- World Chain is set to debut in the summer of 2024.
- Verified humans receive priority over bots in transactions.
- Focus on utility apps for everyday life, supported by World ID.
Blockchain tech has evolved significantly since its Bitcoin origins, promising to create a completely new way of digital interaction. However, this evolution has challenges, particularly in scalability and governance, which are consistently threatened by bot traffic.
Led by Sam Altman, Worldcoin is poised to introduce World Chain in the summer of 2024, a new blockchain network that integrates with the World ID system, aiming to prioritize transactions from verified human users. This initiative seeks to leverage biometric data from Worldcoin’s orbs to make a human-focused chain.
How World Chain Verifies Real Users
On Wednesday, April 17, Worldcoin unveiled World Chain, a blockchain network integrated with World ID, which will prioritize human transactions. Worldcoin’s Proof of Personhood system, and its iris-scanning orbs, will use biometric data to ensure that real humans are using the network.
The network, set to launch in the summer of 2024, will prioritize transactions that originate from verified human users. These include the 5 million people in 160 countries who have verified their World ID using Worldcoin’s iris-scanning orb.
Thanks to Worldcoin’s Orbs, which scan users’ irises, World Chain can verify whether or not a user is a real human. This way, it can prioritize human traffic, enabling faster transaction times for humans.
Additionally, verified users will be allocated a certain amount of ‘free gas’, to perform transactions. This means that users will be able to send money across the network for free, further boosting participation.
On the technical side, World Chain will work as an L2 solution on Ethereum. This enables it to leverage the security of the largest smart-contract-enabled blockchain networks, while also retaining the speed of an L2 network.
Why Worldcoin is Going After Bots
Bots have become increasingly problematic for blockchain networks, impacting network congestion, airdrops, and decentralized governance systems within the blockchain ecosystem. Most recently, bot traffic has impacted the Solana network, leading to major congestion issues.
In crypto airdrops, which are giveaways designed to attract participants, bots often take the lion’s share of rewards. Airdrop farmers can program bots to create multiple wallets, taking a disproportionate amount of rewards. This skews the distribution and also dilutes the value for genuine participants.
In governance, bots can amass significant voting power, leading to manipulated outcomes that do not reflect the community’s will. Moreover, in systems where governance participation is incentivized with rewards, bots can exploit these mechanisms, draining resources intended for active, engaged community members.
On the Flipside
- Multiple countries, including Kenya and Spain, have banned Worldcoin’s iris scanning tech, citing privacy concerns.
- Worldcoin has experienced a major hack last year, exposing user data. The project has since fixed its vulnerabilities.
Why This Matters
By reducing congestion and prioritizing human transactions, World Chain could significantly improve the blockchain user experience, making it faster and more cost-effective for everyday users.
Read more about Ethereum founder’s take on Worldcoin:
Vitalik Buterin Praises Worldcoin, Despite Privacy Concerns
Read more about the Telegram CEO’s take on government spying:
Telegram CEO Proposes Crypto-Like Tech to Block Govt Spying
