Chain abstraction could trigger the next transition in the crypto space and Web3 needed for mainstream adoption. Illia Polosukhin, co-founder of Near Protocol, said: He spoke in an interview with The Block at the BUIDL Asia Conference in Seoul, South Korea.
Chain abstraction involves application developers improving the end-user experience by defragmenting Web3's complex technical layers. This concept abstracts blockchain from the user experience. For example, on blockchain networks such as Near, users create and recover accounts using their email addresses instead of writing down complex seed phrases.
“The idea is that blockchain needs to be abstracted from users so that it doesn't become a barrier to entry or participation,” Poloskin said.
However, there may be some issues to consider. During a fireside chat at BUIDL, Ethereum creator Vitalik Buterin raised the potential problems with chain abstraction. As different chains become interconnected into larger ecosystems, there may be a systemic risk of “desensitization” to security issues.
Polosukhin acknowledged that end-user awareness of security risks in chain abstractions may further diminish, but the Web3 space is still expected to move toward more decentralized and secure systems.
“There are sophisticated counterparties that actually provide the liquidity and do the routing and all the work necessary to understand the layout and complexity of each chain. They are the ones taking care of it.” said Poloskin. “They're the ones who promote decentralization and security, but if they see something that says otherwise, they won't provide it.”
Buterin himself emphasized the importance of account abstraction. Account abstraction refers to hiding the more technical details of an on-chain application for user ease of use, while still focusing on providing both security and convenience. I am.
On Wednesday, the Near Foundation launched Chain Signatures, a protocol that allows users to sign transactions on third-party blockchains from a single Near account. Chain Signatures is running on Near's testnet, with a mainnet launch expected by his early May.
“We will see an increase in the use of non-custodial decentralized applications away from centralized exchanges,” said the Near founder. “A user will have access to everything in one place, multi-chain DEX, lending, interacting with NFTs, all kinds of experiences.”
Blockchain and AI
Meanwhile, Near's co-founder said blockchain technology could help prevent potential problems with the growth of artificial intelligence.
“AI will be used for malicious purposes. It's just an accident and there's nothing we can do to stop it,” Poloskin told The Block.That was the case last year report The US government said North Korea and other countries are considering using AI technology to create malicious software to enhance their illegal cyber activities.
“So what we can do is use encryption and blockchain to defend and provide some kind of content verification or content rating system to protect us,” said co-founder of Near. told The Block.
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