2024-04-17 17:01:48 Eastern Standard Time
Worldcoin launches Ethereum Layer 2 blockchain based on Optimism (OP) stack. The blockchain, named World Chain, prioritizes verified humans over bots and trading algorithms.
Despite the development of human-centric blockchain networks, the price of WLD has plummeted.
World Chain to launch in summer 2024, prioritizes humans over bots
The Solana blockchain faced a significant spike in failed transactions due to on-chain congestion issues. The developers believe this is due to bots spamming her SOL blockchain. World Chain, Worldcoin's layer 2 chain, plans to prioritize authenticated humans over bots and offer lower fees and faster speeds to users.
Worldcoin's retinal scanning orb collects user data to authenticate humans, and the blockchain is integrated with the Worldcoin protocol to provide benefits to users. The World Chain is Ethereum Layer 2, so its security comes from the Ether Chain.
The blockchain built on the OP stack is scheduled to launch in summer 2024.
Worldcoin's plan is to continue onboarding users at a fast pace while offering them fast and cheap transactions, and the project's original plan was to provide users with Universal Basic in exchange for a verified World ID account. It was to provide income.
The project continues to focus on communicating benefits to users through layer 2 chains using real human identities.
According to the official announcement, WorldChain will be a permissionless, open source blockchain that will ultimately be managed by the community. Layer 2 chains are designed for scalability as part of a superchain, a network of OP chains that share security, communication layers, and an open source technology stack.
At the time of writing, WLD's price has fallen by nearly 7% and is trading at $4.794 on Binance. The World Coin Protocol token has lost nearly 29% of its value over the past week as Bitcoin retreated and fell to $61,000.
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