Abstract Mainnet Goes Live
Abstract, a consumer-focused Ethereum layer-2 network developed by Igloo Inc., the parent company of Pudgy Penguins, has officially launched its mainnet. This step marks a move to make crypto more accessible and appealing to everyday users, not just those already familiar with blockchain technology.
Source: Abstract
In June 2024, Abstract raised $11 million to bring billions of new users on-chain and establish itself as a leading blockchain for consumer crypto products. Luca Netz, Abstract’s co-founder and owner of Pudgy Penguins, emphasized that the industry has often focused on technology at the expense of user experience. Abstract seeks to reverse this trend by creating a platform that is simple, inclusive, and enjoyable for everyone.
Abstract introduces solutions to common challenges that have hindered crypto adoption. Its Abstract Global Wallet allows users to participate in blockchain activity using just an email address. Unlike traditional wallets, this innovative system eliminates the need for intimidating secret recovery phrases. These changes aim to make entry into the blockchain world smoother for those new to the space.
The team behind Abstract spent a year crafting a platform that prioritizes usability and consumer needs. Cygaar, a pseudonymous developer and Cube Labs CTO, highlighted the results of this effort. At launch, Abstract unveiled a frictionless wallet with versatile capabilities and a network designed to support a wide range of consumer-friendly crypto applications.
Abstract’s ecosystem launches with around 120 live projects, including those focused on infrastructure, NFTs, and meme coins. This diverse starting lineup reflects Abstract’s goal of catering to various interests. Over 350 additional projects and applications are expected to go live throughout the year, according to Phin, a pseudonymous marketing leader.
How to Get Started
Users can explore Abstract by visiting abs.xyz to create their global wallet. The platform supports easy onboarding of funds through options like bridging from other blockchains or using services such as MoonPay and Coinbase. Abstract also offers a unique incentive system. By engaging with projects and apps on the network, users can earn XP, a native rewards system similar to loyalty points. XP allows participants to level up and unlock potential perks and benefits as they interact more with the network.
Source: Abstract
Abstract’s mainnet is built on ZKSync’s ZKStack technology. This system uses zero-knowledge cryptography to ensure secure, fast, and scalable transactions. Like other Ethereum scaling solutions such as Base and Arbitrum, Abstract provides lower transaction costs and faster speeds compared to Ethereum’s mainnet. This foundation ensures a smooth and efficient experience for users across the network.
Abstract positions itself as a network designed for everyday users rather than solely for crypto natives. By focusing on simplicity, convenience, and meaningful incentives, Abstract aims to redefine how consumers interact with blockchain technology. The platform’s commitment to removing traditional barriers and offering a diverse ecosystem of projects underscores its potential to bring crypto into the mainstream.
Abstract’s mainnet launch represents a shift in the blockchain industry, prioritizing user experience over technical complexity. With its intuitive wallet, robust rewards system, and innovative technology, Abstract offers a glimpse into the future of consumer-focused blockchain platforms. By making crypto accessible and rewarding, Abstract has the potential to transform how users interact with blockchain applications and products.
