Intro to Worldcoin
The Worldcoin project started on the premise of giving a token to every human on earth and creating a worldwide UBI project where the value created by AGI gets equitably distributed to all people across the globe. To achieve that scale in the far future, we are working towards onboarding the first billion people to crypto and solving Sybil resistance. We need scalable infrastructure to make these services accessible for all without compromising on network economic security and decentralization.
More than 870k people have signed up to the Worldcoin Beta App so far - with currently more than 69k weekly active users. Our infrastructure right now is mainly composed of our Privacy-Preserving Proof-of-Personhood Protocol called World Id (currently based on Semaphore) and a non-custodial Ethereum Wallet (more specifically, a Smart Contract Wallet that already sets the stage for future EIPs around account abstraction).
EIP4844 introduces a new kind of transaction type to Ethereum which accepts "blobs" of data to be persisted in the beacon node for a short period of time. Currently L2s like Optimism or Starknet post fraud or validity proofs to Ethereum calldata which is limited. As of now transactions with small amounts (<$10) are infeasible, especially in periods of high network demand (more on l2fees.info). After EIP4844 they would submit these proofs to blobspace which provides more storage and a separate fee market thus making fees on L2s a lot cheaper and allowing applications like Worldcoin to benefit from full Ethereum security for all of its users. You can learn more about L2s at L2Beat and The Complete Guide to Rollups by Delphi Digital.
In the past, we have built a new sequencer implementation of Hubble (a project originally started by the EF PSE team), which is an payment optimized optimistic rollup using BLS signature aggregation and custom transaction encoding. Although this leads to a massive throughput boost for transfers (<400 gas per transfer), this limits users to simple payments. However, they should be able to access the entire space of web3 applications and buy, sell, send and receive any token.
We are really excited to launch as early as possible on one (or many) of the EVM rollups out there. This will expose a new generation of web3 users to all the applications built in the Ethereum ecosystem and allow them to interact with DeFi, NFTs, games, and more!
To scale Ethereum, we looked at the intersection of our skillset and the bottlenecks that EIP4844 is facing and started contributing to the areas we think can move it forward:
- kzg-ceremony-sequencer implementation
- a KZG ceremony participant client
- support for cryptography libraries (ECC, KZG)
- coordination / pushing EIP forward in the community
We believe that Ethereum should prioritize scaling and coordinate to push EIP4844 forward in a timely manner. Our timeline estimation would be to get the EIP into the Capella/Shanghai hard fork unless a major setback happens. For more information on this Ethereum protocol change, check out the EIP4844.com website.