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Cryptocurrency News Articles
Arcana Network Pioneers Chain Abstraction Module to Solve Web3's UX Woes and Enable Internet-Scale Adoption
Jul 04, 2024 at 12:40 am
The best user-facing technologies are invisible to consumers and end-users. Their widespread adoption depends on this invisibility. Consider the legacy internet which now has over 5.4 billion users.
Web3 is still lagging behind the legacy internet in terms of user experience (UX). Its highly complicated and fragmented nature, with different wallets and assets/tokens for different chains and low native interoperability, makes it difficult for users to navigate and interact with dApps efficiently.
Developers also face similar issues, which undercut efficiency and security. These are critical factors stopping Web3 from achieving internet-scale adoption.
To address this problem, Arcana Network has pioneered a chain abstraction module. This module will enable users to interact with any dApp on any chain without holding any specific asset or token.
For example, someone with ETH in their wallet will be able to use a Solana or BSC-based dApp and will even see a unified balance for funds held on various chains and can spend it as they choose, where they choose.
According to Arcana Co-Founder, Mayur Relekar, “Alongside our auth and gas fees abstractions, the latest chain abstraction module enables a fully-interoperable, user-friendly, and capital-efficient user experience, from onboarding to cross-chain transfers and everything in between.”
This will also disrupt bridges and unlock native interoperability, leading to better capital efficiency.
For example, it will eliminate unnecessary bridging transactions by optimally using the destination chain’s liquidity.
Besides solving user and liquidity fragmentation — while optimizing capital efficiency — Arcana’s solution reduces friction for developers.
“Developers can build on any chain that best suits their app’s needs and business interests,” says Mayur.
notably, however, the framework enabling such defragmentation and UX simplification is highly complex and multi-layered.
It implements cutting-edge innovations like state machines to maintain user balances, Distributed Key Generation (DKG) for decentralization, and so on.
That end-users don’t get the slightest whiff of Arcana’s complex L1 architecture — unless they want to and read the open-source docs — is a proof of success.
It’s an example for projects aiming to onboard the next one billion users to Web3.
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