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CM|Jan 22, 2025 08:06
Invited to experience the latest version of the chain abstraction platform UniversalX V2 by @ ParticleNtwrk, some information I noticed:
1. No private key account, use a bound social account/wallet signature to control a "universal account", and set 2FA and payment password.
2. Seamless call of full chain assets, A chain can purchase assets on B chain, and even A+B chain asset combinations can be used to purchase C chain assets.
3. The overall experience is close to the CEX level and is under the premise of non hosting.
Here is the core of the two-point chain abstraction
-Full chain liquidity
-Account abstraction
Deposit funds from various chains into a 'universal account', and then automatically aggregate assets from multiple chains during trading to ultimately complete the transaction. For example, in the figure, using a combination of SOL on the Solana chain and ETH on Ethereum to purchase TRUMP is almost imperceptible on the user side, without the need to touch the underlying cross blockchain Swap process.
In addition, let's focus on explaining the selfless key design. Essentially, this design does not mean that there is no private key at all. Instead, the private key is sharded and stored in multiple nodes or modules through distributed storage. When users need to sign, the system dynamically collaborates through encryption protocols to generate signatures without exposing the complete private key to any party.
Simply put, on the user side, it means transferring the control of assets from the private key to the user's bound social account/wallet responsible for signing. Although the experience of depositing/withdrawing from a "general account" is similar to that of CEX, it is completely on chain behavior, and the control of your assets still belongs to you, which is non custodial.
Future chain abstract products will greatly reduce the threshold for new users to enter the chain, and this ease of use is already comparable to that of CEX.
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