Sam Altman’s eye-scanning crypto project Worldcoin (WLD) is announcing the creation of its own Ethereum (ETH) layer-2 blockchain.
The project’s new blockchain, called World Chain, is designed to give priority blockspace to Worldcoin’s 5 million verified World ID holders over bots, and gas allowance for “casual transactions.”
[adinserter block="1"]World Chain will also be designed for scalability within Optimism’s Superchain concept, and optimized to first increase capacity for new users to join.
Using its ID system, the project says World Chain aims to tackle to issue of artificial intelligence-powered bots that can now spam blockchains with traffic that can congest networks and cause unnecessarily high fees.
“Much like the rest of the internet, many of the problems blockchains face today are aggravated by “bots”. By some estimates, as many as 80% of blockchain transactions are automated, and while many are for valid use cases, unproductive bots like airdrop farming ones often lead to congested networks and high fees. Ironically this tends to get worse as blockchains optimize for low gas fees and high throughput.
World Chain will address this with World ID. Just as people can use World ID to anonymously prove their humanity on apps—like Discord servers and Subreddits—they will have the ability to verify their addresses on World Chain. This is optional and anonymized through zero-knowledge proofs, meaning addresses are fully delinked from the person’s identity, and they simply get a verification akin to a blue checkmark.”
While anyone can submit transactions to World Chain, those created by verified humans will be prioritized for faster confirmation times, according to Worldcoin.
ETH will be the native token for the ecosystem, but users will also be able to pay fees using WLD, Worldcoin’s utility token.
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