Worldcoin, the controversial cryptocurrency project founded by OpenAI CEO Sam Altman, has announced that it will launch its own network.
Accordingly, Worldcoin announced that it will launch its own Layer 2 blockchain, called World Chain, later this summer.
In the statement, it was stated that the World Chain network will be secured by Ethereum (ETH) as L2 and will be designed for scalability with the Superchain ecosystem.
It was also stated that the network would not require permission, would be open source, and as a result, it was intended to be managed independently by the community.
“World Chain is a new blockchain network designed for people.
It will be open to everyone. Developers will be able to reach millions of real users around the world with applications that focus on benefits for daily life.
The network will be deeply integrated with the Worldcoin protocol to accelerate growth and leverage World ID's Proof of Identity. It will also be secured by Ethereum as L2 and designed for scalability with the Superchain ecosystem.
More importantly, it will not require permissions, will be open source, and will ultimately be independently managed by the community.
World Chain is expected to launch later this summer.”
Although WLD experienced an increase of more than 7% after the news, it gave back all of these gains with the general decline in Bitcoin (BTC) and altcoins.
Introducing World Chain, a new blockchain designed for humans ⚪️ pic.twitter.com/qNb7S3vqut
— Worldcoin (@worldcoin) April 17, 2024
*This is not investment advice.
