Ensuing their pursuit in the quick-paced AI and cryptocurrency sphere, Sam Altman and his passionate team have progressed in the blockchain realm with World Coin. With no second thought, the advent of World Coin takes blockchain technology to a higher elevation in harnessing its utmost potential. Establishing a restriction-free open-source blockchain aimed at attaining independent governance by the community has been Worldcoin’s inherent motive.
Adhering to Decentralization and Community Governance
The much-awaited World Chain is all set to be launched in the upcoming summer and will function as a layer-2 network on Ethereum. With its prime goal to accelerate the adoption of World ID, the World Chain has mentioned in its official blog that “World Chain is designed to significantly enhance capacity, enabling seamless scalability for new users and ensuring faster, more cost-effective, and reliable transactions”.
Priority to User Experience and Community Engagement
The seamless blockchain integration with the Worldcoin protocol welcomes all stakeholders to extend their valuable participation. Nevertheless, in the due process of mitigating automated bots’ impact, the existing World ID holders will get priority blockspace allocation to ensure an impeccable experience for authentic users. Also, a consigned gas allowance will facilitate casual transactions.
Expanding User Base and Platform Growth
Worldcoin emerges as the largest application on the network, with a substantial user base representing nearly 44% of OP Mainnet’s activity. As the community expands rapidly, switching to a dedicated network becomes essential. The parent platform has gained over 10 million members from 160 countries in the nine months since it was launched. 5,010,140 users have employed the proprietary Orb technology to validate their World ID.
Traversing Regulatory Challenges
Despite its exponentially increasing popularity, regulatory hurdles have never been an exception in World Coin’s journey through numerous markets. Although it was prohibited in several jurisdictions, Germany is an anomaly that poses no restrictions in gathering biometric details.
Certainly, World Coin stepping into the blockchain space typically marks an evolutionary move towards decentralized governance and community-driven innovation. The project is geared to lead the world of blockchain technology to a redefined sphere with its undeterred commitment to user experience and technological innovations.
