What Is The World Chain?

What Is World Chain?

World Chain is an innovative network built on Superchain technology, utilizing the full benefits of Optimism. It’s not just another blockchain — it offers high transaction speeds and low fees, making it a great choice for decentralized finance (DeFi) and smart contracts. At the center of this ecosystem is the Worldcoin token (WLD), which gives users access to a variety of platform services and supports a flexible economy within World Chain.

World Chain goes beyond traditional blockchain platforms. It integrates advanced technologies like World ID for unique user identification, embedded mini-apps for user convenience, and robust security at every step. The platform creates a space for new forms of interaction and monetization, making blockchain accessible and user-friendly for everyone, from everyday users to experienced developers.

World Chain joins the Superchain. Source: Worldcoin (X)

Identification in World Chain: How World ID Works

World ID is a digital identifier developed by the Worldcoin project (now known as World) to verify a user’s uniqueness and authenticity in the digital space. The goal of World ID is to provide reliable identification while maintaining user privacy and preventing fraud, especially important in an era of increasing AI influence.

How to Obtain a World ID:

1. Iris Scanning With the Orb Device: The user completes an iris scan through a specialized device called Orb, designed to securely and accurately collect biometric data.

2. Creating a Unique Identifier: Based on this biometric data, a unique digital identifier — World ID — is created to confirm that the user is a real and unique person.

3. Privacy Protection: Once the World ID is generated, all original biometric data is deleted, ensuring the protection of personal information. Worldcoin states that images of the iris are not stored after creating the identifier. This means that no third party will ever learn a user’s World ID, and, in particular, will not be able to track users across applications. It also ensures that using World ID is not linked to any biometric data or iris codes. When someone wants to prove they are a unique individual, they should be able to do so without disclosing any personal information about themselves.

The process of creating a World ID is centered around privacy protection, meaning users’ personal data remains secure, even with biometric identification in place.

High level overview of World Network and the connection between individual parts of World Network. Source: world.org

Differences Between World Chain and Other Blockchains

World Chain stands out among other blockchains due to its unique focus and technical solutions. Unlike most platforms, which focus on decentralized finance or application development, World Chain is dedicated to global digital identity and distinguishing real people from bots. Here are a few of its unique features:

• Layer 2 Blockchain: World Chain uses Superchain technology, allowing it to process transactions faster and with lower costs than the Ethereum mainnet.

• Decentralized Identification: World ID enables secure, unique user identification through biometrics, such as iris scanning.

• Priority Access to Network Resources: Verified users receive priority access to blockchain resources, helping maintain network stability even during high traffic.

• Low Transaction Fees: World Chain’s architecture minimizes costs, making transactions cheaper and more accessible than on traditional blockchains.

What Makes World Chain Unique?

World Chain is a blockchain designed with the needs of everyday users in mind. Its uniqueness lies in several key features that simplify interaction with the crypto ecosystem and make it accessible for everyone:

• No Fees for Verified Users: World Chain allows users with verified identities to transact without fees, making it more accessible and cost-effective.

• Mini-Apps in World App: World Chain enables third-party developers to create mini-apps embedded within the World App, giving access to a wide user base and creating revenue opportunities with WLD and USDC tokens.

• Ease of Use: Mini-apps make cryptocurrency transfers intuitive and straightforward, which is especially convenient for beginners.

• Protection Against Fake Accounts With World ID: World ID prevents the creation of fake accounts, ensuring each user is unique.

• WLD Token Airdrops for Verified Users: Every verified user receives WLD tokens, motivating active participation in the World Chain ecosystem and boosting audience engagement.

These features allow World Chain developers to create innovative applications and attract users worldwide.

Applications of World Chain

World Chain unlocks vast opportunities for users and developers. It enables the creation of decentralized applications that allow for easy and secure asset exchanges. The blockchain also offers innovative financial solutions, such as creating tokenized assets and managing smart contracts, opening new horizons for business and investment.

World Chain operates with two main types of tokens: the native WLD token and ERC-20 standard tokens. The primary WLD token supports the blockchain’s functionality by covering transaction fees and granting access to various network features. At the same time, ERC-20 token support expands the platform’s capabilities, enhancing its compatibility with other blockchains and providing additional possibilities for developers and users.

World Chain is a global network built for people, connecting users and developers worldwide. It provides access to financial services and innovative opportunities, creating space for new ideas and possibilities within the digital economy.