• World Coin will announce a brand new blockchain “World Chain” in the summertime.
• World Chain is an Ethereum L2 chain that integrates with WLD and World ID.

In keeping with an announcement on Wednesday, April seventeenth, WorldCoin plans to launch a brand new blockchain referred to as “WorldChain.”

Following this information, the worth of WLD, the native World Coin token, elevated barely. On the time of writing, the inventory is $4.90, up 3% previously 24 hours, however has remained principally in unfavorable territory since plummeting from a excessive of $6.57 on April twelfth.

World Chain – What do we all know?

WorldCoin, a challenge co-founded by OpenAI CEO Sam Altman, stated in a weblog submit that WorldChain is scheduled to go dwell on Ethereum Layer 2 in the summertime.

The brand new blockchain will likely be built-in with the WorldCoin protocol and World ID identification proofing, however the aim is to finally run independently as a community-driven challenge.

“World Chain will likely be an ecosystem of decentralized finance and identification apps targeted on practicality in on a regular basis life” identified the World Coin group.

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

— World Coin (@worldcoin) April 17, 2024

In keeping with particulars in at present's announcement, World Chain is “designed to allow scalability by the Superchain ecosystem.” Nevertheless, the brand new L2 prioritizes authenticated people over bots with regards to accessing blockspace.

The platform additionally goals to maintain bots out of the community by offering fuel allowances to authenticated people. It doesn’t have entry to automated techniques reminiscent of bots deployed for airdrop farming, which frequently congest networks.

Though ETH would be the native token, customers can even pay charges utilizing Worldcoin's token WLD.

Worldcoin launched in July 2023, providing WLD tokens to individuals who verified their identification by scanning their iris by an orb. The challenge has helped greater than 10 million folks create World IDs and use the challenge's native pockets, the World App.

Over 5 million folks have used Orb to confirm their world identification. However the challenge has confronted elevated regulatory scrutiny since its inception, with the most recent circumstances occurring in Spain and Portugal.