HomeNewsBreaking News: Worldcoin (WLD) to Introduce World Chain as Ethereum Layer 2...

Breaking News: Worldcoin (WLD) to Introduce World Chain as Ethereum Layer 2 Solution

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  • World Chain Aims to Boost Efficiency, Offering Priority Block Space to Verified Humans and Free Gas Benefits.
  • The New Protocol Will Enhance Worldcoin’s Capability, Facilitating Faster, More Reliable Transactions for Global Users.

Worldcoin, is set to launch its own Layer-2 blockchain named World Chain, which aims to operate on the Ethereum network. The announcement was made by Tools for Humanity, the primary developer of the Worldcoin initiative.

The launch is scheduled for later this summer, focusing on enhancing transaction efficiency for its growing user base.

World Chain: A New Layer-2 Network

World Chain intends to bolster the operational capacity of the Worldcoin ecosystem. This new network will prioritize verified human users over bots and provide them with some free transaction gas. 

The primary objective of World Chain is to facilitate the expansion of the network, allowing more people to join while ensuring that existing users experience faster, cheaper, and more reliable transactions.

Related: Buenos Aires Strikes Back: Worldcoin Faces $1.2 Million Fine Over Consumer Law Violations

The World Chain will deeply integrate with the existing Worldcoin infrastructure, utilizing World ID’s Proof of Personhood system. World IDs are unique identifiers assigned to individuals verified through an iris scanning process known as Orb verification.

To date, Worldcoin has registered over 5 million people, issuing WLD tokens as part of their engagement.

Enhancing User Privacy and Regulatory Compliance

Amid growing regulatory scrutiny globally, Worldcoin has also been proactive in addressing legal and compliance issues across various jurisdictions.

Recently, the initiative emphasized its commitment to privacy through the introduction of enhanced features like Personal Custody and an Unverify World ID option, employing zero-knowledge proofs (ZKPs) to secure user data.

Read more: Enhanced Personal Control: Worldcoin Rolls Out Unverify Option for World ID

These updates aim to give users greater control over their personal information while preserving the integrity and security of the network. The integration of these privacy features is a clear indication of Worldcoin’s dedication to user privacy and compliance with global regulatory standards.

By implementing these technologies, Worldcoin not only seeks to differentiate itself within the crowded cryptocurrency space but also addresses critical aspects of user trust and network sustainability. 

As the launch date approaches, the crypto community and potential users are keenly watching Worldcoin’s next moves, especially how it manages the balance between expansion, efficiency, and strict regulatory compliance.

The current price of Worldcoin (WLD) is approximately 4.89 USD. It has seen a slight decrease of 0.12% in the last hour and a decrease of 1.72% since yesterday. 

The current market capitalization is 929.12 million USD, ranking it 95th in terms of size among cryptocurrencies.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628