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Cryptocurrency News Articles
Worldcoin Unveils Dedicated Network to Drive Mass Adoption
Apr 18, 2024 at 06:17 am
Worldcoin Foundation has unveiled its plan to launch a proprietary Layer-2 network called World Chain on Ethereum. This new blockchain, designed for human use, is set to debut this summer. Featuring open, permissionless governance, World Chain prioritizes verified users' transactions while anonymizing them through zero-knowledge proof technology. Additionally, the network aims for scalability by increasing the L2 block gas limit significantly. Despite ongoing concerns about biometric data privacy, Worldcoin contends that "Proof of Personhood" is necessary to combat AI user abuse. The company asserts its operations are legal and has implemented transparency and data handling improvements in response to regulatory scrutiny.
Worldcoin Unveils Dedicated Layer-2 Network for Mass Adoption
April 16, 2023
Worldcoin Foundation has announced plans to launch a novel Layer-2 network on Ethereum, dubbed World Chain. This blockchain, tailored specifically for human users, is set to debut in the summer of this year.
World Chain is designed to be an open and permissionless network, governed by its community. Unlike other Layer-2 solutions, World Chain will not require users to possess a verified World ID to participate. Instead, "everyone will be able [to] submit transactions," according to the company.
However, World Chain will prioritize transactions from verified users. Anonymity for these transactions will be ensured through zero-knowledge proof technology. Additionally, Worldcoin will provide verified users with a free gas allowance, claimed via WLD tokens every two weeks. Users can also opt to pay for gas in ETH. Initially, Worldchain intends to cover casual users' gas costs through fees from bots and power users.
Scalability is a primary focus for Worldcoin, which currently accounts for a substantial portion of network activity on OP Mainnet. In light of this growth, Worldcoin emphasizes the need for a "dedicated network" to support its ambitious goal of reaching 1 billion users—100 times its current user base of 10 million.
In a separate technical post, Worldcoin outlined its aim of significantly increasing the Layer-2 block gas limit to mitigate current network costs. The company stated:
"World Chain is an OP Stack chain that will be heavily targeted for scale. Our immediate goal is to increase the L2 block gas limit by a significant factor."
Combating Bots and Preserving Privacy
Worldcoin emphasizes the importance of verification, or "Proof of Personhood," in the face of advancements in artificial intelligence (AI). The company has highlighted the growing challenge of distinguishing between AI users and human users, a problem that can be addressed through user verification.
While concerns over AI abuse loom large, Worldcoin's approach—which relies heavily on biometric data—has sparked controversy. Regulatory concerns have been raised in various regions, including Spain, Portugal, and most recently, Buenos Aires.
Worldcoin has recently asserted the legality of its operations and announced improvements to transparency and data handling, including open-sourcing parts of its project.
Expansion and Growth
Worldcoin's App has recently surpassed 10 million users, a significant milestone for the project. The company's co-founder has outlined further efforts to enhance platform security.
In response to regulatory scrutiny, Worldcoin has also made its ORB software open-source, demonstrating its commitment to transparency in its biometric data collection process.
Conclusion
World Chain represents a significant step forward for Worldcoin, enabling it to expand its reach and achieve its ambitious goal of mass adoption. By prioritizing human users, providing gas subsidies, and addressing scalability concerns, World Chain aims to create a blockchain that democratizes access to decentralized technologies. However, the project's reliance on biometric data continues to raise privacy concerns that will need to be carefully addressed as Worldcoin expands its footprint.
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