Worldcoin Foundation launches World Chain, a layer 2 Ethereum blockchain, to boost the adoption of its unique "World ID" verification system.

Worldcoin Foundation has announced the launch of World Chain, an Ethereum layer 2 blockchain set to debut in mid-2024. This move is geared towards accelerating the adoption of its innovative "World ID" verification system.

Worldcoin's "World ID" aims to combat the challenges posed by bots and deepfakes in the digital age. Users verify their identity by scanning their eyes with an Orb, converting the biometric image into a unique numerical code. This code, combined with an algorithm, confirms an individual's human identity, assigning them a World ID stored in the World App on their mobile device.

With over 10 million people from 160 countries already enrolled and 75 million transactions processed, Worldcoin has gained significant traction. The "World ID" functions as a digital passport, allowing users to authenticate themselves across various platforms, asserting their human status and distinguishing them from bots or AI systems. Users receive Worldcoin tokens as rewards for scanning, currently valued at around $5 each.

World Chain is designed to address these challenges by increasing network capacity, enabling seamless scalability for new users. While Ether remains the native token, Worldcoin tokens can be used to pay transaction fees. This ensures that verified users can immediately utilize their tokens within the chain's applications.