Ruby Protocol Leveling Up — From Account Abstraction to Chain Abstraction
Big News! Ruby Protocol Takes a Bold Step Forward!
We’re excited to announce a major transformation for Ruby Protocol! As of today, we’ve completed our front-end upgrade, officially transitioning from an Intent-Centric Account Abstraction Layer to an Intent-Centric Chain Abstraction Layer for Web3.
Mission Accomplished, Time for the Next Challenge
Ruby Protocol has consistently delivered on its initial mission as an Intent-Centric Account Abstraction Layer.
With over 334,931 email sign-ups and a thriving community of 112,737 active addresses on RubyOne, we’ve proven the success of our overall account abstraction strategies, including email & Web2 logins, social recovery, and gas sponsorship for blockchain accounts.
However, the blockchain landscape is constantly evolving, and it’s time to tackle a broader challenge: simplifying the overall user experience for both end-users and developers, and fostering wider Web3 adoption.
And here is how we do it.
Introducing Chain Abstraction: Beyond Account Abstraction
While Account Abstraction was a giant step forward, a bigger picture emerges when considering user expectations. Users don’t care about the complexities of backend infrastructure; they crave seamless experiences and intuitive products. This is where Chain Abstraction comes in.
Chain Abstraction is not just a theoretical concept; it’s a practical solution implemented through a set of tools and libraries. These tools and libraries enable developers to build applications that function seamlessly on various blockchains, abstracting the complexities of each specific blockchain.
It acts as a bridge, resolving chain connectivity and liquidity issues. By abstracting complexities like gas fees and managing interactions across different blockchain networks, chain abstraction empowers users to interact with Web3 seamlessly.
The Future is Chain-Agnostic & Abstract
Chain Abstraction represents a natural progression in the crypto space.
Similar to the smartphone revolution, where the complexities of underlying network infrastructure faded into the background, chain abstraction aims to make the user experience the sole focus.
Here’s how Ruby Protocol will build solutions for an interoperable future:
- Enhanced Account Abstraction: Building on our success, we’ll further refine email & Web2 login, social recovery, authentication methods, and relayer-sponsored gas fees. In addition, with the already-launched Asset Bridge, Ruby Protocol’s account abstraction method will empower users to create crypto accounts, store, send, and receive crypto at one go.
- Biometric Onboarding: We’ll integrate biometric logins (fingerprint and FaceID) to reduce onboarding friction further.
- $RUBY could be the future universal gas token for the digital asset ecosystem. Once the abstraction layer is live, developers can pay in whatever medium of exchange they want while converting it to $RUBY, boosting its value and offloading the burden of crypto users.
- Building Modular Blockchains: The core lies in building modular blockchains that power chain abstraction. These blockchains will manage accounts across chains, abstract gas fees, and unify liquidity, allowing existing L1s and L2s to coordinate and settle assets seamlessly.
- Data Aggregation: To maintain decentralization, scalability, and performance, Ruby Protocol will introduce a novel system aggregating Data Availability Providers (DA) like Avail, EigenDA, Celestia, and NEAR DA. It ensures that all participants have the transaction data needed to verify blocks, even with resource limitations and scalability needs.
- Empowering Developers & Users: These features simplify the user experience and empower developers to build dApps for a broader audience unhindered by multi-chain fragmentation.
Account abstraction and chain abstraction are both on the rise in the blockchain world, and their full realization could significantly change how we interact with crypto and decentralized applications (dApps). It will greatly impact how Web3 and crypto development unfolds and how quickly mass adoption comes.
Here’s a glimpse into the future we are building:
- No more private key woes: Account abstraction would eliminate the need for users to manage complex private keys. Instead, they could interact with dApps through user-friendly interfaces, similar to how they use traditional web applications. See https://ruby.one/.
- Enhanced security: Reduce the risk of losing funds due to user error or key theft, providing a reassuring layer of protection.
- Effortless transactions: Chain abstraction could hide the complexities of different blockchains. Users wouldn’t need to know which chain they’re on or worry about gas fees. They would simply initiate transactions, and the underlying technology would handle the specifics, providing a seamless and stress-free experience.
- Seamless cross-chain interactions: Chain abstraction could enable seamless communication and asset transfer between blockchains. This would create a more interconnected blockchain ecosystem where data and value flow freely.
- Lower development barriers: Account and chain abstraction could make it easier for developers to build user-friendly and secure dApps. This could lead to a surge in innovation and a more comprehensive range of dApps available to users.
As Ruby Protocol embarks on this exciting new chapter, we’re unveiling a revised roadmap that includes the much anticipated $RUBY token listing and a series of innovations paving the way for a future where blockchain technology is more accessible, efficient, and unified than ever before.
Join us on this journey as we build a future where the power of Web3 is unleashed for everyone!
About Us
Ruby Protocol is an Intent-Centric Account & Access Layer for Web3.
We are building an intent-centric, interoperable, and privacy-preserving infrastructure for Web3 future. Our services, including Account Abstraction (AA), Assets Bridge (AB), Access Control (AC) and much more, are designed to accelerate Web3 development and its mass adoption.
We aim to make Web3 seamless and effortless to everyone everywhere.
