ChainCatcher message, Ethereum co-founder Vitalik Buterin expressed his views on the development model of chain abstraction startups. In response to community users' concerns that "chain abstraction startups are creating new technological islands, posing challenges to interoperability," Vitalik stated: "We need to relearn the idea of undertaking important collective projects, rather than defaulting to 'startups' as the mode. Startups are not the right form to solve all problems."

ChainCatcher news, according to official sources, the ZK-driven interoperability protocol Union has announced its integration with the modular General Abstract Layer XION, bringing chain abstraction into the Union ecosystem. This will provide the growing list of connected chains in the Union network with XION's user-friendly features, reducing friction in the web3 user experience.With the integration of XION, all users on Union's connected chains will gain powerful new capabilities along with Union's fast, low-cost, and secure ZK-supported transaction and messaging functionalities.

ChainCatcher news, the modular universal abstraction layer XION announces integration with the blockchain network Sei, introducing Chain Abstraction technology for Sei's rapidly growing ecosystem.This integration will achieve seamless flow of native assets and accounts through the IBC protocol, creating new opportunities for cross-chain interoperability within the Sei network while expanding the coverage of XION's chain abstraction solutions.

ChainCatcher message, Particle Network announced that its Universal Accounts are set to launch soon. The launch plan is divided into two phases: the early access phase and the public testing phase. The public pre-registration for the early access phase is now open. The public testing phase will start in a few weeks, and approved users will be able to use the upgraded Universal Accounts, which support multiple mainnets and more new features.Particle Network stated that its testnet phase has achieved significant success, attracting 1.6 million users and completing over 200 million UA transactions, while collaborating with well-known public chains such as Arbitrum, Base, and Berachain for four rounds of joint testing. Additionally, the project has facilitated the establishment of the Chain Abstraction Coalition, which has over 60 participants. Particle Network believes that chain abstraction technology will be key to solving the difficulties of multi-chain navigation and is expected to drive rapid industry development.

ChainCatcher news, the Manta Foundation announced a strategic investment in the chain abstraction liquidity aggregation protocol Cycle Network, with the specific financing amount undisclosed. Other investors include Summer Ventures, Vertex Ventures, and others.Cycle Network has applied for the Manta Foundation's $50 million ecosystem fund. This investment aims to promote Web3 development, particularly in enhancing liquidity, cross-chain connectivity, and efficiency among ecosystems.It is reported that Cycle Network was selected for Binance Labs' seventh season incubation program in July this year.

ChainCatcher news, XION is integrating with MultiversX to introduce chain abstraction into the MultiversX ecosystem. This integration brings native assets across ecosystems and seamless flow of cross-chain accounts, addressing the issue of ecosystem fragmentation and unifying the user experience. It also allows builders to attract more users and liquidity within the high-speed, low-cost network of MultiversX.Additionally, this integration will enable developers to build custom L2 and application chains that can interoperate with XION's ecosystem-integrated chain network, unlocking cross-chain composability for applications and benefiting from fast, low-cost transactions, further accelerating the adoption of Web3.

ChainCatcher news, Klaster Protocol, Biconomy, and LI.FI have jointly launched a one-click chain abstraction user experience. By using the Klaster SDK, users can deploy their chain abstraction applications within 45 minutes.It is reported that AAVE's chain abstraction implementation means seamless interaction with AAVE deployments on five chains, while utilizing all available user balances across six chains without the need for bridging, switching chains, or managing gas.

ChainCatcher news, the chain abstraction intent engine Enso Finance announced on X that its token has been launched on CoinList.The auction will start on July 31, 2024, at 17:00 (UTC) and will end on August 7, 2024, at 17:00 (UTC).

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.