World App Records Over 500K Transactions in a Single Day

World App Records Over 500K Transactions in a Single Day

Key Insights

  • World App, associated with the Worldcoin project, achieved a historic milestone by processing over 500k transactions within a single day.
  • Developers implement advanced techniques such as batching and compression to reduce gas fees and optimize transaction processing.
  • Worldcoin subsidizes all gas fees for World App users, significantly slashing expenses and lightening the load on the Optimism network.

In a bid to enhance scalability and cost-efficiency, the developers behind the Worldcoin project have rolled out a groundbreaking update for the World App wallet.

This significant development incorporates a series of innovative techniques, including batching and compression, aimed at reducing the burden of layer 1 (L1) gas fees.

Worldcoin has made substantial strides in trimming fee-related expenses, with the project now subsidizing all gas fees for World App users. Furthermore, this update has lightened the load on Optimism by a staggering two-thirds.

According to the information from the project developers, since the release of this game-changing update, World App has seen an extraordinary surge in its daily transaction volume, surpassing an impressive 500,000 transactions in a single day.

Reducing gas fees and subsidizing user costs

Breaking down the cost structure of World App transactions, it becomes evident that 90% of the expenses are attributed to L1 gas fees on the Ethereum network, with the remaining 10% allocated to L2 gas fees on Optimism. Crucially, the lion’s share of these costs is determined by the size of the transactions, rather than their specific functions.

One of the ingenious optimizations employed by World App is the utilization of the Safe framework for all user accounts. While this does introduce some transaction overhead, it facilitates optimizations that render transactions cost-effective at scale.

Read also! How to buy Worldcoin – A step-by-step guide

A standout technique involves the integration of MultiCall contracts, allowing the consolidation of results from multiple contract constant function calls and the spreading of fixed overhead across multiple transactions.

Remarkably, this approach alone results in savings of up to one-third of the overall cost, particularly when dealing with sufficiently large batches.

The size of these batches is determined by transaction rates and two key parameters: the maximum batch size and maximum delay.

Incoming transactions are queued, and once the queue reaches either the maximum batch size or the oldest transaction reaches maximum delay, the batch is promptly submitted. This method is highly versatile and adaptable to any Safe transaction.

Worldcoin Groth16 verifier

Moreover, to further reduce transaction size, the Worldcoin project’s developers have introduced compression techniques based on the price differential between L1 and L2. These compression algorithms are executed within L2, enhancing efficiency.

A notable optimization method entails compressing Groth16 proofs, which involves modifying the Golang contract template of the Groth16 proof verifier in the gnark library. This modification optimizes the verifier for both L1 and L2 gas consumption, contributing to substantial gas savings.

Read also! What Could Go Wrong with Worldcoin? Examining the Risks

Crucially, Worldcoin’s Groth16 verifier underwent a rigorous audit by Least Authority, a globally recognized team of security consultants dedicated to fostering the development of secure and ethical technology solutions. Their comprehensive findings and assessments are readily accessible to the public.

Samson Ononeme

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