Worldcoin announces its own Layer 2 blockchain

Tools for Humanity, the main developer behind the Worldcoin (WLD) project, announced that it will launch its own Layer 2 blockchain in order to improve efficiency in onboarding new users.

The new layer 2, called World Chain, will have the protection of the Ethereum blockchain, as stated by the company in a statement released this Wednesday (17). Additionally, users who are verified as human by the platform will get “block space priority over bots and some free gas,” Tools for Humanity said.

Sam Altman, CEO of renowned artificial intelligence company OpenAI (behind ChatGPT) and co-founder of Tools for Humanity, leads the Worldcoin project.

Worldcoin advances and announces layer 2 Worldcoin

The Worldcoin project aims to assign global IDs to people after proving their human identity through an iris scan. Those who sign up receive cryptocurrency in the form of WLD tokens.

The vision behind the Worldcoin project revolves around the idea that the future health of the internet will require a system that distinguishes human from non-human actors. However, the way people’s identities are verified through iris scanning raises controversy about the use of data processing and privacy. Because of this, Worldcoin has been “barred” and investigated in several countries around the world.

Recently, as reported by CriptoFácil, the Ministry of Production, Science and Technological Innovation of the province of Buenos Aires, Argentina, launched accusations against the company Worldcoin alleging the presence of abusive clauses in its contractual terms and conditions. This action could result in a fine of more than R$6 million.

Despite this, Worldcoin continues to advance. According to the statement, World Chain intends to “increase capacity so that new people can continue to join at scale, and existing users can enjoy faster, cheaper, and more reliable transactions.” The new layer 2 should hit the market this summer in the United States, that is, between June and August, informed Tools for Humanity.

According to the Worldcoin website, more than 5 million people have already registered with the project. The project’s native token, WLD, has not yet been positively impacted by the news of the launch of layer 2. According to data from CoinGecko, in the last 24 hours, the token fell around 2% to US$4.80.