Layer 2 World Chain Will Launch This Summer

Key Points:

• WorldCoin’s World Chain, a Layer 2 network, will launch soon, emphasizing scalability and community governance.
• Secured by Ethereum, World Chain introduces “World ID” for address verification with user anonymity.
• The move to a dedicated network promises cost reductions and scalability, enabling decentralized financial and identity applications for developers.

WorldCoin has revealed plans for the launch of its Layer 2 network, World Chain, scheduled to debut in the upcoming summer season. Spearheaded by the crypto venture co-founded by OpenAI’s CEO, Sam Altman, World Chain aims to establish a robust financial and identity network.

WorldCoin Unveils World Chain: A Scalable Layer 2 Network Launch

Designed as an OP Stack chain, World Chain prioritizes scalability, with immediate efforts directed towards enhancing the gas limit for Layer 2 blocks. The network, secured by Ethereum as an L2, is poised to operate within the Superchain ecosystem, emphasizing permissionless attributes, open-source architecture, and eventual community governance.

Recently surpassing milestones of 10 million World IDs created and 75 million completed transactions, Worldcoin showcases rapid expansion. The platform’s dedicated network, synchronized with Ethereum as a layer 2, ensures scalability aligned with project requirements.

World Chain introduces a novel feature: a digital passport termed World ID, attainable by users scanning their eyeballs, positioning itself as a haven for “verified humans” amid an era characterized by AI proliferation. This initiative signifies a shift from World ID’s previous decentralized application status on Ethereum to an independent chain, offering developers enhanced control and potentially reduced costs.

The migration to a dedicated network promises substantial benefits, with future prospects focused on advancing scalability and decentralization within the Layer 2 paradigm. With World ID facilitating address verification while preserving anonymity through zero-knowledge proofs, World Chain underscores its commitment to user privacy.

Cost-Effective Scalability for Decentralized Applications

Utilizing the OP Stack framework, World Chain aligns with Coinbase’s Base network, which is popular among blockchain startups. Employing Layer-2 rollups, the network aggregates transactions before finalization on Ethereum, offering users cost-effective alternatives.

The chain also extends to developers, providing access to a broad user base across 160 countries from its inception. It enables the deployment of decentralized financial and identity applications, the ecosystem prioritizes utility, encompassing stablecoins, payments, rewards, lending, and swapping functionalities.