The most advanced user-facing technologies are those that remain unseen by consumers and end-users. Their widespread acceptance hinges on this hidden nature.
Consider the legacy internet, which has now reached over 5.4 billion users. Even Boomers, who spent most of their lives in the pre-internet era, make up 18.3% of U.S. internet users. This is thanks to the power of abstraction, which hides the technical complexities from the user experience. Users can make payments through their banking apps without understanding the inner workings of VISA or Mastercard, just like with AI-powered recommendations on platforms like Amazon and Netflix.
However, Web3 is struggling in this regard. Its user experience is complex and fragmented, with different wallets and tokens for different chains and limited interoperability. This, in turn, hinders efficiency and security for developers.
All of these are significant obstacles preventing Web3 from achieving widespread adoption. This is where Arcana Network comes in, pioneering a chain abstraction module to address the problem.
According to Arcana Co-Founder, Mayur Relekar, “Alongside our auth and gas fees abstractions, the latest chain abstraction module enables a fully-interoperable, user-friendly, and capital-efficient user experience, from onboarding to cross-chain transfers and everything in between.”
The pain points of fragmentation are evident in the fact that roughly 4.2 million daily Unique Active Wallets (dUAWs) interacted with dApps at the close of 2023, a number that rose to 10.4 million in June 2024. While this may seem like a positive sign, a closer look reveals a fragmented reality.
With users scattered across 150+ blockchains and a rapid expansion of Layer-2s, Layer-3s, and Sidechains, the situation is worsening. Users need various assets/tokens to interact with different protocols or projects, even within the same ecosystem. This leads to cross-chain asset transfers being a hassle for potential users and a daily pain for power users.
Arcana’s solution aims to defragment Web3 with chain abstraction, ensuring that users can focus solely on the dApp they are using and the outcome they are seeking, without worrying about the underlying technical details.
By simplifying user and liquidity fragmentation and optimizing capital efficiency, Arcana’s solution aims to provide a seamless Web3 future, empowering users and making their experience better and easier.