Chain Abstraction: What The Whole Fuss Is?
Chain abstraction aims to let people use Blockchain technology, without knowing the integration of Blockchain in performing any task. Considering this requirement of different applications, the NEAR Protocol allows developers to create and recover accounts of users by using their email addresses. The use of Chain abstraction also ensures that no funds are acquired from the users, and these developers can control the accounts of their users in other chains. In simple words, the seamless operations.
FastAuth:Simplified Email Onboarding:Creating a crypto wallet is no less than a fuss for the fresh Web3 developers. There are different steps performed during the wallet development this includes selecting a wallet, ensuring its safety by creating and storing a recovery phrase, and obtaining funds to initiate the wallet. The use of FastAuth from NEAR combats this and allows users to use their authentic email address to create an account on NEAR. Using the same email address, the users can access their accounts on different applications and devices.
Relayers: No Gas Fees for Users:Relayers can be described as a gateway for new users to use dApp without having the necessary funds. The in-built relayer system allows developers to arrange gas fees for their users. This process is also known as “Account Abstraction” on other chains. The “Account Abstraction” is a built-in feature in NEAR. By using the Account Abstraction feature, a relayer can forward these transactions to the network and cover execution fees. This makes the whole process simple and easy for users.
Multi-Chain Signatures: One Account for Multiple Chains:The existing blockchain system works in silos, allowing users to create individual accounts for each chain according to their requirements. The multi-chain signature service from NEAR allows users to use their NEAR account to communicate with multiple chains Ethereum, Binance Smart Chain, Avalanche, and NEAR. This removes the necessity for managing multiple accounts, making it easier for users and developers.
Chain Abstraction: Concluding the Whole Concept:The unification of all these services allows users to create a flawless experience for users using applications developed on blockchain platforms. The users can just log in with their active email ID and an account with zero balance will be created for them. There is no need to remember phrases, no need to keep private keys safe, nor need to acquire funds. Once their account gets active, apps allow users to create meta-transactions and forward them to any relayer.
This can be understood from the following example: Imagine a user collecting NFTs across multiple blockchains. With NEAR Protocol:
- The user logs in with their email
- A zero-fund NEAR account is created automatically.
- They interact with NFT platforms seamlessly, without creating separate accounts or acquiring crypto.
Conclusion: The use of NEAR Protocol eliminates the complexities of blockchain, allowing a smooth, intuitive experience where users don’t need to worry about gas fees, private keys, or cross-chain operations—all through a single, simple email login.
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