Sam Altman’s Worldcoin project, known for its proof-of-humanity initiative, is set to leverage its own Layer 2 blockchain to enhance efficiencies during user onboarding.
The newly introduced Layer 2, dubbed World Chain, will be backed by Ethereum for security purposes, as per an official statement. Moreover, verified human users will receive preferential treatment in blockspace allocation over bots and may even benefit from some gas fee waivers, the statement elaborated.
Formally, the Worldcoin Foundation is spearheading the launch of the new Layer 2, although Tools for Humanity has been the primary driver behind the development and promotion of Worldcoin.
Altman, the CEO of the prominent artificial intelligence firm OpenAI, serves as the co-founder of Tools for Humanity. The Worldcoin project’s core objective is to assign individuals World IDs once they verify their humanity through an iris scan, with participants receiving cryptocurrency in the form of WLD tokens upon sign-up.
The underlying ethos of the Worldcoin project underscores the belief that the future viability of the internet necessitates a system capable of distinguishing between human and non-human entities.
World Chain aims to bolster capacity, enabling seamless scalability for new user acquisitions and delivering faster, more cost-effective, and reliable transactions for existing users, according to the statement. The anticipated launch timeframe for the new Layer 2 is this summer.
Worldcoin boasts a user base exceeding 5 million individuals, as indicated on its website.
