Blockchains, by nature, operate independently, each with its own rules, tokens, and infrastructure. This fragmentation makes cross-chain interaction complex and cumbersome. NEAR, a high-performance blockchain designed for scalability, ease of use, and security, solves this issue through Chain Abstraction. This innovative solution simplifies connecting decentralized apps and ecosystems across multiple blockchains, offering a seamless, efficient experience for both developers and users.
In this article, we’ll take a look at what Chain Abstraction is, how it works, and the core services that make it powerful: Chain Signatures, Multichain Gas Relayer, and more.
What is Chain Abstraction?
Chain Abstraction is a technology that facilitates interaction between multiple blockchains. Typically, each blockchain operates with its own set of rules, tokens, and infrastructure. Using multiple blockchains can get complicated if you need to set up different wallets, pay for transactions with different tokens, or transfer assets.
Chain Abstraction solves these problems by providing a single interface for users and developers. This means that you can interact with multiple blockchains without having to worry about the technical complexity of each one.
NEAR includes several key services in the Chain Abstraction:
- Chain Signatures. Enables cross-chain transactions without the need for bridges.
- Multichain Gas Relayer. Allows users to pay transaction fees across blockchains using a single token.
- FastAuth SDK. Simplifies user authentication across multiple blockchains.
- Rollup Data Availability. Ensures that off-chain data remains accessible and verifiable on-chain.
Next, we’ll talk about each of these services and explain how they simplify multi-chain interactions.
What problems does it tackle?
Chain Abstraction is a good helper for users and developers. Let’s look at the main things that will help you when interacting with multiple blockchains.
- Simplified user experience. Instead of navigating each blockchain’s complex rules and tokens, Chain Abstraction provides a user-friendly interface that makes interacting with multiple networks easier.
- Any dependence on bridges. This advantage helps avoid the delay, expense, and security risks of using bridges to transfer assets between blockchains. Chain Abstraction enables direct cross-chain transactions without third parties, improving speed and security.
- Optimized development. Developers no longer need to spend extra time integrating each blockchain separately. Chain Abstraction offers tools that simplify building multi-chain decentralized applications (dApps).
- Simple gas commission management. Instead of exchanging different tokens for transaction fees, Multichain Gas Relayer allows you to pay fees on one blockchain while working on another.
By solving these problems, Chain Abstraction makes multi-chain environments more user-friendly, secure, and accessible for developers and end users.
Chain Signatures
Chain Signatures is a technology that helps transfer information and assets between blockchains without bridges. These signatures allow different blockchains to trust each other’s transactions without needing a middleman, making everything more secure and efficient.
Chain Signatures use unique cryptographic methods to confirm actions across different blockchains. This means one blockchain can verify information from another without transferring assets to third parties. As a result, users can make transactions between different blockchains without worrying about the risks of using bridges.
Four Cases of Using Chain Signatures
Chain Signatures can be used to build a wide range of applications that leverage blockchain interoperability. Here are some examples:
- DeFi on Bitcoin (and other networks without smart contracts)
Chain signatures allow NEAR smart contracts to interact with assets on blockchains that do not have smart contract capabilities, such as Bitcoin. This enables the creation of DeFi applications such as lending platforms, swaps and wallets based on Bitcoin.
- Chain agnostic applications
Because Chain Signatures can verify transactions on any blockchain, developers can build applications that support all networks using a single smart contract. It allows for multi-chain decentralized exchanges (DEXs), lending protocols, oracles and derivatives that operate across networks.
- Multichain account abstraction
Chain signatures allow users to manage assets across multiple blockchains through a single NEAR account. They also give users access to keys, key rotation, and other abstraction features. In addition, users can use the Multichain Gas Relayer to pay transaction fees on any blockchain using the USDC Universal Token.
- Privacy programs
Chain signatures can also be used to encrypt information programmatically. This is particularly useful for privacy-oriented applications where information can be deciphered based on some asset or NFT ownership.
Multichain Gas Relayer
The Multichain Gas Relayer helps pay transaction fees when interacting with different blockchains. Usually, users need the native tokens of each blockchain to pay for transactions. For example, if you’re using Ethereum, you need ETH to cover gas fees, and if you’re using NEAR, you need NEAR tokens. This can become inconvenient when working across multiple blockchains.
The Multichain Gas Relayer solves this problem by allowing users to pay gas fees on one blockchain while performing transactions on another. This means you can pay for all your transactions, even across different blockchains, using one token. As a result, you could interact with a dApp on Ethereum but pay for the gas fees in NEAR. This option eliminates the need to hold multiple tokens for different networks.
FastAuth SDK
FastAuth SDK is a service that simplifies user authentication. With the FastAuth SDK, users can sign in to dApps across different blockchains using a single authentication method, similar to how you can sign in to multiple websites with a single social media account. This makes the process more secure and faster, as users don’t need to keep track of numerous private keys.
The FastAuth SDK provides developers with an easy way to integrate this feature into their dApps, resulting in a more user-friendly experience.
Rollup Data Availability
Rollup Data Availability is essential to ensure that off-chain transaction data remains accessible and verifiable on-chain. In blockchain systems, rollups are a type of Layer 2 scaling solution that allows many transactions to be processed off-chain, reducing the load on the main blockchain. But note, that for the system to remain secure and transparent, the data involved in these transactions must still be available for verification.
This feature allows anyone, including validators and users, to access and verify the transaction data when needed. Transparency helps to keep trust in the system, as it ensures that even though transactions are processed off-chain, the data is always available for auditing.
Last words
Chain Abstraction helps multiple blockchains interact with each other simultaneously. This opens up new possibilities for blockchain applications and ecosystems, whether it’s simplifying cross-chain transactions, gas payments, or user authentication.
This technology gives users convenience and mobility when working between networks, and developers can quickly create multi-threaded applications. These powerful tools and services make the future of multi-chain operations not only more accessible but also safer and more efficient.
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