Key Takeaways:
- Discover the potential of chain abstraction that aims to bring Web2-like user experiences to the Web3 space.
- Learn how different players are contributing to making Web3 feel less technical to common people.
- Analyze the prospects of building dApps using chain abstraction to empower the global Web3 market.
While Web3 technology has revolutionized the way we experience the digital world, it is not without some inherent flaws that tend to make it unappealing to the mainstream population. Web3 projects still focus on explicitly providing top-notch decentralization and security, while the Web2 counterparts emphasize offering extremely accessible applications. Experts believe that the concept of “Chain Abstraction” could accomplish the much-needed changeover for the Web3 space due to its revolutionary technological provisions that could seamlessly facilitate Web3 adoption among the masses. This blog will focus on this novel concept in-depth, along with insights on building dApps using chain abstraction infrastructure.
The Existing Problem with Web3 Technology
Although the Web3 space has gained a positive reputation for its decentralized nature and unparalleled efficiency, most Web3 solutions tend to forget the simpler aspects of digital experiences. Many applications based on Web3 technology offer complex experiences with the presence of multiple blockchains hindering the possibility of interoperable solutions.
- The current Web3 space focuses on tech-savvy maximalists who want the internet to be crudely decentralized, irrespective of the difficulties it may bring to user experience. This can be seen by the overwhelmingly technical processes needed to execute even simple crypto transfers.
- Although the existence of multiple blockchains with considerable traction creates the need for interoperability solutions, the existing bridging solutions to such requirements are too technical for one to handle. No one needs to know about the smart contract operations needed to exchange cryptos, or for that matter, even the blockchain they are on.
- In spite of intriguing visuals and endless promises, Web3’s struggle to captivate a massive part of the digitally exposed population is imminent, and most of the current efforts only seem to widen the gap. Even Web2 developers trying to instill aspects of decentralization find it tough to adopt this technology due to the immense technicalities involved.
Chain Abstraction: The Breakthrough Solution for Accessible Web3 Interfaces
The concept of chain abstraction aims to resolve the issues the current Web3 space faces, opening it to the majority of the global population. Although most Web3 wellwishers were keen to see such an approach come to fruition way earlier, the say of figures in crypto Twitter (currently X) has dominated. Things have started changing now, with accessible interfaces for Web3 dApps beginning to pop up slowly.
- Chain abstraction basically provides a standardized and unified layer for decentralized Web3 applications across blockchains, allowing them to interact efficiently without hassles. It also offers sufficient leeway for people to jump across Web3 dApps without explicitly witnessing the underlying technical intricacies, just like how we use digital apps in Web2.
- For now, this concept has been pioneered by the emerging layer-1 blockchain Near Protocol, which has built a solid foundation for developers (with both Web3 and Web2 backgrounds) to create accessible dApps of various genres across blockchains. The network’s highly efficient and less expensive nature means it can easily facilitate such large-scale operations effortlessly.
- As chain abstraction becomes a pathbreaking way to ease how the Web3 ecosystem works for users, it opens the door for both Web2 and Web3-native businesses and developers. By promoting high-end accessibility while ensuring top-notch decentralized experiences, the global Web3 adoption level is expected to skyrocket in the coming years.
Do You Want to Develop a dApp Using Chain Abstraction for Your Web3 Venture?
Near Protocol’s Approach to Chain Abstraction
As we had seen earlier, Near Protocol has mastered chain abstraction by creating a custom development environment that supports a wide range of building methods. The blockchain’s developers have created a tech stack that enables businesses to launch interoperable Web3 dApps seamlessly on their preferred network(s), which can include the Near Protocol and some of the EVM-compatible blockchains.
- Blockchain Operating System (BOS) is a novel environment that lets developers create decentralized front-ends for Web3 applications. Using this technology reduces the scope for cyber attacks in applications executed through loopholes in existing Web2 front-end interfaces. The main tools utilized here include Wallet Selector (allows people to use their Near wallet in a dApp) and NEAR API JS (A set of tools for dApps to interact with the Near RPC).
- Accounts and Identities in the Near ecosystem can be given human-readable names suffixed by the extension “.near.” Every user account is a smart contract with extensive functionalities (including interacting across blockchains) that are predefined beforehand. Users can even create sub-accounts that execute more specialized functions or hold specific information. These accounts come with keys for complete access and function calls that control the whole account and specific functions, respectively.
- Execution Environments on the Near Protocol’s chain abstraction tech stack enable developers to build dApps with boosted interoperability provisions. One can use either the Near Native environment to create applications using the Rust language or Near’s EVM Aurora, which works as an Ethereum Virtual Machine that finalizes transactions on the Near Protocol. Also, zkWASM, an execution environment built by Polygon Labs and Near Foundation, can be used if developers want to utilize the advantages of zero-knowledge proofs.
Benefits You Gain by Building dApps Using Chain Abstraction
Suppose you think of building dApps using chain abstraction. In that case, it can be the right option to go with, as it comes with a lot of phenomenal benefits for businesses, users, developers, and pretty much every Web3 enthusiast. With the apt technological approach using the Near Protocol’s new-age tech stacks, seamless dApps with great advantages for all stakeholders can be created.
- Seamless Web3 Onboarding becomes a reality with dApps built using chain abstraction stacks as they emphasize ease of use on top while maintaining decentralization at the foundational layer. Such provisions can ramp up the influx of new people into the Web3 space as accessible interfaces greet them in place of the more complex interfaces present earlier.
- Censorship Resistance can be effortlessly implemented in dApps working across blockchains as the primary tech stack is native to the Near Protocol that supports the notion. All front-end code created using Near’s BOS will be open-source, making it easy for developers to fork and launch platforms based on various niches.
- Decentralization and Security levels are bolstered as front-end interfaces are built using Near’s BOS, opening chances for brands and enterprises to explore the space without having to fear the prospects of breaches. Since all the code is open-source, programs can be viewed, audited, and verified through Near’s blockchain explorer, boosting security and robustness for Web3 ventures.
Conclusion
Henceforth, we have explored the pioneering concept of chain abstraction that opens chances for seamless interoperability between blockchains while keeping the technical elements under cover. With this concept grabbing eyeballs across the Web3 space, now could be the ideal time to start building dApps using chain abstraction to witness incredible commercial success. If you’re thinking of doing so, consider working with Blockchain App Factory – your go-to hub for creating novel dApps that prioritize accessibility, interoperability, and security. Connect with our experts now to frame the foundation of your new Web3 business!
