Industry executives and competing firms are still grappling with abstracting away the complexities of blockchain for the end user.
Anurag Arjun, co-founder of Avail — a unified chain abstraction solution — and the Polygon layer-2 scaling solution, told Cointelegraph that most current chain abstraction techniques create even more fragmentation of the crypto ecosystem.
The tech founder said that each distinct blockchain base layer features its own set of security assumptions, making interoperability between chains challenging. Arjun explained:
Bridging between chains is typically a multi-step process of communication between blockchain networks that carries high costs and security risks while siloing users and capital into fragmented pools, the Avail co-founder added.
Read more,# Blockchain Abstraction Challenges
## Key Points
– Industry leaders are focusing on simplifying the blockchain user experience.
– Anurag Arjun, co-founder of Avail, criticizes current chain abstraction solutions for increasing fragmentation in the crypto world.
– Distinct blockchain base layers each have unique security measures, complicating interoperability.
– Multi-step processes for chain bridging are costly and risky, leading to a more segmented landscape.
## Details
– Anurag Arjun from Avail also explained that security risks and high costs associated with bridging chains put off many potential users and limit overall growth in the blockchain sector.
– Abstracting layers aim to provide smoother user experiences and interaction with blockchain technologies but are currently not optimal.
## Closing Summary
In the quest to make blockchain as approachable as your classic toaster, it seems there’s still a long way to go. Anurag Arjun points out that instead of making everything ‘one-button easy’, current solutions are turning the crypto ecosystem into a sort of jigsaw puzzle on steroids. Whether the future holds a unified chain solution that makes swapping and interacting across chains feel like texting on smartphones is something only time will tell. For now, you may need a PhD in ‘Crypto-nomics’ just to move your digital change from one pocket to another!
### Your Witty Hot Take
Isn’t it ironic that technology aimed at unifying and simplifying ends up creating a maze worthy of a minotaur? Here’s to hoping for a future where blockchain is less ‘cipher’ and more ‘simpler’! 😄
#### Let’s connect on social media!
#cryptocurrency #blockchain #technology #innovation
