On October 10, 2024, World Chain registered only 22 active accounts.
Worldcoin stated that the mainnet would be available in the second half of 2024.
World Chain, the second layer (L2) network of Ethereum (ETH) created by Worldcoin, was launched in early July 2024 in its version devnet (developer network). After several months, it only has only 22 active accounts as of October 10.
That World Chain is operational as a devnet means that the developers of software they can experiment the functionalities, tools and capabilities of the chain before the launch of its mainnet (main network).
The number of active accounts had a slight increase during the last week of September, with Approximately 60 to 100 daily active accounts. Since October 5, those figures have fallen to the amount reported today.
The number of active accounts on World Chain is seen in the following graph, extracted from the website data on-chain of this network.
According to the data provided by the website of this network, from July to the present, accumulates a total of 1,258 accounts that executed at least one transaction.
Curious behavior in World Chain
On the other hand, one at least curious fact that emerges is the number of daily transactions and total transactions with respect to the number of active accounts since the devnet.
And on October 10, the day on which 22 active accounts were registered, at the same time the network completed almost 35 thousand transactions. That is, an average of almost 1,600 operations per account in a single day (considering the rarity that all of them had participated in the same way).
Furthermore, the average daily transactions were mostly close to 40,000, resulting in a total of more than 6,000,000 operations since the devnet is active.
A priori, the fact that the 1,285 total registered accounts have executed more than 6,000,000 transactions may sound like a lot. Therefore, there could be signs here that some of these accounts are using bots or smart contracts for automatically generate transactionswhich could explain the high volume.
Also, it should be mentioned that confirmations and block processing may not be working properly as this is a network in the testing phase for developers. World Chain has only been running since July, and it is normal for anomalies to occur and for the process of stabilization and regularization of a chain to be improved thanks to audits, updates and maintenance. The adjustment of its consensus mechanism also contributes to its security.
World Chain may not yet be optimized for large loads
On the other hand, the World Chain network experienced an increase in the number of new smart contracts during the last days of July and the beginning of August, which coincided with a increase in transaction fees.
At the moment, these commissions are paid in ether, token native to Ethereum, but in the future they could be paid with Worldcoin (WLD), the project’s native cryptocurrency. It is a token ERC-20 of the Ethereum mainnet.
Smart contracts can be complex and require more computational resources to execute. This can lead to increased competition for block space and therefore an increase in transaction fees.
So if the network is not optimized to handle a high volume of contracts, could suffer from congestion. This typically occurs when a network exceeds its processing capacity and leads to an increase in the fees that users pay to have their transactions processed.
In addition, it is also possible that the developers were testing the scalability of the network, which could include implementing new smart contracts and simulating a high volume of transactions to see how the load is handled.
After those last days of July and early August, the number of new smart contracts in World Chain dropped to previous levels close to 0in which it remains today.
In this way, Worldcoin, the company created by Sam Altman (co-founder of ChatGPT), which offers WLD in exchange for providing biometric data, does not seem to be captivating the developer community. This is perceived thanks to the low activity levels on-chain his devnet. It is necessary to take into account that participating as a World Chain developer is a formal process, which requires submitting an entry application.
Added to this, even they have not made official the launch of the main network, although they had announced that it would be ready for the second half of 2024, as reported by CriptoNoticias. Considering the proximity of the World Chain release, developer activity seems low.
