Sam Altman, the CEO of OpenAI, launched the identity coin firm Worldcoin, and with its new blockchain network, World Chain, it is advancing its “human-centric” approach to the Web3.A new blockchain project called World Chain, which aims to prioritize human users, improve efficiency, and promote practical utility in Web3 apps, was unveiled by Worldcoin on April 17.
Worldcoin’s quick growth is demonstrated by the fact that it has created more than 10 million World IDs and executed 75 million transactions.In order to suit the objectives of the project, its own specialized network has been created to scale alongside the larger Ethereum network as a layer 2.To learn more about Worldcoin’s network strategy and approach to keeping people at the center, Cointelegraph spoke with Tiago Sada, the organization’s chief of operations.
According to Sada, World Chain will function technically like any other L2 and Ethereum, but it differs in that it gives humans priority over bots, since bot activity frequently causes blockchains to get congested.
“Usually, the way it works is that every account is fighting for block space. Usually, since bots can move faster and they can outbid humans,” he said, “the networks get saturated with all the transactions for bots, and humans have whatever is left — many times, they can’t even get in.”
In an attempt to address this, World Chain’s solution favors transactions carried out by confirmed World ID holders.
“It’s going to be an open and permissions network like everyone else, but we are going to prioritize transactions for humans so that their transactions definitely get in, and then the remainder of the block space is just like any other blockchain.”
Sada also described how confirmed customers will be eligible for a free gas allowance, reducing the barrier to entry for newcomers.The protocol seeks to reach a balance where gas prices for occasional users are eventually covered by bots and power users.He described how confirmed humans would receive a “allowance” from the Worldcoin Foundation that would render their few monthly transactions gas-free.
“The idea with that is just to make it a lot easier for people to get started, so that one does not need to go through the pains of unwrapping and understanding all these things.”
The network supports Ethereum and works with initiatives like as Base and Optimism.Worldcoin plans to launch fully in the summer, with a developer preview scheduled for the near future.This announcement follows a number of modifications the project has been making, such as strengthening privacy controls to better safeguard user data and guaranteeing that its platform is only accessible by adults over the age of 18, as well as permitting the permanent removal of the user’s iris code.
In addition, Worldcoin added a new “personal custody” privacy feature and published its Orb software open-source on March 22.These actions come after international governments scrutinized the company’s privacy policies, which resulted in a few temporary operational bans in nations like Portugal, Kenya, and Spain.In response to the criticism, Saba stated that Worldcoin is “fortunately” scaling at the same rate as the new protocol, which is just the normal course of events.
“When any project starts getting to scale, it’s the government’s job to go in and make sure that everything that the project is saying is actually true. And I think that’s completely natural.”