Web3Caff Research releases a report on the chain abstraction track: Discussing whether chain abstraction can become the ultimate milestone in the history of blockchain infrastructure development

2024-07-23 14:09:58
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ChainCatcher news, the Web3 industry research and analysis platform Web3Caff Research recently released an in-depth report on the chain abstraction track. The report points out that chain abstraction is an important concept in blockchain technology, combining the principles of abstraction in computer science with blockchain technology. It not only achieves cross-chain functionality between different blockchains but also addresses issues such as high gas fees, cross-chain transactions, and MEV through technological upgrades and account abstraction.

The report further indicates that the development of chain abstraction not only enhances the experience for developers and users but also brings new challenges to the business models of existing protocols and public chains. With the emergence of complex Web3 applications, a trend towards modular functionality is evident, and foundational service protocols face ToB business demands. The implementation of chain abstraction also reduces development costs, allowing more resources to be allocated to optimizing user experience and marketing, thereby promoting the development of multi-service applications. The competitive landscape of public chains is also changing due to chain abstraction. Users may not be able to directly understand the technical differences between different public chains but can perceive the differences through their usage experience. Some public chains enhance user experience by eliminating gas fees and other strategies, actively removing complex experience barriers as a growth strategy.

At the same time, the report also reveals the risks and challenges of this mechanism, such as technical complexity, security vulnerabilities, short-term user experience confusion, adjustments in business models, uncertain market acceptance, and increasingly stringent regulatory requirements. These factors need to be managed carefully to ensure long-term success and stable development.

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