Opinions shared by contributors at Entrepreneur are their own.

You are currently perusing Entrepreneur India, which is part of the global Entrepreneur Media franchise.

Following their ventures in artificial intelligence and cryptocurrency, Sam Altman and his team are now setting their sights on the blockchain sector with World Coin. Worldcoin envisions a platform that is decentralized, open-source, and community-managed in the long run.

Scheduled for release later this summer, World Chain, a layer-2 network built on Ethereum, aims to drive the adoption of World ID. The primary objective of World Chain is to enhance scalability, enabling seamless onboarding of new users and ensuring faster, more cost-effective, and reliable transactions for existing users.

The upcoming blockchain network will be closely linked with the Worldcoin protocol and will be inclusive to all users. Priority blockspace will be allocated to current World ID holders, giving them preference over automated bots and providing a gas allowance for regular transactions.

Presently, Worldcoin’s user transactions contribute to approximately 44% of the activity on OP Mainnet (previously known as Optimism), establishing it as the most prominent application on the network. With the community’s substantial growth and scale, the transition to a dedicated network has become imperative.

Since its inception nine months ago, the parent platform has successfully onboarded over 10 million users spanning 160 countries. Currently, more than 5,010,140 individuals have verified their World ID through the patented Orb system.

It is noteworthy that Worldcoin has faced restrictions in several significant markets, with Germany being the sole country where the project can legally collect biometric data.