Worldcoin, a Web3 project supported by OpenAI CEO Sam Altman,issued a document yesterday (17th) stating that it will launch its Layer 2 network World Chain based on Ethereum, aiming to create a block that integrates finance and identity verification. Chain Network, scheduled to launch this summer:
We firmly believe that a Layer 2 network should be a place for experimentation and innovation, and we are committed to making meaningful contributions, so we decided to launch the dedicated Layer 2 network World Chain.
Focus on improving Layer 2 network gas fees
World Coin officials stated that World Chain is a blockchain based on OP Stack and will first focus on scale. The short-term goal is to improve the Gas fee of the Layer 2 network:
Our immediate goal is to significantly adjust the Gas limit for Layer 2 blocks, and since this may come with risks, we are doing it in a safe manner and supporting this testing by studying worst-case scenarios.
In addition, WorldCoin officials revealed that further goals are to switch to op-reth and explore the data availability layer (DA).
Can it become a fuel for WLD currency price?
One thing that has long been questioned about Worldcoin is that it does not have much practical demand. In addition to achieving inclusive finance and continuous currency issuance in the future, how to maintain the value of the token has always been a big problem.
Now that it has launched its own L2 chain, we can see that the official is hoping to solve this problem. However, in the face of such fierce market competition, whether it can gain market favor remains to be seen.
Worldcoin releases Orb privacy and security audit report
On the other hand, since the birth of World Coin, although officials have repeatedly promised to protect users' privacy, it is still questioned by privacy advocates because it requires the hardware device Orb to scan the user's iris information to complete identity verification.
In this regard, Worldcoin officially released its Orb privacy and security audit report on March 14. The audit work was led by the network security company Trail of Bits. After a six-week review, the following conclusions were reached:
Our analysis did not find any vulnerabilities in the Orb code, and the relevant information in Worldcoin can be directly used:
1. For the default exit and registration process, Orb will not collect other personal information except the iris code.
2. For non-default exit and registration processes, Orb cannot decrypt the information stored on it.
3. Orb will not extract any sensitive data from the user’s phone
4. User’s iris information can be safely processed
WLD rose 4% in the past 24 hours
After the World Chain news was announced last night, the price of World Coin token WLD once rose from US$4.68 to nearly US$5.15. However, subsequent selling pressure emerged, and it soon fell back below $5, and was trading at $4.81 at the time of writing.
