# Growing Interest in Chain Abstraction as Blockchain Technology Evolves

As blockchain technology continues to advance, there is increasing interest in chain abstraction. Chain abstraction simplifies complex blockchain technology, making it more accessible for general users. This article delves into the concept of chain abstraction, its key examples, and future prospects.

# What is Chain Abstraction?

Chain abstraction is similar to the development of the Internet. While users can navigate various webpages with a few clicks after entering a website address, a browser engages in complex processes involving numerous protocols to communicate with servers and exchange data. Users, however, do not need to understand these processes to use the Internet easily. Likewise, blockchain abstraction allows users to utilize blockchain services without needing to grasp intricate blockchain addresses or transaction structures. Thanks to this abstraction, blockchain applications can be used intuitively, like sending emails or logging into social media, providing an environment where the general public can access and leverage blockchain more easily.

# Why is it Necessary?

Despite the continued evolution of blockchain applications, technical barriers to user experience persist. For instance, novice users may face asset loss risks if they fail to choose the correct network when purchasing NFTs or sending USDT. While seasoned cryptocurrency users find this process straightforward, beginners could see it as a significant barrier to re-entry.

To solve these issues and enhance usability, blockchain abstraction has been introduced. Vitalik Buterin, the founder of Ethereum, emphasized at BUIDL Asia in Korea, “The current ecosystem is inconvenient for users, and transitioning to a better ecosystem is a challenge that needs addressing. To improve convenience and security, account abstraction is essential.”

# The Mechanism

## Ethereum’s Account Abstraction

Ethereum, the world’s most popular smart contract platform, leads in abstraction technology. The Ethereum Improvement Proposal (ERC-4337) underpins this progress. ERC-4337 introduces account abstraction to simplify user experience, allowing users to use wallets like smart contracts without managing externally owned accounts or private keys. This provides advanced features such as multisignature wallets, social recovery options, and user-defined verification rules, enabling users to enhance their security settings independently. Additionally, ERC-4337 allows transaction fees to be paid in other tokens or even by third parties.

## Unified User Interface

Chain abstraction provides an integrated interface for various blockchain functions. Users can manage Ethereum-based NFTs and Bitcoin assets in one place without switching wallets. This approach helps non-expert users engage with blockchain technology easily within an intuitive and familiar environment.

## Cross-Chain Transactions

A critical function of chain abstraction is enabling seamless transactions across multiple blockchains. For instance, users should be able to swap tokens from Ethereum to Binance Smart Chain without a separate bridge. This is implemented through atomic swaps and cross-chain bridge technology, ensuring users can move assets easily across networks.

# Prominent Examples

## MetaMask Wallet

MetaMask is a prime example of blockchain abstraction, offering an intuitive interface that allows users to interact with blockchain without understanding complex cryptographic processes. This enables users to manage cryptocurrency and access various blockchain applications easily via a web browser.

## NEAR Protocol’s Email-Based Account Management

NEAR Protocol allows users to create and recover accounts using their email instead of complex wallet addresses. This feature significantly lowers the entry barrier for non-expert users to utilize blockchain wallets.

## Chainlink’s Real-Time Data Provision

Chainlink serves as middleware that connects blockchain smart contracts with external data, supplying real-time data to DeFi platforms. Its oracle network gathers information from various data sources and inputs it into smart contracts, enabling blockchain-based applications to utilize real-time external data.

## DeFi Protocols – ThorChain and AnySwap

ThorChain and AnySwap are DeFi protocols that facilitate token exchanges across different blockchains, allowing users to swap assets seamlessly without separate exchanges or bridges. These protocols streamline asset movement through atomic swaps and cross-chain bridge features.

## OpenSea – Cross-Chain NFT Platform

OpenSea, the world’s largest NFT marketplace, supports multiple blockchain protocols, enabling users to trade various blockchain-based NFTs and list artworks regardless of the network. This significantly enhances the accessibility and flexibility of the NFT market.

# Future Prospects

The market outlook for blockchain abstraction is highly positive. According to Fortune Business Insights, the chain abstraction market is expected to grow from $26.91 billion in 2024 to $1.879 trillion by 2034, with a compound annual growth rate (CAGR) of around 52.9%.

Future Market Insights projects that technological innovations and government investments in the U.S. and Asia will further accelerate this growth, predicting that abstraction will promote blockchain adoption among users and enterprises.