Burnt Research Draft-Release, December 7, 2023

Abstract

In the realm of blockchain technology, user experience (UX) has been a constant challenge. Burnt introduces XION, the Generalized Abstraction layer, a groundbreaking protocol-level innovation. XION ensures secure, intuitive, and seamless experiences through protocol-level implementations, including abstracted accounts, signatures, fees, interoperability, and more. This article dives deep into XION's modular design, signature-agnostic infrastructure, parameterized fee layer, and abstracted interoperability, ushering in a user-centric blockchain era.

1 Introduction

The adoption of blockchain technology has been hindered by complex technical challenges, resulting in high user drop-offs. XION aims to bridge this gap by introducing Generalized Abstraction, a solution that simplifies interactions, lowers entry thresholds, and retains the decentralized ethos of blockchain.

2 Background

XION's Foundation on Externally Owned Accounts (EOAs) and Smart Contract Accounts (SCAs)

Traditional blockchains operate with two types of accounts: EOAs and SCAs. EOAs, based on asymmetric cryptography, have limitations. XION leverages account abstraction to enable SCAs to initiate transactions, overcoming the drawbacks of EOAs.

3 Generalized Abstraction

3.1 Protocol-Level Account Abstraction: Meta Accounts

XION pioneers meta accounts, decoupling private-public key models and enabling intuitive user interfaces. With key features like key rotation, rule sets, diverse authentication methods, and multi-factor authentication, XION ensures a versatile and secure permission management system.

3.2 Signature Abstraction

XION's curve-agnostic implementation supports a wide array of cryptographic curves, making it future-proof. With dynamic signature verification and support for various curves like Secp256K1 and Ed25519, XION offers unparalleled flexibility for developers.

3.3 Device Abstraction

XION eliminates the need for users to manage private keys, ensuring device-agnostic interactions. Through familiar login methods, including email, social accounts, and biometrics, XION enhances accessibility across multiple devices.

3.4 Parameterized Fee Layer

XION introduces global fee abstraction, PlatformSend, and FeeGrant, allowing users to transact in any token. This fee layer simplifies fee handling, reduces friction, and enables seamless gasless experiences, supporting token-agnostic payments.

3.5 Token Minting Dynamics

XION's mint module innovatively uses accumulated fees to offset inflation, contributing to long-term network sustainability. Calculating inflation against staked tokens ensures a stable environment, attracting and retaining participants.

4 Abstracted Interoperability

XION's Seamless Cross-Chain Interaction

Abstracted interoperability allows XION users to perform actions on any connected chain seamlessly. Through package forwarding middleware, XION users manage multi-chain accounts with distinctive identifiers, addressing common challenges of account fragmentation.

5 Generalized Abstraction Applications

XION's Impact on Diverse Use-Cases

XION transforms digital banking, global messaging, creator economy platforms, gaming experiences, user-friendly DAOs, and decentralized cloud storage. Its abstracted interoperability extends possibilities for globally connected applications, decentralized marketplaces, cross-chain gaming, DAOs, and cross-chain identity verification systems.

6 Conclusion

XION's Generalized Abstraction redefines blockchain infrastructure, offering a user-centric paradigm. By simplifying interactions, reducing complexities, and ensuring seamless cross-chain experiences, XION propels the blockchain industry towards a new era of innovation and widespread adoption. With a multifaceted approach, XION presents a sustainable, flexible, and user-friendly future for blockchain technology. Stay tuned for the revolution that XION brings to the blockchain landscape.

#XION #Whitepaper #blockchain