Chain abstraction is NEAR’s way of making blockchain tech easier for users by disconnecting it from the user experience (UX). The aim is for users to engage with the technology without needing to know which specific blockchain they’re dealing with or even realizing they’re using one at all.
How Chain Abstraction Works?
Efficiency
Think about it this way: what if you could only send texts from one iPhone to another, but not to Android users? That would be super annoying and not very practical. The same goes for how users should be able to engage with decentralized applications (DApps) across various blockchains without facing unnecessary obstacles.
The idea behind chain abstraction is to simplify or mask the complicated parts of blockchain tech, so users can concentrate on the features and advantages of the DApps they’re using. For example, if Sarah wants to check out a new DApp called XYZ, she shouldn’t have to stress about which blockchain it’s on. All she really cares about is that it works smoothly and serves its purpose.
In a similar vein, millions of people hop online every day, but only a fraction really understands the tech that powers it. As long as everything runs smoothly and provides value, there’s no need for the average user to dive into the nitty-gritty technical stuff.
Transactions
Picture this: you’re using a DApp that makes it super easy to handle transactions across different networks and services. Take Sarah, for example. She opens the XYZ app on her phone, orders a coffee, and spots a sweet discount for her go-to clothing store. She grabs a pair of shoes and earns rewards that get stored as NFTs on Ethereum. Later on, she sees a special deal linked to her rewards and decides to buy tickets to an event, which are also NFTs, but this time on the BNB Smart Chain (BSC).
All of this can happen within one app, so Sarah doesn’t have to juggle multiple wallets, switch networks, or deal with transaction fees directly. This kind of seamless cross-chain interaction is what chain abstraction is all about.
Conclusion
Chain abstraction is all about making it easier to interact with various blockchain networks. The perks of this approach include breaking down liquidity barriers and making development a lot simpler. However, it does come with some hurdles like centralization, security concerns, and possible interoperability problems. Despite these challenges, it has the potential to lead to more user-friendly and interconnected blockchain environments.