Worldcoin Choses Alchemy to Help Create Its World Chain Ecosystem as "The Age of AI is Upon Us"
World Chain to offer some Worldcoin holders priority blockspace and free transactions
Worldcoin, the cryptocurrency meant to accompany OpenAI artificial intelligence products, has chosen Alchemy to create and support its new blockchain substrate.
Known as World Chain, the blockchain aims to prioritize human users over the bots that have come to dominate some aspects of on-chain activity. The web3 infrastructure provider Alchemy will give Word Chain developers access to its dev community and tools that are needed to build decentralized applications. Worldcoin, which has faced criticism over its personal data policies, will allow users to transact for free under certain circumstances on World Chain, according to a statement released today.
OpenAI co-founder Sam Altman founded Tools for Humanity in 2019, which developed the Worldcoin ecosystem. It scans the irises of users to create a World ID that serves as a proof-of-humanity and is rewarded with an amount of free Worldcoin, which bills itself as “a new, decentralized global currency that will be distributed fairly to as many people as possible.” Worldcoin says more than 10 million people have created a World ID, with 5.8 million of those having been verified.
Using the unique iris signature of a person is how the protocol says it can tell who is human on the Internet. It’s becoming increasingly difficult to make that distinction, Steven Smith, head of the Tools for Humanity protocol that helped develop Worldcoin, said in a recent interview.
“It’s very important to distinguish between human activity and activity by a bot,” he said. World ID holders will also get priority blockspace for the transactions that create the backbone of any blockchain. That could help solve the constant issue of competition for blockspace that drives up gas fees, he said.
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Because smart-contract based blockchains boil down to code, automated programs – or bots – can proliferate in certain areas like maximum extractable value (MEV) and airdrop allocations. Some bots are great, Smith said, but “the age of AI is upon us” and Worldcoin is working to provide human transactions “a higher level of service.”
No date has been set for World Chain being introduced but it’s understood it could go public later in the summer.