Sam Altman, together with his team, has entered the blockchain sector with World Coin, following their previous ventures in artificial intelligence and cryptocurrency. The launch of World Coin represents a notable pivot towards exploring the capabilities of blockchain technology. Worldcoin aims to establish a decentralized and open-source blockchain, with the ultimate objective of community-led governance.

Embracing Decentralization and Community-Led Governance

World Chain, set to debut in the upcoming summer, will function as a layer-2 network on Ethereum. The primary focus of World Chain is to accelerate the adoption of World ID. As stated in the official blog, “World Chain is crafted to significantly boost capacity, enabling seamless scalability for new users and ensuring quicker, more cost-efficient, and dependable transactions.”

Prioritizing User Experience and Community Participation

The blockchain platform will be seamlessly linked with the Worldcoin protocol, encouraging involvement from all parties. Nevertheless, current World ID holders will be given precedence in blockspace allocation, guaranteeing a smooth experience for legitimate users while countering the influence of automated bots. Furthermore, routine transactions will be supported through a specified gas allowance.

Expanding User Community and Platform Development

Worldcoin flaunts a substantial user community, accounting for about 44 percent of OP Mainnet’s operations, thus emerging as the most prominent application on the network. With a community that is rapidly expanding, the shift to a specialized network becomes essential. Since its inception nine months ago, the parent platform has effectively brought onboard over 10 million users from 160 nations. Currently, 5,010,140 individuals have validated their World ID using the patented Orb technology.

Unveiling World Chain, a novel blockchain tailored for humans ⚪️ pic.twitter.com/qNb7S3vqut

— Worldcoin (@worldcoin) April 17, 2024

Addressing Regulatory Obstacles

Despite its increasing popularity, Worldcoin has faced regulatory challenges in various key markets. Particularly, the project has encountered prohibitions in multiple regions, with Germany being the only exception where the collection of biometric data remains permissible.

In conclusion, World Coin’s entry into the blockchain realm signifies a shift towards decentralized governance and innovation driven by the community. With a resolute focus on user experience and technological progress, the project is well-positioned to redefine the landscape of blockchain technology.