As the key entrance to the Crypto/Web3 ecosystem, wallets have always been the focus of competition among entrepreneurial teams. In addition to wallet products that support new public chains, there are also many teams hoping to completely improve the MetaMask experience (such as Rabby). While the wallet team is still focusing on account abstraction, the narrative of higher-dimensional chain abstraction has gradually attracted the attention of the community.
Co-founder of NEARIllia PolosukhinNot long agoWrite an articleExplore the concept of chain abstraction and demonstrate NEARs vision for implementing chain abstraction. In addition, the mainnet was launched last monthZetaChain, Modular L1Particle Network, full chain ledgerCycle NetworkOther projects are exploring the realization of chain abstraction.
Why is chain abstraction important?
Think about a question, why is the product user experience and the number of users of Web3 far lower than that of Web2? One of the important reasons is that users of many projects now need to understand various principles and concepts, and everyone has seen the rapid development of Web3. New narratives and new concepts are emerging one after another. Even Web3 veteran players will have the problem that hot spots change too fast and it is too troublesome to learn. a feeling of.
To give a simple example, the cross-chain bridge protocol first requires users to understand that the assets between them cannot be interoperable, so such a bridge protocol is needed to realize the transfer of assets between different chains. Secondly, they must understand that if they want to transfer assets from Ethereum to Solana, you need to pay ETH as gas fee, not SOL. I just want to use 100 USDT on Ethereum to buy NFT in the Solana ecosystem. Why is it so troublesome?
In contrast, Web2s products are almost all packaged, and users do not need to know the principles or who is working with whom behind them. According to the logic of Web2 product experience, if I want to buy NFT in the Solana ecosystem, I just need to log in to my wallet on the NFT project interface and buy it directly with 100 USDT in my wallet. In the end, I only need to know how much money is left in my wallet and whether the NFT has arrived. Thats it.
Chain abstraction abstracts the differences and complexities between different blockchains into a unified interface, allowing users and developers to interact and operate seamlessly on different chains. The ultimate goal is to make users unaware of the chain. existence, while enjoying the benefits of blockchain decentralization. Combined with intention, the user experience will be smoother. Imagine that users only need to have enough assets, no matter what token is on which chain, they can trade however they want, and can set the time point and conditions of the transaction, while ensuring that the transaction is safe, private, and complete. Controlled by oneself.
Step-by-step implementation of chain abstraction
In the current multi-chain environment, not only the user experience becomes complex, but also liquidity is dispersed, which hinders the large-scale adoption of blockchain technology. An effective way to integrate liquidity is to establish an independent platform that provides a unified interface that can interoperate, that is, a platform that implements chain abstraction.
Particle Network is such an L1 that provides a chain abstraction SDK. It abstracts accounts, gas and liquidity to create an open network access layer that is imperceptible to users behind the dapp:
Universal Accounts: Users can use the same account on different chains for transactions and operations. The parent contract controls AA accounts on more than 50 chains and connects the account addresses, making package transactions faster and cross-chain faster (within 5 seconds). In addition, this also means releasing more application scenarios, such as omnichain’s stable currency.
Universal Gas Token (Universal Gas Token): The universal Gas Token (SPARTI) is introduced, and users can use this token to pay transaction fees on different chains. There is no need to hold specific Gas tokens on each chain, reducing the cost and complexity of cross-chain transactions. In addition, Particle Network has integrated EigenLayer to enhance the security of the network by double pledging SPARTI tokens and Ethereum.
Universal Liquidity: Aggregates liquidity on different chains by implementing liquidity abstraction. For example, use USDT to buy BTC in the Bitcoin ecosystem. Particle Network acts as a liquidity aggregation protocol and supports cross-chain atomic transaction execution.
The underlying architecture of Particle Network uses the Cosmos SDK and ensures the security of the network through the CometBFT consensus engine. This modular underlying architecture allows Particle Network to be flexibly expanded and customized to meet the needs of different application scenarios. In addition, Particle Network adopts aggregated DA, which does not depend on a certain party (such as Celestia or EigenDA) and enhances data availability by storing copies of data in multiple places.
Chain abstraction prepares for application explosion
The era of multi-chain also means the era of multi-layered matryoshka dolls (rollups). In this context, chain abstraction is like a prism that aggregates multiple beams of light into one, unifying multiple chains to solve the problem of high entry barriers, Educating users on issues such as difficulties avoids the need for users to deal with multiple accounts, network switching, handling fees and other operations that affect the experience. As more and more projects and technical teams join in the construction of chain abstraction, we expect chain abstraction to become a key driving force in promoting the development of the Web3 ecosystem and bring a more unified, convenient and secure user experience to Web3. Facilitate the process of mainstream adoption.
