Worldcoin, the biometric ID and UBI project, has announced the launch of the developer preview of World Chain, a new blockchain that will allow it to scale beyond the numbers currently achieved. This developer preview will serve as a platform for developers to reach 10 million users across 160 countries, starting to build apps before its general release later this year.

World Chain Launches in Developer Preview, Seeks to Increase Worldcoin’s Reach and Scalability

Worldcoin, the universal basic income (UBI) and proof of personhood project, has launched the developer preview of its soon-to-be-launched World Chain blockchain. World Chain aims to become an integral platform for Worldcoin users to enjoy a “permissionless, open source and independently governed” platform to link their verified identities with several third-party services, including stablecoin finance, international remittances, and commerce use cases.

The developer preview will allow developers to start building apps and experiment with these before the general rollout of the network to over 10 million users in 160 different countries. The totality of the users of World ID, the wallet app that serves Worldcoin users, will be migrated to this new chain later this year.

One of the drivers of the migration to World Chain, an Ethereum L2 built on top of the Optimism stack, is scalability. Worldcoin states that, as of now, 50% of all activity in the Optimism is generated by Worldcoin users. This can increase up to 80% during peak periods.

This is why World Chain is being launched, and at first, it is expected to process double the amount of work before impacting the fee market on the new network.

Worldcoin states that safety is also of utmost importance for the project. World Chain will be launched as a stage 1 rollup, meaning it will implement a fault-proof system designed to identify and revert fraudulent transactions.

Worldcoin first announced the concept for World Chain in April, describing it would be designed to address the current inefficiencies of blockchain systems, aiding itself with World ID user identification data.

Source : Bitcoin News - Jul 11, 2024