NEAR Protocol's Mission to Abstract Blockchain Tech: Explained

Stacy Muur explains NEAR Protocol’s mission to abstract blockchain technology through the concept of chain abstraction.
NEAR promotes chain abstraction through the use of Zero-Knowledge (ZK) proofs, the NEAR Blockchain Operating System (BOS), and NEAR DA (Data Availability).
NEAR’s chain abstraction efforts aim to make blockchain technology invisible to end users, enabling bridgeless cross-chain DeFi, trustless multichain deployments, and more.
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Since the generation of its genesis block four years ago, @NEARProtocol has undergone a significant transformation to become what it is today: the chain abstraction stack.
Here’s my simple explainer of NEAR’s mission to 𝙖𝙗𝙨𝙩𝙧𝙖𝙘𝙩 𝙗𝙡𝙤𝙘𝙠𝙘𝙝𝙖𝙞𝙣𝙨 ↓
We’ve been hearing the argument that the Web3 user experience is too complex to onboard mainstream users for a few years now.
I must admit that since I joined the Web3 grind in 2016, the UX has improved, but it still has a long way to go before it’s considered perfect.
One of the prevailing ideas in the Web3 space right now is the concept of “abstract everything.”
While account abstraction and an intent-centric approach are no longer novel in 2024, chain abstraction introduces a fresh perspective.
The concept of chain abstraction aims to make the blockchain tech invisible to end users, removing obstacles that hinder entry and participation.
To put it simply, the current state of Web3 is comparable to users of different mobile operators being unable to call each other.
However, with chain abstraction, users no longer care whether the guy they are calling or sending SMS to is using Orange, Vodafone, or Verizon.
How does NEAR promote chain abstraction?
First, ZK.
By using ZK proofs and a decentralized data layer, NEAR ensures that transactions are secure and interoperable across multiple chains. This tech enables assets to move safely between chains, further enhancing the fluidity.
Second, let’s talk about NEAR BOS (Blockchain Operating System).
BOS serves as a shared layer for browsing and discovering open web experiences. It is compatible with any blockchain and functions as a unified Web3 UI. In other words, it’s abstracting interfaces.
With FastAuth, BOS users can enjoy a straightforward and seamless Web2-style onboarding experience. Users can quickly get started by creating an account for any app on the BOS, without the requirement of crypto.
The upcoming release of FastAuth, scheduled for March 2024, will introduce mapping functionality for NEAR addresses to EVM, Bitcoin, and other addresses.
NEAR accounts will be able to sign transactions for other chains, enabling the emergence of multichain apps directly on NEAR.
Last but not least, NEAR DA (Data Availability) is a cornerstone of NEAR’s chain abstraction efforts.
It offers an efficient, cost-effective solution for Ethereum rollups and other applications, significantly reducing transaction fees and enabling scalable dApp development.
What are the use cases for this technology?
• Bridgeless cross-chain DeFi
• Apps on non-smart contract chains
• Trustless multichain deployments
• Advanced multi-chain accounts (similar to Fireblocks for end users)
• Privacy-focused apps
It is interesting to note that among the list of Top-10 dapps ranked by weekly active users, three of them (including the two most popular ones) are built on NEAR.
Take KAI-CHING, created by @Cosmose_, for instance.
It’s a superapp that combines shopping, watching, learning, and playing, providing users with an AI-powered personalized experience on the lock screen of their smartphones.
Another fascinating example of chain abstraction implementation can be seen with @EastBlue_io.
The concept behind EAST Blue is to enable 99% cheaper and faster $BTC transactions and enabling building consumer dApps on the Bitcoin network.
Want more? Check out @DapDapMeUp, a universal gateway into Ethereum L2s that aggregates over 100 Ethereum rollup dApps in one place.
They are launching on the mainnet in just one week (February 17th).
I’ve mentioned it many times before: NEAR has one of the strongest tech stacks across multiple L1s.
Their primary goal is to onboard the next billion users to Web3, and I must admit that they are closer to achieving this goal than ever before.
Read Original Article on Stacy Muur