Global web3 adoption is difficult because:
- Web3 apps are difficult for new users to onboard onto.
- Web3 apps (especially on the user interface) are mostly not designed for non-tech-savvy users.
- Web3 apps require wallet creation, seed phrase download, constant change of wallet for interoperability, crypto purchase from exchanges for gas fees, and a lot more. Don’t forget that seed phrases force users to read the English language even when they are not English speakers.
Instagram for example, allows users to connect their Facebook account and sync user details with other apps like Thread.
The same can be said about using Google and other third-party app integrations like Paystack and Flutterwave which do not require their users to create new accounts and a lot more.
If web2 apps have so much ease of usage for first-time users with easy onboarding, then web3 apps need to be better to gain global adoption and onboard users from web2 to web3.
This is the kind of simplicity that web3 apps need to adopt and this is possible with Chain Abstraction.
Chain Abstraction, at its essence, is about creating a unified and standardized layer that allows seamless communication and interaction across various blockchain networks.
Chain Abstraction allows users to explore apps with web3 integration without knowing; allowing them to explore different blockchains and other third-party integrations without exiting the main app.
Let’s put it this way:
You open a gaming app on Solana and with a few clicks, you’re able to buy in-game assets on an Avalanche NFT marketplace using your funds on the Ethereum network, without leaving the gaming app; all happening without you knowing what Ethereum or Solana or Avalanche is.
This is the future of Web3 — Chain Abstraction.
Traditionally, developers encounter obstacles when attempting to integrate applications with multiple blockchains due to the unique features and structures of each network.
Chain Abstraction alleviates these challenges by providing a common interface that abstracts away the complexities of individual blockchains.
It enables developers to work with a standardized set of commands, protocols, and APIs, promoting interoperability and facilitating the creation of decentralized applications (dApps) that can run on multiple blockchains.
Yeah!
You’re wondering why we haven’t been using this already.
Chain Abstraction is a novel idea and Near Protocol aims to make this a reality in 2024.
This innovation aims to completely take away the complexity of web3 applications.
Among the emerging projects in the blockchain space, Near Protocol has emerged as a front-runner in implementing Chain Abstraction.
Near Protocol is designed to provide developers with a platform that offers scalable, secure, and user-friendly blockchain solutions.
Near is a low-cost, scalable, and usable layer-1 blockchain built for the open web, as an entry point for users to the internet.
With Near Protocol, you can seamlessly connect and navigate through different blockchain networks, making your entry into the decentralized world a breeze.
How?
Near Protocol developed the first Blockchain Operating System, a tech stack that allows developers to create, deploy, and store frontends in a secure and decentralized way, for any protocol on any chain.
Currently, NEAR and EVM-compatible chains including Ethereum, Arbitrum, and Polygon are supported, with more chains to come in the future.
Through BOS, NEAR serves as the driving force behind decentralized frontends for all Web 3.0 applications. Acting as a unified layer, it facilitates the secure storage, browsing, and exploration of various products, including decentralized exchanges (DEXs), money markets, NFT marketplaces, social networks, gaming platforms, and more.
This technological breakthrough, positions NEAR as the discovery layer for crypto users, akin to how Apple’s App Store functions as the app discovery hub for iPhone users. This integration makes NEAR an instrumental platform, enabling seamless exploration and utilization of diverse blockchain applications for users.
Decentralized Front-ends
NEAR introduces a unified user interface with BOS (Blockchain Operating System), simplifying the user experience across chains. This is an entry point for new users to web3 and reduces the risks of front-end cyberattacks as the codebase is stored on-chain.
For devs, once your contract is deployed, you will likely want to interact with it from a web front. Here are 2 tools you need:
Wallet Selector: Allows the user to use their NEAR wallet in your dApp.NEAR API JS: A suit of tools to interact with the NEAR RPC.
You can continue here.
Account and Identity
Near allows users to create a human-readable account that has a name attached to it like ini.near. Every account is a smart contract and can communicate on the blockchain and with other chains.
You can also create a sub-account(s).
With Near’s account aggregation, every account created on the Near blockchain has an account created on all connected chains instantly with one key. So there’s no need to create accounts or wallets on multiple chains.
Every account you create has two sets of keys:
- Full access key which gives total control of the account.
- Function call access key which gives access to a few functions like access to $20 payment or access to buying NFTs at a particular price.
With these access keys, users can give games, DeFi, Dexes, and any smart contract access to defined functions on that account.
