Worldcoin is preparing to launch a revolutionary blockchain called "World Chain" that aims to prioritize human users over bots, thereby improving usability and accessibility. The Worldcoin Foundation has revealed that this platform will be deeply integrated with the Worldcoin protocol and will utilize the World ID's proof of personhood to promote a user-centric approach on the Ethereum network.
The Worldcoin Foundation has described the upcoming World Chain as an innovative solution to enhance user interactions with blockchain technology. It will achieve this by allocating priority block space and gas allowances specifically to verified human users, thereby improving scalability and efficiency, particularly for everyday applications.
The foundation has emphasized that World Chain will cater to a broad audience and has made preparations to support up to 1 billion individuals using Optimism's OP stack infrastructure. In a blog post, they highlighted the platform's objective to address the prevalent inefficiencies in blockchain systems that are exacerbated by bot-driven transactions.
Bot activity is estimated to account for up to 80% of all blockchain activity, leading to network congestion and increased fees. World Chain's integration with World ID enables users to anonymously confirm their identities through zero-knowledge proofs, ensuring prioritized service and gas without compromising privacy.
This mechanism is expected to optimize transaction processes and distribute the workload evenly between bots and legitimate users. The Worldcoin Foundation has provided initial funding for this initiative and is also supporting developers through the Worldcoin Community Grants and collaborative efforts.
"We anticipate a developer preview of World Chain in the near future, followed by a full launch later this summer," stated the foundation. Despite a general downturn in the cryptocurrency market on April 17, Worldcoin's native token, WLD, experienced a 3% increase following the World Chain announcement.
However, WLD has seen a 25.9% decrease against the U.S. dollar this week and is currently 46% below its value from the past 30 days. Around 16.4% of WLD transactions are conducted with the South Korean won, and WLD is currently trading at a premium on Bithumb. While the global weighted average price for WLD is $4.80 per unit, it is priced at $5.21 per unit in South Korea.
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