Worldcoin rebranded to World, then introduced a new Ethereum layer-2 blockchain called World Chain.
This network is designed to give verified human users priority over bots by allowing them better access to blockspace and offering free gas allowances.
User verification equals user experience?
The “proof-of-humanity” project World launched this new blockchain to improve efficiency and provide new features for its users, for the 15 million individuals who have verified their identities by scanning their irises for a World ID.
They can now utilize the World Chain. The company wants to boost its onboarding efforts while ensuring that verified users receive priority over automated systems.
Alongside this, World also partnered with popular applications like Optimism for interoperability, Uniswap for asset swaps, Zerion for real-time APIs, and Alchemy for development support.
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World first announced the plans of World Chain back in April, shared that this initiative aligns with its human-centric approach to promoting crypto adoption.
Along with the launch of World Chain, the company rebranded itself and introduced a new version of its Orb, the biometric device shaped like a chrome sphere used to scan people’s irises.
The updated Orb, now powered by Nvidia hardware, is said to be five times more powerful than the previous version while being more compact and having fewer components.
Identity issues in the age of AI
Launched in July 2023, Worldcoin was co-founded by Sam Altman, current CEO Alex Blania, and Max Novendstern, who also leads the biometrics research firm Mana.
The project wants to tackle identity challenges that arise from rapid advancements in artificial intelligence.
Additionally, it seeks to introduce a new model of universal basic income through its WLD token.
Users of Worldcoin register their unique identities using the World App by scanning their irises at an Orb device.
Once verified, they can choose to claim an allocation of free WLD tokens. Despite the announcement of the new network, the WLD token’s price fell by 2.1% on the same day.
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