• Worldcoin will unveil the brand new blockchain “World Chain” in the summertime.
• World Chain is an Ethereum L2 chain that may combine with WLD and World ID.

Worldcoin is about to release a brand new blockchain dubbed “World Chain”, in line with an announcement on Wednesday, April 17.

The worth of WLD, the local Worldcoin token rose reasonably after the scoop. While its up 3% up to now 24 hours at $4.90 on the time of writing, its in large part in damaging territory after dumping from highs of $6.57 on April 12.

World Chain – what do we all know?

World Chain shall be an Ethereum Layer 2 and is predicted to move are living in the summertime, Worldcoin, the mission co-founded by means of OpenAI CEO Sam Altman, stated within the weblog submit.

While the brand new blockchain will combine with the Worldcoin protocol and World ID’s Proof of Personhood, the objective is to in the long run have it run independently as a community-driven mission.

“World Chain will be an ecosystem of decentralized financial and identity apps focused on utility for everyday life,” the Worldcoin staff famous.

Introducing World Chain, a brand new blockchain designed for people ⚪️ pic.twitter.com/qNb7S3vqut

— Worldcoin (@worldcoin) April 17, 2024

According to the main points in as of late’s announcement, World Chain is “engineered for scalability with the Superchain ecosystem.” However, the brand new L2 will prioritize verified people over bots in relation to get admission to to blockspace.

The platform will even glance to stay bots off the community by means of providing fuel allowances to verified people. This might not be obtainable to computerized methods akin to bots deployed for airdrop farming that steadily congest networks.

ETH would be the local token, even though customers will even be capable of pay charges the usage of Worldcoin’s token WLD.

Worldcoin, which introduced in July 2023, and presented WLD tokens to those that verified their id by means of scanning irises by means of an orb. The mission has observed over 10 million other folks create a World ID and use the World App, the mission’s local pockets.

More than 5 million other folks have used the orb to make sure their World ID. However, the mission has confronted greater regulatory scrutiny since its release, the newest circumstances being in Spain and Portugal.