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Arcana is a pioneer in web3 accessibility with 100+ partners and 21,000+ SDK downloads, powered by its unique chain abstraction solution.
Arcana, a network committed to making web3 more accessible, consistently stands out with its tools that empower the developers of the future. With over a hundred partners and over 21,000 SDK downloads, Arcana has enabled the creation of over 2,000 applications.
One notable application is the chain abstraction solution, a user-centric protocol that eliminates the need to deal with multiple assets and gas fees across hundreds and thousands of blockchains.
So what sets Arcana’s Modular Layer-1 for abstraction apart from its peers in the space? What problems does it solve? Let’s investigate.
Addressing inefficiencies in UX, DevEx and capital
Arcana’s Modular Layer 1 is robust against the prevailing challenge of fragmented UX and liquidity, caused by the proliferation of chains and the presence of a dozen layers 2 and 3 in the EVM ecosystem, all competing for users and liquidity.
Fragmentation in UX leads to a cumbersome mix of efforts to accomplish even the simplest tasks. For example, experimenting with an app involves a combination of transfers, bridges, barter transactions, and new gas tokens. Arcana’s chain abstractions unify the UX, eliminating the need to swap or add chains and hold guest tokens for a specific chain.
Not only can the user spend this balance directly on any chain, but he can also use any wallet of his choice without having to learn about multiple wallets or a new wallet each time.
For developers, the proliferation of chains poses a different problem than for users. Chains compete to expand their user base and liquidity through various incentives, while apps compete for users by building clones of their apps in chains. This lack of interoperability, combined with the highly distributed design, leads to inefficient workflows and increased fragmentation.
The Arcana chain abstraction solution simplifies this for developers by giving them a setup where they don’t have to chase liquidity and users across chains. Nor do they have to deal with great efforts and great commitment to integration needs. They can choose chains based on technical and business requirements. Users on the receiving end of the service spectrum do not need to bridge and can use the app smoothly and seamlessly.
Finally, the chain abstraction solution also makes process capital and liquidity efficient by minimizing the gas and time spent bridging already available funds. Arcana’s approach prioritizes leveraging existing liquidity in the user’s target chain and performs netting before rebalancing to improve capital efficiency. It distributes profits to all stakeholders and generates real returns for all token holders and LPs/resolvers.
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Arcana’s modular layer 1: the highly supportive infrastructure
The benefits that Arcana’s chain abstraction offers in this busy ecosystem of L1s, L2s, L3s, Rollups, Appchains and Sidechains come from the structural qualities of the chain. These qualities come from a decentralized node network that is able to track and maintain the status of each user account and present the uniform user account balance across the chains.
The distributed key generation mechanism, where multiple nodes are responsible for creating and storing key shards, enables decentralization and ensures that there are no central points of failure. In addition, a multi-party computer system capable of performing conditional threshold checks ensures that the process is free from disruptions.
All in all, Arcana’s chain abstraction is a UX and DevEx efficient solution that helps maximize capital use and addresses the full user spectrum of web3 apps, supported chains and all types of wallets: a win-win for all possible stakeholders.
Read more: The IOTA Foundation’s Web3 solution chosen for the EU Blockchain Sandbox initiative
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