Worldcoin to launch its very own Layer 2 blockchain, known as World Chain.

Worldcoin is gearing up to launch its very own Layer 2 blockchain, known as World Chain. 

This highly anticipated development is set to debut this summer and will be under the ownership and governance of the Worldcoin project.

Worldcoin, spearheaded by Sam Altman's proof-of-humanity initiative, is taking a significant step forward by implementing its own Layer 2 blockchain. 

This move is aimed at enhancing operational efficiencies and facilitating the onboarding of new users.

The forthcoming Layer 2 solution, World Chain, will leverage the security of Ethereum, as stated in an official announcement. 

Moreover, verified human users will be granted priority blockspace over bots, alongside certain gas benefits, according to the same statement.

The Worldcoin Foundation will officially launch the new Layer 2, even though Tools for Humanity has been at the forefront of Worldcoin's development and promotion. 

Tools for Humanity, co-founded by Sam Altman, who is also the CEO of prominent artificial intelligence firm OpenAI, is dedicated to the advancement of the Worldcoin project. 

This initiative aims to assign individuals with World IDs after verifying their humanity through iris scans. Participants who register are rewarded with WLD tokens, a form of cryptocurrency.

The core concept driving the Worldcoin project is centered around the notion that the future of the internet necessitates a system that can distinguish between human and non-human entities.

World Chain is specifically designed to bolster capacity, allowing for seamless scalability to accommodate new users, as well as enabling faster, more affordable, and reliable transactions for existing users. 

The anticipated release of this new Layer 2 solution is slated for this summer.

Worldcoin has already attracted over 5 million individuals who have signed up, according to the project's website.