Worldcoin unveils new Layer-2 network ‘World Chain’

The Sam Altman-founded “proof-of-humanity” project Worldcoin — which rebranded to World — has launched an Ethereum layer 2 blockchain it dubbed World Chain.

In an Oct. 17 statement, World said the 15 million users who have verified their identity by scanning their iris for a “World ID” could now use the network.

The firm launched World Chain to help improve efficiency and introduce new functionality for users of its Worldcoin WLD token as the company looks to expand its onboarding efforts.

World said its new blockchain would prioritize verified human users — those with World IDs — ahead of bots by giving them access to block space as well as an allowance of free gas.

Additionally, World said that its blockchain would feature a roster of top apps and projects, including Optimism for interoperability, Uniswap for asset swaps, Zerion for real-time APIs, and Alchemy for development, among others.

World first announced World Chain in April this year, at the time saying the network furthered its “human-centric” approach to propagating crypto adoption. Alongside the launch of World Chain, World changed its name and unveiled a new version of its “Orb” — a biometric device that takes the form of a chrome sphere that the company uses to scan people’s eyeballs.

The company also revealed new options for identity verification and partnerships with social media apps including FaceTime, WhatsApp, and Zoom.

The new Orb, powered by Nvidia hardware, will be more efficient and “five times” more powerful than its predecessor with a smaller footprint and fewer parts, it said.

Launched out of beta in July 2023, Worldcoin was founded by OpenAI CEO Sam Altman, current CEO Alex Blania, and Max Novendstern who also serves as the CEO of biometrics research firm Mana.

Worldcoin is a crypto-based digital identity project that markets itself as solving identity issues brought about by rapid developments in AI. Additionally, the firm says it aims to usher in a new universal basic income model through its WLD token.

Worldcoin users register a unique identity with the company’s “World App” by scanning their irises at an Orb device. Once users verify themselves at an Orb, they are then able to opt in to claim an allocation of free WLD tokens.

The WLD token appeared largely unaffected by World’s announcement of a new network, with its price falling 2.1% on the day, according to CoinGecko.

Source: https://cointelegraph.com/news/worldcoin-launches-layer-2-network-world-chain