- DeBank’s “Asset Layer for Social” blockchain appears to be like to sort out pricey transaction charges and safeguard layer 1 property on EVM-compatible chains.
- The DeFi aggregator stated its chain would implement account abstraction at chain degree to supply a web2-like expertise for customers.
- DeBank constructed its testnet and upcoming mainnet utilizing OP stack, the blockchain infrastructure developed by Optimism and employed by Coinbase for its L2 community Base.
Crypto portfolio tracker DeBank launched its testnet blockchain on Friday forward of the community’s mainnet launch anticipated subsequent 12 months in 2024.
The so-called “Asset Layer for Social” goals to sort out three considerations posed by decentralized finance contributors relating to transaction prices, person expertise, and asset security on layer 1 blockchains.
A custom-built consensus mechanism would assist cut back gasoline charges by 400 instances the same old price on different Ethereum Digital Machine-compatibility (EVM) chains, DeBank stated. The chain was additionally constructed utilizing Optimism’s OP stack, a blockchain design developed by the Ethereum scaling answer that slashes transaction charges with out jeopardizing community safety.
The community hopes to supply customers a web2-like expertise, utilizing Ethereum updates like Account Abstraction to implement seamless actions throughout networks suitable with EVM requirements. DeBank additionally introduced a personal key signing function constructed to safeguard property.
The brand new account system helps transactions signed with a devoted L2 personal key, decreasing the usage of L1 personal keys in social eventualities and enhancing the safety of customers’ L1 property.
DeBank, Coinbase, Mantle Decide For OP Stack
DeBank is the most recent DeFi participant to undertake Optimism’s OP stack for its personal blockchain answer. Certainly, the OP stack has grow to be in style amongst service suppliers trying to construct instruments that supply low cost on-chain transactions at scale.
Base, the layer 2 community backed by crypto change Coinbase, additionally constructed its lately launched mainnet utilizing Optimism’s developer equipment. Customers bridged ~ $170 million in crypto from Ethereum to Base lower than 24 hours after the community launched.
Different decentralized networks like Mantle and OpBNB additionally selected OP stack for his or her chains.