NEAR & Socket Unveil Game-Changing Framework to Make Crypto Consumer-Ready
Dubai, UAE, November 7th, 2024, Chainwire
Enabling Seamless, Web2-Like Experiences Across All Chains
Socket and NEAR Protocol are excited to announce the launch of the Chain Abstraction Framework for Consumer Apps, a groundbreaking solution designed to simplify chain interactions. The framework delivers web2-like simplicity by eliminating the fragmented and cumbersome user experience currently associated with web3 apps.
According to the team, today’s onchain experience is complicated: users have multiple wallets, pay expensive gas fees, and fragmented assets across various chains. Users want their apps to work seamlessly with any asset, without complex processes.
With this new framework, developers can provide one unified balance, frictionless transactions, and invisible blockchain infrastructure—removing gas fees, bridging complexities, and fragmented wallets.
This is key for consumer apps to thrive.
What is the Chain Abstraction Framework?
The Chain Abstraction Framework leverages NEAR and Socket to offer true chain abstraction. This enables:
- Users access all their assets in one place, regardless of the chain.
- Interact across EVM, non-EVM, L2s, L3s, and other alt L1s through a single wallet without requiring gas tokens or bridges.
- Empower developers to focus on user experience, not infrastructure.
Apps can now execute any multichain logic within their smart contracts on NEAR, enabling smooth transactions without worrying about asset location or crosschain complexities. More importantly, they can leverage the ability to spend the chain abstracted balance anywhere to unlock new use cases never done before.
With user balances enabled for transactions across any chain, the application can seamlessly operate on multiple chains. Apps can use various chains as their execution environments while hosting their multichain logic on NEAR. This setup allows apps to be present on one or multiple chains without the need for bridges, crosschain complexities, or other technical hurdles.
This opens the door to a new wave of applications with unprecedented functionality and scope such as chain abstracted wallets, DEXs, and more.
“The future belongs to apps that make web3 feel like magic. With NEAR and Socket’s Chain Abstraction Framework, users can interact with any app on any chain as if all assets were native to one system,” said Socket’s Cofounder, Rishabh.
Developer Resources & How to Get Started
The Chain Abstraction Framework opens up limitless opportunities for consumer apps to offer intuitive and frictionless web3 experiences. Developers can now build crosschain applications without worrying about infrastructure and gas fees.
Users that are interested in building with the Chain Abstraction Framework can contact them here: https://forms.gle/8hgm4miEyEcaBc8x5
About NEAR Protocol
NEAR powers a chain abstraction stack designed to help developers build apps that scale across billions of users and multiple blockchains.
To Learn more: https://near.org
About Socket Protocol
Socket Protocol is the industry’s first Chain Abstraction Protocol, providing a modular, composable stack to enable chain abstracted applications.
To Learn more: https://www.socket.tech