In recent months, one term has caused a stir in the crypto world: Intent-Centricity. This concept is completely different from the traditional transaction-based model, introducing a more user-focused approach that is expected to revolutionize blockchain applications.
Intent-focused core:
Intent-centricity allows users to express their intentions in blockchain transactions. Instead of specifying every aspect of a transaction, users simply declare what they want to achieve. This allows users to outsource the task of transaction creation to a third party without completely giving up control of the counterparty.
Picture this: you're in a busy cryptocurrency market, rushing to exchange for the tokens you want. Often, this involves delving into the intricacies of a deal and carefully planning the best path, all while crossing your fingers for the best. Is it troublesome?
Now, intention-centered concepts make it easy. Just like holding a magic wand, you only need to clarify your intention (with or without specific conditions), and then the execution is completed by the off-chain service provider. You no longer need to worry about "how", just focus on "want to do it". do what".
Intent intent vs transaction:
To better understand this concept, we need to distinguish between traditional transactions and intentions.
trade:
Transactions clearly specify the steps and parameters for how to perform a specific action. For example, if you have WBTC, a transaction-based approach might require you to do this in exchange for the ETH you want:
“First, go to Pair A and exchange WBTC for USDT. Then, go to Pair B and exchange those USDT for ETH.”
Here, every step has clear details. You are responsible for operating between different trading pairs, giving necessary authorization approvals, and managing trading fees.
Intent intent:
Intentions, on the other hand, focus on the desired outcome, rather than the specific steps to achieve that outcome. If you were in the same situation - owning WBTC and wishing to earn ETH - you would simply declare:
"I have WBTC; I want to exchange it for ETH at the best rate."
You express what you want, not how to get it. The complexities of passing A and B trading pairs or any related protocols are managed by third party "Solvers Solution Providers". These Solvers solution providers are powered by smart contracts that translate your intentions into transactions that achieve your desired results, while potentially optimizing for factors such as fees or speed.
Privacy enhancements:
Privacy protection is a significant benefit of intent-centricity. Users have the right to decide for themselves which parts of their intentions remain private and which parts are made public. This feature provides individuals with independent control over their data, eliminating the one-size-fits-all privacy decisions typically imposed at the application level. Gone are the days of struggling with privacy or transparency.
However, using an intent-centric model does not completely circumvent privacy issues. Although you have more control, some underlying service providers may still have access to your information. There's always a chance that some party may snoop on your actions, even though you have greater autonomy over your data.
Composable intents:
One of the most compelling aspects of intent-centric architecture is its composability. Multiple users can express their intentions in the same application, allowing diverse intentions to coexist harmoniously. Whether you wish to trade ETH transparently, or another user chooses to conduct a private Bitcoin-ETH exchange, the system can easily accommodate both needs and more in the same application. This is similar to what CoW Swap solution providers are doing today, although they may not explicitly position themselves as intent-centric solutions.
Across a single blockchain:
Intent-centricity is not limited to a single blockchain; it is an architectural concept with broad applicability. For example, Ethereum is actively transitioning from transaction-centric to intent-centric interactions. Many intent-focused projects hope to become the base layer for other blockchains.
Key players in the intent-centric landscape:
Several prominent actors are actively building intent-centric architecture. Notably, Anoma is building an intent-centric blockchain, while Flashbot is developing SUAVE (Single Unified Auction for Value Expression) infrastructure.
The intent-centric vision sounds promising, but the key challenge is building the intent layer. Anoma and Flashbots are vying to become the defining intent layer of blockchain, through different approaches. Building this layer is no easy task, as it requires finding a balance between trusted commitment, decentralization, and privacy.
Account abstraction (AA) plays a crucial role in this intent-centric framework. One of its core features, such as enabling gas-free transactions, is a form of expressing intent. In other words, the user says "I want to pay in USDC" and the solution provider will help me convert it to ETH for payment.
Miner Extractable Value (MEV) poses an ongoing challenge in DeFi, with users often facing adverse outcomes due to miner or trader exploitation. Not limited to Ethereum, SUAVE is pioneering a multi-chain approach to mitigating the impact of MEV, particularly for swaps, staking, and other DeFi activities. It acts as a bridge to align user intent with the broader DeFi landscape, prioritizing user intent while protecting their interests. SUAVE represents a key step towards a more user-centric and equitable DeFi ecosystem, providing a promising solution to the MEV problem on multiple blockchain networks, thus harmoniously balancing MEV considerations , realization of user intentions and multi-chain compatibility.
Summarize:
Intent-centric represents a disruptive approach to blockchain interaction that prioritizes user intent and privacy. Although there are significant challenges in developing an intent layer, the potential benefits to blockchain applications and user experience are substantial. The convergence of intent-centric, SUAVE, account abstraction, and other solutions promises to increase mass adoption and decentralization in the crypto world, paving the way for a more friendly and inclusive future.
Finally, the original text is attached https://x.com/0xNalinz/status/1703712253911175658?s=20
Author of this article:
@0xNalinz | Nothing Research Analyst
