Author: Kunal Goel, Messari Researcher; Translation: Jinse Finance xiaozou
Too many chains and too many rollups have brought two major problems to the crypto world: liquidity fragmentation and poor user experience.
1. Failed attempts
We have tried interoperability, cross-chain, multi-chain, etc., but none of them have worked. What’s worse, most of them have brought more fragmentation problems.
The answer to these problems is chain abstraction.
Chain abstraction is a holistic solution to the cryptocurrency fragmentation problem.
2. Why cross-chain and multi-chain failed, but chain abstraction may succeed
The most promising solutions note the mistakes of earlier solutions and create a trusted, neutral, unbiased infrastructure to reduce the likelihood of further exacerbation of the fragmentation problem.
Furthermore, the chain abstraction attempt is different in that it is recognized by Ethereum and its ecosystem. Ethereum’s rollup-centric vision is fragmented by design, so its large community/developer base recognizes the importance of providing a solution.
3. Bilateral Strategy
The fragmentation of funds and users must be addressed from both ends.
Bottom-up chain abstraction connects liquidity between different blockchains. The most promising project in this field is Polygon's AggLayer, which uses ZK proofs to provide unified bridging and shared liquidity. It can not only solve the liquidity problem within Polygon, but also solve the liquidity problem between different L2s and even alt-L1s.
Top-down chain abstraction is committed to improving the user experience. The most important solution is the master wallet that allows users to trade across different chains. Some important projects worth paying attention to are: OneBalance, NEAR Protocol, Particle Network, etc.