Solving Blockchain Fragmentation with Chain Abstraction
Fragmentation has been the longest-standing unsolved problem in the ecosystem.
Users are forced to manually bridge funds across chains, deal with different wallets, learn new ecosystems, and so on.
This all changes with chain abstraction 🧵👇
If you’re not familiar with chain abstraction, consider it a way to simplify interactions across chains, enabling users to utilize any product and asset, regardless of its underlying chain.
Users no longer need to manage multiple wallets or manually bridge across chains.
Here’s a more detailed thread to help you out -
https://x.com/Ruisnakes/status/1783829446731894808
You’re probably already aware of how daunting it is to navigate the complex world of blockchains and dApps, especially in a multi-chain environment.
Users often face fragmented experiences and cumbersome cross-chain solutions, like slow and unsafe bridges.
Major players in the space who are trying to solve these issues from different angles are @NEARProtocol, @SocketProtocol, @0xPolygon‘s AggLayer and @ParticleNtwrk
A few weeks ago, @ParticleNtwrk unveiled their vision of creating a Modular Layer 1 to power Chain Abstraction, existing as the central provider of account-level chain abstraction, solving the issues of user and liquidity fragmentation.
https://x.com/ParticleNtwrk/status/1770450282146590871
So, how does @ParticleNtwrk achieve Chain Abstraction?
Particle Network’s L1 provides three core functionalities for users, simplifying Web3 through:
Universal Liquidity - Allowing users to seamlessly interact with any chain using a central balance
Universal Accounts - Providing users with a single address, balance, and interaction point for the multi-chain Web3 ecosystem
Universal Gas - Allowing users to pay gas for cross-chain transactions with any token
In short:
Particle Network allows users to maintain one account, with one balance that can be used instantly across any chain –all while paying for gas using any token.
Particle’s Modular L1 is built with the @cosmos SDK, which makes it intrinsically modular and able to maintain sovereignty while outsourcing validation and data availability to specialized actors.
The project also introduces aggregated data availability (AggDA) by integrating @CelestiaOrg, @AvailProject DA, and @NEARProtocol DA.
AggDA combines the strengths of these solutions to boost the L1’s decentralization, scalability, and performance.
https://x.com/ParticleNtwrk/status/1787521492227432846
Use Cases
Thanks to the Chain Abstraction stack, Particle Network has unveiled an extensive array of new use cases, unifying UX & liquidity across all chains! ✨
Such examples include:
Empowering users to engage in perpetual trading on @0xMantle, covering gas costs through @cosmos
Allowing users to seamlessly purchase NFTs on @bnbchain using $MATIC on @0xPolygon with just one click.
Enabling users to trade memecoins on @solana by utilizing $ETH from @arbitrum for transactions.
What sets them apart?
@ParticleNtwrk is not just another brand new L1 in the space. They have already been building account abstraction and Web3 infrastructure tooling since 2022, improving UX for 17M+ users. The L1 they are building aims to coordinate actions on other chains to further simplify user experience.
The project is well-established and on track to become the leading example of chain abstraction.
Phase 1 of its Testnet achieved over 600K Universal Accounts and processed more than 13M transactions in under a week.
https://x.com/ParticleNtwrk/status/1788974696676864170
You can expect exciting times ahead in the world of blockchain with @ParticleNtwrk leading the charge in Chain Abstraction.
Their innovative solutions simplify Web3 interactions and bridge the gap between multiple chains, offering users seamless experiences.
Stay tuned for more updates and the upcoming launch of $PARTI token!