2024-04-17 17:01:48 ET
Worldcoin is launching an Ethereum Layer 2 blockchain based on the Optimism (OP) Stack. The blockchain, labeled World Chain will prioritise verified humans over bots and trading algorithms.
WLD price plummeted despite the development of the human-focused blockchain network.
World Chain to launch in summer of 2024, prioritise humans over bot
The Solana blockchain faced a massive spike in failed transactions due to congestion issues on its chain. Developers attributed this to bots spamming the SOL blockchain. Worldcoin’s Layer 2 chain, World Chain plans to prioritise verified humans over bots and offer users cheaper fees and faster speed.
Worldcoin’s retina-scanning orb has collected user data to verify humans and the blockchain will integrate with the Worldcoin protocol to offer benefits to users. World Chain is an Ethereum Layer 2, therefore it derives its security from the Ether chain.
Built on the OP stack, the blockchain is expected to launch in the summer of 2024.
Worldcoin’s plan is to keep onboarding users at a fast pace while offering them faster and cheaper transactions, the project’s initial plan was to offer a Universal Basic Income to users, in exchange for a verified World ID account.
The project remains focused on using real human identities to pass on benefits to users, through the Layer 2 chain.
The World Chain will be a permissionless, open-source blockchain and will be governed by the community, eventually, according to the official announcement. The Layer 2 chain is engineered for scalability as part of the Superchain, a network of OP Chains that share security, a communication layer, and an open-source technology stack.
At the time of writing, WLD price is down nearly 7%, trading at $4.794 on Binance. The token of the Worldcoin protocol lost nearly 29% of its value in the past week as
Bitcoin
suffered a setback and coils to $61,000.
The post
Worldcoin set to launch Ethereum Layer 2 World Chain this summer
appeared first on
Invezz
Be the first to comment