Execution
NEAR offers multiple execution environments, including:
- NEAR native which allows developers to build apps using the native Rust language.
2. Near’s EVM Aurora, is the EVM deployed as a smart contract on NEAR — it is not a different blockchain. Aurora transactions are wrapped to become Near transactions and finalized on the Aurora contract on NEAR.
Gas is paid by a relayer that uses meta transactions to execute the contract on NEAR. Meta transactions allow users to interact with a blockchain network without paying transaction fees by providing a safe and secure route.
The security, settlement, data availability, and execution for Aurora are the same as for every other contract on NEAR thus, Aurora does less than a typical blockchain because it doesn’t have to worry about consensus, validators, storage, or any other blockchain-related duties.
3. The innovative zkWASM by Polygon Labs and NEAR Foundation who teamed up to develop a zero-knowledge (ZK) prover for Wasm blockchains to bridge the gap between Wasm-based chains and the Ethereum ecosystem.
The zkWasm prover will be a new runtime to generate zero-knowledge proofs that prove the native Wasm runtime execution is correct, which will result in better scalability and increased decentralization.
Near allows developers to explore Near development on a testnet, localnet, or workspace. Devs can read more here.
Data Availability
Near’s data availability (DA) is a game-changer, being 8000 times cheaper than Ethereum. It’s compatible with Polygon CDK, OP Stack, and more.
Near which is cheaper, is an efficient and robust data availability layer that simplifies and lowers costs in any Rollup Stack.
Read more about Near’s data availability here.
Settlement
Near’s ensures fast finality, reducing settlement times to mere seconds, and greatly enhancing efficiency.
Near’s payment allows your customers to use $NEAR tokens to pay for your goods and services. You can accept payments via one of the integration tools: plugins, invoices, API, subscriptions, or a virtual PoS terminal.
NEAR Protocol leverages its Nightshade sharding implementation to achieve massive transaction throughput of up to 100,000 transactions per second (TPS) while maintaining virtually zero transaction fees.
This allows businesses to process payments at great speed while catering to a large user base without compromising on performance.
By integrating $NEAR tokens as a payment method for your business, you enjoy instant borderless transactions with near-zero fees and speed.
Censorship Resistance with Open-Source Composability
Building frontends with Near’s BOS marks a paradigm shift, aligning frontend code with open-source principles by default. Developers can now access frontend code, forking it to create new applications, akin to the process in DeFi.
This democratization of code extends to multiple applications through Near’s BOS, fostering collaboration and code-sharing among developers, aligning them with the censorship-resistant nature of the NEAR protocol.
Seamless Onboarding to Web3
Navigating various blockchains, applications, infrastructure, and wallets can be intimidating for newcomers. Near’s BOS addresses the need for improved UI/UX.
Near’s BOS is a unifying layer, envisioning the development of all-in-one applications (“Super Apps”) that seamlessly integrate popular features like DEXs, NFT marketplaces, and liquidity staking protocols across diverse blockchains.
Decentralization and Security
The vulnerability of centralized points of failure has recently come to light with the $160k Frontend Attack on the Web3 platform, Galxe. Near’s Blockchain Operating System (BOS) changes this by ensuring that the code for Components is consistently on-chain.
This code is auditable, versioned, and viewable through explorers, with all component code securely stored on the NEAR blockchain. This approach significantly enhances security and robustness, providing not only strong uptime but also steadfast access guarantees.
Developer Experience
For developers, BOS offers a handy approach to prototyping and constructing front-end applications. This translates to a focus on coding without the hassle of establishing infrastructure or managing servers.
Near’s BOS fosters a unified platform for collaboration, code-sharing, and the creation of immutable components. Leveraging JavaScript and ReactJS, developers can dive in with minimal learning curves, unlocking a streamlined and efficient development experience.
Most of what you read may seem bogus but it is not. Let’s begin your Chain Abstraction journey now.
- Try out the Keypom Trial Account
Keypom Trial Accounts are like web3 gift cards. They are an exciting new opportunity for Web3 apps to seamlessly onboard users whether they’re completely new to crypto or degens.
With the click of a link, users require no software, wallet setup, or wallet connection, and are instantly signed into apps with their trial account, ready to make on-chain transactions.
With trial accounts, $NEAR is placed inside a smart contract deployed to the user’s account along with rules specified by the app developer when the account is created.
This news is republished from another source. You can check the original article here
