Xion Unveils Blockchain Solution Based on ‘Generalized Abstraction’

Developers of the Xion platform, which uses USDC by default as the payment instrument, launched a testnet focused on ‘generalized abstraction’ — an infrastructure solution designed to simplify user interaction with Web3. The The Block reports.

The technology does not entail the direct use of accounts, signatures, and other processes typical of interacting with crypto assets. Users can operate the network using Web 2.0 methods such as email and the Passkey technology.

Xion’s main use cases are payments, social networks, games, and web subscriptions. The team plans to launch the mainnet next year. The developers also published a whitepaper describing the features of the new solution. The technology constitutes an ‘expanded version’ абстракции учетной записи, which envisions wallets based on smart contracts and opens broad possibilities to improve the user experience.

“Web3 still entails a steep learning curve and deters users who have to learn to manage wallets, securely store seed phrases, and send transactions to hexadecimal addresses. Generalized abstraction is a step beyond account abstraction, as we strive to simplify all aspects of using the blockchain,” said the pseudonymous Burnt CEO and founder Banksy Bernt, who is also a developer of Xion.

The testnet is built on the Comet BFT framework and the Cosmos SDK. The latter is a popular toolkit for developers involved in Injective, Osmosis, and the dYdX Chain.

In October, representatives of the Xion project announced that after the mainnet launch the solution would be used by an ecosystem of more than 75 project partners.

Burnt has raised $11 million from Animoca Brands, Circle Ventures, Multicoin, HashKey, Valor.

Earlier Ethereum co-founder Vitalik Buterin expressed his view that account abstraction can protect users’ accounts from quantum computers.