The Worldcoin Foundation is introducing a new Layer-2 blockchain named World Chain. This innovative blockchain solution aims to solve scalability problems and boost network performance by implementing advanced authentication techniques and focusing on human users.
World Chain: A Layer 2 Blockchain Solution
Sam Altman, CEO of OpenAI, and the Worldcoin Foundation, in partnership with Tools for Humanity, have unveiled World Chain – an innovative Layer 2 blockchain solution developed by the Worldcoin Foundation. Designed to tackle scalability challenges and expedite user onboarding, World Chain represents a major leap forward in Worldcoin’s technology development. This announcement builds upon the existing Layer 2 blockchain project that Worldcoin has been working on.
The foundation asserts that World Chain is designed to accommodate a large user base, capable of handling up to 1 billion people through an infrastructure established on Optimism’s OP technology stack.
Prioritizing Human Users
With a focus on people rather than automation, World Chain brings a novel take on blockchain technology. Real humans will be given preference in terms of block space and gas limits, thereby improving the platform’s capacity and productivity for everyday transactions. This user-centric design aims to revolutionize how individuals engage with blockchain technology.
World Chain’s user authentication involves an advanced iris scanning technique, confirming legitimate human participants in the network. This feature strengthens security and offers advantages like no-fee transactions and reduced blockchain operational expenses. By effectively balancing the workload among bots and authentic users, World Chain enhances transaction efficiency and ensures superior service for all.
Combatting Bot Activity
A notable aspect of World Chain is its multi-tiered block storage system designed specifically for authentic users, minimizing the impact of bots. It’s estimated that bots make up to 80% of blockchain interactions, so this forward-thinking solution aims to alleviate network strain and decrease transaction fees. Through collaboration with World ID, users can verify their identities discreetly via zero-knowledge proofs, securing priority service and gas allocation without jeopardizing privacy.
Additionally, this system, funded initially by the Worldcoin Foundation, is expected to make transactions smoother and ensure a fair distribution of workload between real users and bots.
Scaling Infrastructure
To put it simply, Worldcoin intentionally uses World Chain as an expansion plan to deal with a rising number of users. This Layer 2 technology is designed to quicken transactions, lessen fees, and improve overall network performance. With over 5 million new registrants, World Chain becomes essential for handling larger transaction volumes and preserving excellent service standards as user interactions continue to increase.
Soon, you’ll have the chance to experiment with the developer version of World Chain. Its official release, complete with all its features, is planned for this summer.
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2024-04-18 17:15