Author: Ash
Compiled by: TechFlow
Everyone has experienced this:
a) A shiny new coin is launched on a new chain
b) Desperately researching which cross-chain bridge to use
c) Pray that the cross-chain bridge can transmit transactions smoothly
d) When other assets are bridged, the shiny new coin is no longer shiny
Or remember all those times when there were stablecoins on-chain but no gas fees to do any transactions?
Next I’d like to share why chain abstraction is so important and a project that I think is leading the way: @ParticleNtwrk.
Importance of chain abstraction:
Today, there are hundreds of chains in the industry, although there may be thousands in the future as L2 and L3 chains become easier to launch; but most of these chains are fragmented and isolated.
The dream of chain abstraction is simple: to interact with dApps on any chain without having to manually cross chains. In simple terms, it is to be able to trade across chains as if all chains were unified into one.
Crypto dApps should be able to be used directly without having to fiddle with wallet A, chain B, and gas C.
@ParticleNtwrk will solve this fragmentation problem by implementing chain abstraction, allowing each dApp to use a single balance.
Three core functions provided to users:
Universal liquidity
General Account
General gas
Imagine using any wallet to leverage a single balance across hundreds of chains; this is the user experience enabled by the above core features. , each of which is easy to understand.
Universal liquidity
Unified cross-chain liquidity. They can interact with new chains seamlessly even if they have never explored that chain before (remember the cross-chain bridge analogy).
General Account
Single point of interaction across all chains, with a single address and balance — no manual cross-chain movement required.
@Rabby_io and @DeBankDeFi are pioneers in visualizing EVM assets in a single view, but imagine taking this to the next level and using your balances on any chain without having to cross chains.
General gas
Allows gas fees to be paid with any token on any chain. No need to hold a different token for each chain to pay gas fees.
Key Highlights
Extensive partner network (infrastructure, 60+ chains, 900+ dApps).
Testnet Phase 1 had over 600,000 general accounts in less than 1 week.
Example
Here are some of the use cases I explored that were critical to my quick understanding of how this would impact our on-chain interactions.
Unified Balance
At any given time, my balance is usually spread across various chains (e.g. a $10K balance unevenly spread across Eth, Arbi, Sol, etc).
Chain abstraction means that I will see and use a total balance of $10K.
Gas Replenishment
dApps like @gasdotzip make it easy to onboard new chains.
With chain abstraction, this may become a thing of the past, and any token on any chain can be used to pay gas fees.
How to try out the chain abstraction
Participate in Particle Network’s testnet: https://pioneer.particle.network/en
Deposit tokens from the testnet to get universal gas (USDG)
Check in daily and do some trading
Points will be used towards the upcoming $PARTI airdrop
cooperate
Chain abstraction will be one of the keys to driving mass adoption of cryptocurrency, so it’s not hard to see other teams dabbling in this space, each with their own insights and innovations.
@NEARProtocol ：https://pages.near.org/blog/why-chain-abstraction-is-the-next-frontier-for-web3/
@SocketProtocol ：https://mirror.xyz/0x6FD2bd90D50eDEe139103454116F252f6F5eC928/zePFPVi6oPI2o_Q6jDrGYn6SBVOGMybnFKQJ-DDVKqc
@0xPolygon 的AggLayer：https://polygon.technology/blog/aggregated-blockchains-a-new-thesis
Just as there were various modular DAs (@CelestiaOrg, @AvailProject and @eigen_da), it seems likely that the chain abstraction space will follow the same trend, with teams competing to become the market leader.
personal opinion
The problem statement is clear, chain abstraction is here to stay and teams are working hard to solve long-standing pain points for crypto users.
The core functionality (universal accounts/liquidity/gas fees) and use cases are easy to understand for most regular users, making it easier to get started in the industry.
Partnerships are growing rapidly and user interest is increasing at a similar rate.
With over $26.5M raised from top VCs (including @Signum_Capital), the team has ample funding to realize their vision and invest in community incentives as needed.
What's next?
As mentioned above, there are a number of competitors coming, which may bring a different set of problems (for example, balances on different chain abstraction projects may not be integrated with each other).
From a developer’s perspective, choosing a chain abstraction solution can also be challenging (to learn more read our blog post on the chain abstraction ecosystem).
The $PARTI token is coming soon and I’m excited to see what the token economics/flywheel mechanisms are.
Attached test network information:
Website: https://pioneer.particle.network/en
Testnet ETH (Sepolia): https://alchemy.com/faucets/ethereum-sepolia
Testnet USDC: https://faucet.circle.com
