Worldcoin Launches New Blockchain World Chain to Reach 1 Billion Users

Worldcoin , a crypto project founded by Sam Altman, CEO of OpenAI, announced the launch of a new blockchain called "World Chain" with ambitious ambitions to bring 1 billion people into the blockchain ecosystem.

The new blockchain is designed to expand the reach of Worldcoin and the Ethereum network as a whole, overcome scalability limitations and pave the way for mass adoption of cryptocurrencies.

Worldcoin Expands Reach 

Worldcoin is currently the largest application on Optimism, a Layer-2 scalability solution for Ethereum, with its users' transactions accounting for 44% of total activity on the network.

However, Worldcoin's surge in activity often leads to network congestion and soaring transaction fees.

"With the incredible scale and pace of community growth, it's time to move to a dedicated network," the Worldcoin team said.

World Chain comes as a solution to overcome this problem, offering higher scalability and lower transaction fees to support Worldcoin's ambition to reach 1 billion users.

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Priority for Verified Users

World Chain adopts an innovative approach in verifying the identity of users. World ID, the identity verification system developed by Worldcoin, will play an important role in this new network.

About 80% of blockchain transactions can be automated, and many of them are used for valid use cases. However, unproductive bots, such as yield farming bots, often lead to network congestion and high costs.

World ID aims to address this problem by prioritizing transactions from verified users. Anyone can make transactions on this open, permissionless network, but verified users will get faster confirmation times.

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Has a Mission to Become a Multipurpose Blockchain

World Chain has no ambition to become a versatile blockchain platform. The focus is on building an ecosystem of decentralized financial and identity applications focused on real utility for everyday users.

The project will leverage Sybil World ID's resilience to build diverse applications, including stablecoins, payments, rewards, ram, loans, exchanges, and more.

World Chain will integrate with the Worldcoin protocol to accelerate its growth and use Proof of Personhood World ID for sybil-resistant applications.

This network will be permissionless and open source, with the community ultimately owning and governing this network. Ethereum will secure the network as a Layer-2, designed for scalability alongside the Superchain ecosystem.

World ID and WLD, Worldcoin's native tokens, will remain decentralized assets that can be used and applied to networks outside the World Chain.

Conclusion

The launch of World Chain signals a significant step forward for Worldcoin and the blockchain industry as a whole. With a focus on scalability, identity verification, and real utility, World Chain has the potential to pave the way for mass adoption of cryptocurrencies and open up new opportunities for decentralized applications that benefit everyday users.

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How to Buy Worldcoin (WLD) on Bittime

You can buy and sell Worldcoin (WLD) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

Worldcoin (WLD) is available on Bittime with the market pair WLD/IDR. To be able to buy WLD IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the complete guide on how to buy Worldcoin (WLD) on Bittime.

Monitor the price chart movements of Worldcoin (WLD), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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What Is Worldcoin and How Does It Work

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Worldcoin (WLD) Acquires Ottr Finance Crypto Wallet Provider

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.