Web3 chain abstraction aims to unify user experience

Chain abstraction seeks to simplify blockchain technology and unify transactions across multiple networks, addressing Web3's fragmented landscape and complex user experience.

Anurag Arjun, co-founder of Avail (CRYPTO:AVAIL) and Polygon (CRYPTO:MATIC), raised concerns about the current chain abstraction methods, stating that they are exacerbating fragmentation in the crypto ecosystem.

According to Arjun, each blockchain base layer has unique security assumptions, which complicate interoperability between them.

"They have their own set of validators and their own crypto-economic security. So you have to create infrastructure called a light client, for example, bidirectional light clients. That is the main bottleneck in general," he explained.

Bridging between blockchain networks involves a complex, multi-step process, resulting in high costs and security risks. Arjun emphasised that this process leads to the siloing of users and capital into fragmented pools.

Previous approaches to interoperability, such as liquidity-driven bridging, have only added to the fragmentation.

These methods have also increased cybersecurity risks, as evidenced by the Wormhole Bridge hack in February 2022, in which $321 million was drained, marking one of the largest hacks in crypto history.

Chain abstraction refers to simplifying the user experience by hiding the technical blockchain details from the end user.

The goal is to provide a more seamless and unified blockchain experience.

One example of a chain abstraction solution is NEAR Protocol’s (CRYPTO:NEAR) Chain Signatures feature.

This allows users to sign transactions across multiple blockchain networks using a single wallet.

NEAR's solution has gained attention for its simplicity, with some considering it a potential future foundation for cross-chain interactions.

Arjun stressed that for true cross-chain interoperability to be achieved without fragmentation, the crypto space needs to adopt a more unified approach to blockchain technology.