The Xion platform developers have launched a testnet focused on an infrastructure solution that will make it easier for users to interact with Web3. This platform uses USDC as a means of payment.
The technology does not involve the direct use of accounts, signatures and other processes typical for interaction with cryptoassets. Users can use the web using native Web 2.0 methods like email and Passkey technology.
Xion's main use cases are payments, social networks, games and web subscriptions. The team plans to launch the mainnet next year.
The developers also published a whitepaper describing the features of the new solution. The technology is an "extended version" of the account abstraction , which involves smart contract-based wallets and opens up significant opportunities for improving the user experience.
“Web3 still has a steep learning curve and discourages users who have to learn how to manage wallets, securely store seeds, and send transactions to hex addresses. The generalized abstraction is a step beyond the account abstraction as we strive to simplify all aspects of using the blockchain,” said Burnt’s pseudonymous CEO and founder Banksy Burnt, who is also the developer of Xion.
The testnet is based on the Comet BFT framework and Cosmos SDK. The latter is a popular developer toolset involved in Injective, Osmosis and dYdX Chain.
In October, representatives of the Xion project announced that after the launch of the main network, the solution will be used by an ecosystem of more than 75 project partners.
Burnt raised $11 million from Animoca Brands, Circle Ventures, Multicoin, HashKey, Valor.
Earlier, Ethereum co-founder Vitalik Buterin expressed the opinion that account abstraction can protect user accounts from quantum computers.
