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Sam Altman's Crypto Project Enters the Blockchain Market With 'World Chain' World Chain, a layer-2 network on Ethereum, is slated to be launched later this summer. The blockchain will help accelerate the adoption of World ID

By Paromita Gupta

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After artificial intelligence and cryptocurrency, Sam Altman and Co. are now eyeing the blockchain market with World Coin. According to Worldcoin, "It will be permissionless, open source, and intended to ultimately be independently governed by the community."

World Chain, a layer-2 network on Ethereum, is slated to be launched later this summer. The blockchain will help accelerate the adoption of World ID, "World Chain is designed first and foremost to significantly increase capacity so new people can continue to join at scale, and existing users can enjoy faster, cheaper, and more reliable transactions," read the official blog.

The blockchain network will be integrated with the Worldcoin protocol and be open for all. However, the existing World ID holders will get priority blockspace over bots and a gas allowance for casual transactions.

Worldcoin's user transactions currently represent about 44 per cent of OP Mainnet's (formerly called Optimism) activity, making it the largest application on the network, "Given the scale and growth rate of the community, it's time to graduate to a dedicated network."

The parent platform has onboarded an impressive 10 million+ users across 160 countries since inception nine months ago. As of today, 5,010,140 people have verified their World ID using the patent Orb.

Notably, Worldcoin has been banned in a several major countries with Germany being the only market where the project is currently able to collect biometrics.

Paromita Gupta

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
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