NEAR co-founder: What will the ultimate experience of chain abstraction be like?

Author: Illia (root.near), co-founder of NEAR; Compiler: 0xxz@黄金财经

The final chain abstraction experience may be as follows:

1. Join or log in with PassKey-one account applies to all chains, and the default recovery relies on your device biometrics and can rotate to other methods;

2. Set up social recovery with your friends, family, or companies you trust-the smart contract has a key on your account and triggers key recovery when the number of friend requests is reached;

3. If it is an organization, upgrade to multi-signature and make rules around various transaction types and restrictions. ;

4. Enter through cryptocurrency, wire transfer or card payment fiat currency on any chain-there is a receiving address on each chain;

5. You can use Google/Apple Pay to pay directly from your wallet-you have authorized the smart contract to withdraw a certain amount of funds within a daily/weekly/limit on your behalf. No additional deposits, manual balance maintenance, no need to pay on-chain fees directly, and no need to bridge assets between chains.  

6. You can buy any asset - just enter the asset name to see the best quotes in all liquidity, through intent and cross-chain settlement;

7. Set up subscription payments for various services or automatically pay bills - smart contracts send tx on your behalf to pay for services;

8. Savings account - deploy capital into actively managed on-chain funds, and put money into contracts that can deploy funds to various places on the chain;

9. Borrow capital on various chains as a single cross-margin account. Smart contracts collect deposits from all links and manage collateral levels.

10. Liquidation protection - monitor user account status and automatically send tx on their behalf through smart contracts to verify the conditions for reducing positions;

11. Set up dead switch recovery - if the account has no transactions for X months/years, the account can be taken over by the recoveryDAO, which can be used as inheritance planning or in the event of social and other recovery failures.

12. Browse web3 use cases using a natural language interface and receive interactive menus and dashboards - tool generator-style LLMs that can generate actions on all chains 

13. Predict and recommend the best assets and actions based on on-chain history and off-chain data - aggregate data from all chains and build recommendation ML models;

14. AI agents work on your behalf, pay and run jobs in the background - anticipate transactions through smart contract verification rules and requirements, and execute them on all chains.

This is just the beginning of the ultimate experience of possible chain abstraction!

Original link: https://x.com/ilblackdragon/status/1818595981463572981