This summer, Worldcoin – a identification system that uses iris scanning for verification – intends to debut its own blockchain named World Chain, which will be built on Optimism’s OP Stack technology.
The introduction of World Chain aims to resolve traffic problems on its existing network, since around 43% of all transactions taking place on Optimism are attributed to Worldcoin’s activity.
With the support of AI trailblazer Sam Altman, this innovative platform aspires to introduce a universally accepted currency and confirm identities for its growing community of over 5 million users. As revealed in their latest declaration, Worldcoin will incorporate proof-of-personhood technology into their new layer, World Chain, to authenticate transactions and thwart bot activity that could potentially overload the network with excessive demand.
To decrease the number of bots using it, World Chain will raise gas fees for automated transactions, thus providing discounts for occasional human users. This fee structure aims to favor human users by lowering their expenses and expediting confirmation of their transactions.
Introducing World Chain, a new blockchain designed for humans ⚪️
— Worldcoin (@worldcoin) April 17, 2024
According to a tweet from Optimism’s Chief Growth Officer Ryan Wyatt, he endorses Worldcoin’s approach of emphasizing human connections, which could potentially lead to an increase in Optimism’s user base. Worldcoin aims to build applications centering on payments, stablecoins, and identity verification.)
In Spain and Portugal, Worldcoin’s data collection methods have raised regulatory concerns, resulting in brief limitations.
The price of Worldcoin’s native token, WLD, hovers around $4.87 in the market. Its primary role is to serve as the fuel token for transactions on the World Chain network, highlighting its functional significance.
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2024-04-17 20:03