Towards a Blockchain-Agnostic Future: The Case for Advanced Chain Abstraction

Transcript

[Music] Thank you. Good afternoon everyone. I hope you had a nice lunch and I'll talk to you a little bit about chain abstraction and how it is the future and the present in terms of making the blockchain a whole lot more usable. But before I go through this, how many of you guys do transactions that cross multiple chains?

Awesome. And how many of you guys have heard the term chain abstraction? Okay. How many of you know the details, the nitty-gritty details in the various ways of chain abstraction? He's going to ask me a lot of questions later. Okay. So when I start, what I would do is I will take you through a demo because I recorded the demo. I thought if I play it live, something would go wrong and I'll embarrass myself. So I've recorded a video on a Pillar X app which is by Pillar Wallet using a chain abstracted solution from Ether Sport. Oh, I didn't tell you who I was in the beginning. My name is Vasel. for me to spot and I will tell you the story through

the video. Then I will explain what it does from the business level, what it does from the technical level and we'll take it from there. So this is my pillar X app and I've got $39 across multiple chains. That is my portfolio. So I'm going through the the app and showing okay I can see that they have multiple competitions going on ranking and they do have freshly minted tokens which I can go in that these are going fast and I on top of this freshly minted tokens which are meme tokens I want me some trending tokens. The

difference is the trending tokens are a little bit more mature relatively. So I will probably find liquidity when I want to purchase one. So I'm going through just to see do I have more options? I can even see some NFTts that they have I can purchase. But I thought to myself, you know what, I will stick to tokens and I'll buy me some token say from OP and I will maybe get me some cyber token. Then I'll click on cyber token. And as soon as I do that, what happens is it would open up for me. It would go go and look for cyber token. It gives me a list of where I can find it from. I'm deciding let me just stick to OP. I'm

stingy. I'm only putting in 10 cents of cyber token when I'm doing this thing. Then would I have liquidity for it? We'll see if I can find some liquid. Oh, there is some liquidity. Okay. Now look at the top side. It is coming from arbitum my USDC. It is using a stable coin and it is sending me the cyber token onto OP. So this is using a smart account which is owned by an EOA. So the EOA is signing on my behalf because I'm on the smart account. Then the smart account is creating this thing called resource log. What it is effectively is on the arbitrum side it is allocating and locking that 10 cents

so that I can't do any double spend and now it is doing the log and it says it has done that let's just trust path verify we go to arbitum and see this is the log for my 10 cents which I counted spend and I'm looking around okay then I will go back and see and my crosschain transaction has already happened and as you can see it's opening optimism. I've managed to get me a cyber connect token without me having to do a whole lot more. And let's check whether I have that token in my account.

These are all the tokens that I own. Don't forget I have $39. It is accumulation of all these tokens viewed as one account and that is my cyber token there. I'm saying cool, but does this just work from arbitum to OP? Can I test it on another chain? I will just go and close this and I'll just go and see if I can get this thing on another chain. I'm scrolling through again. And now I'm going to go and get something from Polygon. That looks promising. This meme token is shows quite green. So, let me go and get a super trust token. the same process again, but I've only got a

couple of choices. I get that my masly amount of 10 cents again. And funny, I keep on finding liquidity on these things. When I put in 10 cents, I thought I'm not going to find any liquidity again. It has picked up my stable coin from arbitram and it's going to go and get it for me on Polygon. Sign just sign once. Same thing. Lock the asset on the source chain. In this case, on arbitum. It could have been on any other chain. I have the USDC on.

As soon as it does the resource log, which is on the source chain, I'm just checking just to trust verify, but the user doesn't really need to do that unless you want to check yourself. that is showing oh we've locked this asset on arbitum and it's using smart account and token is already there for me checking on polygon polycan to see that the token is done and still refreshing just closing this and going back and checking on the account and this is s token I was looking for super trust token and it was on polygon and I was

purchasing it was using the asset I have on arbitum as you can see it is there now the use usability seems seamless and in that I've used multiple tokens across chain and so what really happened in there from the user's perspective what's the benefit for the user from the user perspective you can say Okay. Token purchase across multiple chains.

