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Xion blockchain network, which utilizes the USDC stablecoin as a payment method, has announced the launch of a testnet focused on Generalized Abstraction with the aim of simplifying the Web3 user experience. The team aims to directly involve users without the need for wallet accounts, signatures, or other known processes. Following the successful completion of the testnet, the team plans to offer the main network version to users in 2024.
The Xion team has also shared technical review details about Generalized Abstraction with the public. This step is seen as an expanded form of account abstraction technology that allows users to use without having to download crypto wallets to their devices, and is also referred to as smart wallets.
The solution addressed by the team focuses on involving users in Web3 applications using classic methods such as email, PassKeys, and cryptographic signature schemes used in information technology. The team will also focus on usage scenarios related to payments, social communities, web subscriptions, and games.
Xion stands out as the first blockchain ecosystem to integrate the USDC token for known pricing. This means that all products built on Xion will display prices in the stable currency to be user-friendly. The software company behind Xion, Burnt, has raised over 11 million dollars from investors including Animoca Brands, Circle Ventures, Multicoin, HashKey, and Valor.
The Xion testnet is built on the Comet BFT consensus framework and the Cosmos SDK, a popular developer toolkit and software package that has played a role in the development of projects such as Injective, Osmosis, and dYdX Chain. After the mainnet launch, Xion announced that the network will be supported by an ecosystem consisting of over 75 partners to manage communities and provide basic functions to users.
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