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Worldcoin Releases New L2 Project, World Chain

 1 week ago
source link: https://cryptomode.com/news/worldcoin-releases-new-l2-project-world-chain/
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Worldcoin Releases New L2 Project, World Chain

Worldcoin is expected to give users faster transactions and lower transaction fees with its Ethereum Layer-2 solution, World Chain.

Worldcoin
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Worldcoin, the brainchild of OpenAI co-founder Sam Altman, is unveiling its own Layer-2 (L2) blockchain solution built on Ethereum. Dubbed “World Chain,” the project aims to tackle scalability issues faced by the Worldcoin platform as it attracts more users.

Worldcoin is Rolling out New Features that Prioritize User Privacy

Scheduled for launch this summer, World Chain leverages Optimism’s OP Stack framework to offer faster transaction speeds and lower gas fees compared to the Ethereum mainnet. This aligns with Worldcoin’s goal of onboarding millions of users globally.

The L2 solution boasts a human-centric approach, prioritizing verified users over bots. Worldcoin ID holders will reportedly receive benefits like guaranteed block space and free transactions for everyday use. World Chain integrates seamlessly with the existing Worldcoin protocol for a cohesive user experience.

With the goal of differentiating real people from automated actors online, the Worldcoin  system  rewards users with cryptocurrency (WLD tokens) for signing up. Their website boasts over 5 million sign ups so far.

Meanwhile, Worldcoin is facing regulatory scrutiny around the world. Last month, the digital identity and crypto project had to clarify its legal and compliance status in different regions. In response to this pressure, Worldcoin is rolling out new features that prioritize user privacy. 

This includes “Personal Custody” giving users more control over their data, the ability to “Unverify” their World ID, and using advanced technology to anonymize transactions. These changes aim to empower users while keeping the network secure.

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Disclaimer

This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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