Check. User has atomic automatic liquidity across chain because the user didn't have to breach. The user didn't have to sign multiple times. They just managed to get the liquidity on the either in this case on OP or on Polygon straight away. So check automatic liquidity. What else? It was a one-click action that B. So I didn't have to do many clicks at all. I just signed once from the EOA that owned the smart account and one click action. What else? Well, there was this thing about fully decentralized service even though the user will not see it but

this is important and I would explain this a little bit later in the slides. So how did we do it? Well, what happened was my intention was to get cyber token or my intention was to get SUT token. So you can call that an intent and when I expressed that intention, the intent node picked it up. Imagine I take this a couple of notches further. What if my request was to an AI agent to say, "Can you balance my portfolio and you've seen $39 I had in multiple tokens and I said to it, please balance my portfolio to XY Z criteria. Those things could have been done on my behalf

without me knowing the implementation details, having to bridge or anything like that. So this intent was then picked up and it was sent to a solver. what we call solver and the solver layer is effectively those guys that do the fulfillment that do the swap on my behalf. They could have done a swap say when I wanted a cyber um text coin token they could have gone from the USDC I have to another intermediary token or another one. Whichever way they do it, it is their problem. I just outsource it to them. Then the solvers performed the swap and I received those tokens. And

what enabled this? There is this thing called credible account module that we used. When you saw the account being locked, number one, the the funds were being locked because we were using smart accounts and modular accounts. And this credible account model is like a session key effectively. What it does is it knows how much money it can spend. In this case, 10 cents. It has a time duration. You could only spend those 10 cents within X amount of time and only the chosen solver can spend it. So, it is literally working in a within a smart account, a modular account. The session just defining how much I'm risking for

you to spend on my behalf. And we have designed it so that it is using a stable coin like USDC. And when you saw it, it was picking up from arbitum. And I do have USDC on multiple chains, but the algorithm picked up arbitrum is the best way. Maybe it's because I had a lot more funds in there. So we have used this method to do it. So it's called a credible account module. Then the whole thing is built over smart accounts. The smart account number one enabled us to use the modular account.

Number two that thing you saw I only signed once single action oneclick action because this is done through batching. Batching means basically if I have to authorize the token, swap the token or anything else I had to do, we can just put them all in one and sign for them once and it is executed. So this is all achieved through the smart account as we saw. What else then? Because I did talk to you about it being decentralized.

This setup that we have because it is using the 4337 the ERC that was mentioned earlier on in the previous talk. It was highly rated in that and we are using ERC 4337based bundler. But one of the issues with the bunders is when you send a user transaction, you send it to a specific bundler. If the bundler in general they're running, so you send it to an ether sport bundler and we have an outage for whatever reason, it means your transaction is going to suffer. But because there is this peer-to-peer mele, public me that is available and ether sport is part of that for whatever reason. If it support bundler goes down,

what happens is as soon as the transaction, the user operation is received by us, we push it to all the other bundlers on the public uh P2P main poolool, then another bundler would process it. So the user would not suffer for it. And there is another benefit as well. What if for whatever reason a certain jurisdiction says do not process any transactions from Michael? It means I'm being censored. But because of this P2P main poolool, I can just say heck with it. I'll just spin up a bundler node at home on my laptop because these things are open source and process it myself. So it does help us with censorship resistance as

well. I'm coming to the end. I'm just gone a bit too quick. And the blockchain agnostic future is not just for the future. It is here and now. A lot of DAPs can integrate the likes of Ether Sport and you can check our URL and you can also check out pillar how we've integrated with them and they can achieve that smooth way of transaction that you've seen and I know you can ask more many questions if you guys are feel free to ask me any questions.

Thank you. Thank you very much everyone.