In the figure below, I have listed three concepts and projects, among which Particle is the only project that appears repeatedly in both the account abstraction and chain abstraction categories.
Of course, I donât know whether other projects actually do both of these things at the same time, but the Rootdata website only includes Particle.
Subtitle đïž
1. Beyond these [abstract] concepts, what is so cumbersome about current interactions?
2. Problems solved by chain abstraction
3. Chain abstraction solution provided by Particle
4. The significance of dual pledge design
5. Is Chainâs abstract narrative greater than Blinkâs narrative logic?
To have these two narratives, one of the following developmental states is required:
(1) It is a wallet that does account abstraction, and it is best to be multi-chain (account abstraction itself does not require multi-chain)
(2) It is a multi-chain and cross-chain protocol translation to make chain abstract narrative, while expanding the native account abstract wallet
Particle belongs to the former category. I first knew about it very early, about a year ago, and not directly, but through Myshell, an AI project that used Particle products.
At that time, I was very amazed by this AI project, and most of the surprise was due to the smooth experience that Particle brought me.
So that after that, I understood the concept of account abstraction and even chain abstraction.
Why account abstraction and chain abstraction are so important? I have actually talked about this several times recently. The most important reason is that the user interaction logic of Web3 itself is different from that of Web2. Even on the front end, it feels very cumbersome.
Let me give you an example of how complicated it is.
(1) Most of the new users of Web3 are expected to be brought by exchanges. This exchange is a "CEX" rather than a "DEX". Regardless of the purpose of the other party entering this industry, it must not understand the various interactions on the chain at the beginning. This is also a problem that centralized exchanges themselves solve for them.
(2) The first step is to log in. Whether it is logging in with a mobile phone number, email, or social account, it means that new users can smoothly enter Web3 in the existing system.
(3) Account abstraction is to solve this problem. At that time, Particle gave me this feeling: it can allow many Web2 users to enter Web3 very smoothly, because I used a Google account to create a Matic chain wallet (Myshell's Genesis NFT was on the Matic chain at that time)
Chain abstraction is a link after account abstraction, still in the above exampleđ»
(1) When new users entering the exchange see some industry news, or are influenced by the current general argument that "the market value of the exchange's token is relatively high, and the low-market value on the chain has great opportunities", they will inevitably learn about the transactions on the chain.
(2) If the exchange itself provides an easy-to-understand wallet function, then it is fine. But if not, it means that the user needs to explore how to enter the on-chain world on their own.
He needs to prepare some basic knowledgeđ»
(1) Which chain should I play on?
(2) How should I get there?
(3) What should I buy as GAS?
(4) What are the on-chain DEXs available for trading?
(5) How can I complete cross-chain interaction from chain A to chain B and then chain B to chain A?
These are the five basic problems that every on-chain user needs to solve, and the concept of chain abstraction solves them all.
In simple terms, the user's interactive experience is kept in the easy-to-understand front end, and the back-end operations of the interactions between various chains are simplified. The chain abstraction in an ideal state should solve the above five basic problems.
(1) I donât need to know which chain I need to go to separately. The front end of this application will have
(2) No matter which chain I hold GAS, I can directly interact with other target chain applications that I want to interact with.
There is intention involved here, but as I quoted in the title of the tweet, why these three concepts are said to be the last mile for on-chain applications to achieve exponential growth, these three narratives themselves are connected in series.
In the chain abstraction solution provided by Particle, basic universal GAS, full-chain liquidity and universal accounts can be realized.
Because I have indeed produced a lot of content on chain abstraction and account abstraction recently, so much so that a few days ago @TVBee said in my comment section: It seems that there are quite a few projects working on this track now.
I answered: In fact, multi-chain or cross-chain protocols can be used to translate this narrative
Among the chain abstraction categories I counted in the figure, Axler, layerzero and wormhole, known as the three giants of chain abstraction, are all very famous multi-chain protocols in the market. Their chain abstraction is actually just a parallel transition, and it is not a direct change of project tone.
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However, Particle takes a different translation route, because it was originally a head project vertically related to account abstraction, and it realizes rich multi-chain application scenarios on the backend through aggregation. Therefore, it itself also has a rich multi-chain foundation, but it originally focused on the field of account abstraction.
Currently, Particle supports more than 50 chains. Basically, the mainstream chains in the market have aggregated
It is also worth mentioning that in terms of chain security, Particle adopts a dual pledge system. In addition to the more traditional on-chain security of its own token anchoring, it also adds #BTCâ as a guarantee in the pledge system.
The dual-staking system means that at least the cost of attack (doing evil) will be higher, and it also means that this chain will be able to complete decentralization faster in the future (it also depends on whether the project team plans to delegate power).
Because when it goes online, you can borrow the industry's existing consensus assets as a security guarantee. Currently, with the recovery of the Bitcoin ecosystem, more and more protocols are beginning to use#BTCas collateral.
Let's take a simple example: the traditional strategic reserve is gold, then in Web3 it is #BTC. After all, the native token is like the money printed by the government itself, but Bitcoin is like gold, not only has a large base of people who recognize it, but also a constant total amount.
At the end of this article, let me expand on the question: Chain abstraction seems to be relatively neutral in terms of technical implementation, more complex than paradigms like Blinks but smaller than some major protocol innovations?
I think it is relatively large. In my opinion, chain abstraction is a leading trend concept. From what I have said above and in many previous articles, you can see what I want to express: account abstraction, intention and chain abstraction are the key to making it easier for users to achieve incremental growth on the application side.
Objectively speaking, the Particle mentioned in this article has all three narratives, which may also mean that this protocol will become a smooth entry point for incremental users in the future.
This smooth entry refers to the intermediate protocol from Web2 to Web3, just like an oracle
I never think that the relationship between Web2 and Web3 is either this or that. They are definitely two parallel development paths. In any node where Web3 has not been widely used but has local trends, there is still a long way to go.
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