Human-focused crypto project Worldcoin, led by OpenAI chief Sam Altman, is building its own layer-2 blockchain on the Ethereum network. This new chain, called World Chain, is designed to prioritize transactions from verified users who have completed Worldcoin’s iris-scanning identification process.

Key Highlights About World Chain

• Focus on Verified Humans: World Chain aims to combat the growing presence of bots on blockchains by giving priority to transactions initiated by users who have undergone Worldcoin’s verification process using a special device called “The Orb.”
• Faster, Cheaper Transactions: World Chain leverages Optimism’s OP Stack framework, offering users faster transaction speeds and lower fees compared to the main Ethereum network.
• Integration with Existing Apps: The Worldcoin protocol can be integrated with other wallet applications besides Worldcoin’s own World App, allowing a wider range of users to benefit from verified transactions.
• WLD as a First-Class Currency: World Chain elevates Worldcoin’s native token, WLD, to the same level as Ether (ETH) on the network, allowing both to be used for gas fees.

Addressing Privacy Concerns

Worldcoin has faced criticism surrounding its iris-scanning technology and data privacy practices. The project has implemented new encryption techniques and alternative verification methods to address these concerns.

Uncertain Future

Despite recent growth, Worldcoin remains a controversial project. Regulatory scrutiny persists in some regions, and the long-term success of its unique verification system is yet to be seen.

Overall, World Chain marks a significant development for Worldcoin. While its focus on verified users presents a novel approach, the project’s future hinges on overcoming privacy concerns and gaining wider adoption.