Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Sam Altman’s Worldcoin to launch World Chain Layer 2

Source Fxstreet

Worldcoin claims more than 10 million people across 160 countries have a World ID.
World ID-verified addresses would receive gas allowance and priority block space on World Chain.
World Chain would focus mainly on decentralized finance and identity apps as it targets summer launch.

Worldcoin (WLD) announced in a blog post on Wednesday that it would launch a Layer 2 network known as World Chain in the summer. Based on deep integration with the Worldcoin protocol, the new blockchain aims to leverage World ID to prioritize human transactions over bots.

Read more: Worldcoin Price Prediction: WLD holds $5.30 in hopes for a good reversal

Worldcoin to launch human-centric blockchain

Worldcoin has seen impressive growth since its launch nine months ago. Designed to help internet users privately prove their humanness by scanning their eyes with an orb, the project claimed to have garnered more than 10 million users across 160 countries.

However, Worldcoin transactions currently dominate most of the network activity on Optimism's OP Mainnet, and onboarding more users at this rate could affect efficiency and user experience. As a result, Worldcoin plans to launch its own Layer 2 chain called World Chain.

"World Chain is designed first and foremost to significantly increase capacity, so new people can continue to join at scale, and existing users can enjoy faster, cheaper and more reliable transactions," said Worldcoin in an official announcement.

Also read: Worldcoin to end personal data storage for its 4.5 million users to resolve privacy concerns

The statement said that World Chain aims to differentiate itself from the growing number of Ethereum L2s by prioritizing human transactions.

much like the rest of the internet, bad bots like airdrop farmers worsen many of the problems blockchains face today

people on world chain will have the option to anonymously verify their addresses as human with world id

fully delinked from their id, simply like a blue… pic.twitter.com/Y3xlcrTe0T
— tiago sada (@tiagosada) April 17, 2024

To incentivize address verification, the project would prioritize transactions from verified addresses and give them some free gas for casual transactions, said Tiago Sada, Worldcoin's Head of Operations. Gas fees would be in ETH and the WLD token.

According to the blog post, when it launches in the summer, World Chain will focus only on decentralized finance and identity applications.

Optimism also confirmed in a blog post that World Chain would be built using the OP stack and connect to the OP Superchain of several Optimism-based blockchains.

The announcement follows Worldcoin's regulatory struggles over biometric data privacy in Kenya, Spain and Portugal.

Read more: Worldcoin and Ordinals prices fail to get support from Coinbase listing of ORDI, WLD perpetual contracts

Since the announcement, WLD has posted gains, trading at $4.90, up 3.7% on the day. WLD's price movement has largely followed the news surrounding its cofounder, Sam Altman, and Open AI.

Worldcoin's announcement comes after OKX launched its XLayer L2 to the public Mainnet on Tuesday.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Meta's AI bill just hit $145 billion — and it issued a new share class to pay for it Meta reported record third-quarter revenue of $64.60 billion, up 26% from a year earlier, and raised full-year 2026 capital expenditure guidance to $135-145 billion from $130-145 billion. To fund that build-out without touching Mark Zuckerberg's voting control, the company announced a 2-for-1 stock split that hands every Class A holder a new non-voting Class C share. Here are the four lines that matter, the peer group that is being re-rated alongside it, and the bull and bear cases.

Author Irene Q.

Oct 22, Thu

Meta reported record third-quarter revenue of $64.60 billion, up 26% from a year earlier, and raised full-year 2026 capital expenditure guidance to $135-145 billion from $130-145 billion. To fund that build-out without touching Mark Zuckerberg's voting control, the company announced a 2-for-1 stock split that hands every Class A holder a new non-voting Class C share. Here are the four lines that matter, the peer group that is being re-rated alongside it, and the bull and bear cases.

The Fed will sit still on October 28 — but 100 of 100 economists now expect a December hike A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Author Irene Q.

Oct 22, Thu

A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Gold falls to two‑month low below $4,050 as oil spikes Gold price (XAU/USD) falls to the lowest in more than two months near $4,025 during the early Asian session on Friday. The precious metal faces some selling pressure as escalating tensions in the Middle East send oil surging ahead of a Federal Reserve (Fed) policy meeting.

Author FXStreet

Oct 23, Fri

Gold price (XAU/USD) falls to the lowest in more than two months near $4,025 during the early Asian session on Friday. The precious metal faces some selling pressure as escalating tensions in the Middle East send oil surging ahead of a Federal Reserve (Fed) policy meeting.

Nasdaq closes at 26,008.86 — 8.9 points above 26,000, and the credit market never blinked The Nasdaq Composite fell 2.60% to 26,008.86 on October 22, its worst session since June, as Meta sank 6.98% on 2026 capex guidance of $135–145 billion. But the equal-weight S&P 500 rose 0.73%, high-yield credit was flat and 10-year yields fell 20 basis points. This was an AI de-rating, not a risk-off event — here is the transmission chain, the 29,000 / 28,200 levels and what would prove it wrong.

Author Irene Q.

Oct 23, Fri

The Nasdaq Composite fell 2.60% to 26,008.86 on October 22, its worst session since June, as Meta sank 6.98% on 2026 capex guidance of $135–145 billion. But the equal-weight S&P 500 rose 0.73%, high-yield credit was flat and 10-year yields fell 20 basis points. This was an AI de-rating, not a risk-off event — here is the transmission chain, the 29,000 / 28,200 levels and what would prove it wrong.

Brent tops $113 on Saudi supply risk — but the diesel line in the EIA report is the tell Brent's December contract settled at $113.17 on October 22, up 4.00% and the highest close since May 4, after Saudi Arabia restricted refined-product shipments. The same session's EIA report showed crude stocks down 3.06 million barrels and gasoline down 2.95 million — but distillates built 1.68 million. That single line decides whether $113 holds: here are the data, the 108.8 / 114.0 / 119.3 levels and the two scenarios.

Author Irene Q.

Oct 23, Fri

Brent's December contract settled at $113.17 on October 22, up 4.00% and the highest close since May 4, after Saudi Arabia restricted refined-product shipments. The same session's EIA report showed crude stocks down 3.06 million barrels and gasoline down 2.95 million — but distillates built 1.68 million. That single line decides whether $113 holds: here are the data, the 108.8 / 114.0 / 119.3 levels and the two scenarios.

Popular Symbols