated network in light of the community’s immense size.
World Chain has been meticulously designed to accommodate the need for increased capacity, allowing its current users to benefit from streamlined and dependable transactions. Adoption of a dedicated network such as World Chain has a multitude of advantages. When it comes to Ethereum’s decentralization and scaling efforts, World Chain will soon be at the forefront.
The World Chain will find a reliable solution to the problem of blockchain optimization for low gas fees. Individuals can utilize World ID as credible confirmation of their humanity on popular apps. Using zero-knowledge proofs to anonymize them implies that addresses will no longer be associated with a person’s identity.
However, this is entirely optional. World ID provides users with a verification comparable to a blue checkmark, and anyone can submit transactions to this network because it is marketed as permissionless. Verified addresses are eligible for free gas allowances, and eliminating friction is a key purpose of the World Chain.
Finally, besides Ethereum (ETH), the native token, Eligibility for Worldcoin (WLD), will make paying fees a breeze. World App is the first of its kind, allowing over 10 million people in 160 countries to access and utilize on-chain applications using compatible wallets right once.
World Chain will eventually evolve into a smart system of decentralized financial and identification apps geared toward hectic daily life. The notion of World ID focuses on World Coin, which can be swapped, lent, rewarded, or paid. World Coin’s community funding will be very useful in assisting community developers.