Worldcoin, a start-up focused on identity coins and founded by OpenAI CEO Sam Altman, is taking a unique approach to the Web3 space with its latest blockchain network, World Chain. The company aims to prioritize human users, improve efficiency, and promote real-world utility in Web3 applications.
Worldcoin recently achieved a significant milestone, surpassing 10 million World IDs created and 75 million completed transactions, indicating its rapid growth. To meet the project’s requirements, Worldcoin has developed its dedicated network that can scale alongside the broader Ethereum network as a layer 2 solution.
Cointelegraph had the opportunity to speak with Tiago Sada, the head of operations at Worldcoin, to gain a better understanding of the project’s objectives and how it plans to keep humans at the forefront. Sada explained that while World Chain functions similarly to other layer 2 solutions and Ethereum, its unique feature is its focus on prioritizing humans over bots. Often, blockchains experience congestion due to bot activity, leaving little room for human transactions. World Chain aims to address this issue by favoring transactions completed by verified World ID holders.
Sada further elaborated that verified users will receive a free gas allowance, making it easier for newcomers to participate in the network. The protocol strives for a balance where bots and power users cover gas fees for casual users. To achieve this, the Worldcoin Foundation will provide an “allowance” to verified humans, allowing them to conduct a few monthly transactions without gas fees.
The network aligns with Ethereum and collaborates with projects like Optimism and Base. Worldcoin expects to launch fully in the summer, with a developer preview coming soon.
This announcement follows a series of changes implemented by Worldcoin, including stricter privacy checks to protect user data and ensuring that only individuals over 18 can access the platform. The company has also made its orb software open-source and added a “personal custody” privacy feature. These measures were taken in response to scrutiny from governments worldwide regarding its privacy practices, leading to temporary bans in countries like Portugal, Kenya, and Spain.
Sada addressed the scrutiny, stating that it is a natural part of introducing a new protocol that is scaling at Worldcoin’s pace. He emphasized that it is the government’s responsibility to verify the project’s claims as it expands.
In other news, a recent report reveals that 1 in 6 new Base meme coins are scams, with 91% of them having vulnerabilities.