Revolutionizing Blockchain: Worldcoinโs Human-Centered Network
Worldcoin, co-founded by Open AI CEO Sam Altman, is set to launch an Ethereum layer-2 blockchain that prioritizes verified human users over bots. Hereโs what you need to know:
An Innovative Approach
Worldcoin is introducing a new human-centered blockchain known as World Chain, built on Optimismโs Superchain. Here are some key points about this new network:
โ Worldcoin has over 10 million users, with 50% verifying their human identities using the projectโs Orb
โ World Chain aims to tackle the issue of bot-dominated transactions on major blockchains
โ The network will provide free gas allowances and faster confirmation times to verified users
Building a Better Blockchain
The Worldcoin Foundation is focused on creating a network that prioritizes human transactions and reduces congestion caused by bots on traditional blockchains. Users who verify their identities using World ID will enjoy benefits such as free gas allowances and quicker transaction confirmations.
โ World Chain will utilize Ether (ETH) as its native token
โ Verified users can use Worldcoin (WLD) tokens to pay for fees
โ The network is scheduled to launch this summer, with a developer preview to be released soon
Regulatory Challenges
Despite its innovative approach, Worldcoin is facing regulatory obstacles in various countries due to concerns about privacy violations. Here are some key details:
โ Authorities in Portugal, Spain, and Hong Kong have raised concerns about Worldcoinโs biometric data collection practices
โ The project has accumulated over 10 million users on the World App in 160 countries
โ The wallet app has facilitated over 70 million transactions
Hot Take: Embracing Innovation in Blockchain Technology
As Worldcoin prepares to launch its human-centered blockchain, the crypto community eagerly anticipates the potential benefits of this innovative approach. By prioritizing verified human users and addressing the issue of bot-dominated transactions, World Chain could pave the way for a more user-friendly and efficient blockchain network.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.