XION And TOKI Announce Launch Of Chain Abstraction Created for BNB Chain Ecosystem
In Brief
Layer 1 blockchain XION partners with TOKI to introduce the first Chain Abstraction solution to the BNB Chain ecosystem.
Web3 developer responsible for the Layer 1 blockchain designed for consumer adoption known as XION, Burnt announced the commencement of integration efforts between XION and TOKI to introduce the first Chain Abstraction solution to the BNB Chain ecosystem, marking the inception of the first Inter-Blockchain Communication (IBC) link between the Cosmos ecosystem and the BNB Chain.
TOKI is focused on extending the IBC connection to encompass the majority of blockchain networks. IBC is recognized as an effective interoperability protocol known for its emphasis on trust minimization.
This collaboration aims to leverage the capabilities of TOKI and XION in order to bolster user adoption across various ecosystems. TOKI will provide its IBC modules featuring a multi-prover security model, integrating technologies including Trusted Execution Environments (TEE), Multi-Party Computation (MPC), and Zero-Knowledge (ZK). Additionally, TOKI will undertake the development of ICA/ICS protocols operating on IBC-solidity.
Meanwhile, XION endeavors to simplify the navigation of Web3 for users by concealing its inherent complexities. Through its Generalized Abstraction, XION will facilitate smooth interactions by combining protocol-level abstractions with the utilization of smart contract accounts on both the host blockchain (XION Meta Accounts) and the destination blockchain.
This integration will boost liquidity and introduce a range of novel cross-ecosystem applications, streamlining the onboarding process for users not native to cryptocurrencies and enabling their interactions with on-chain applications without Web3-related complexities.
XION Partners With Nomos
XION is the first modular Generalized Abstraction layer, crafted to facilitate consumer adoption by delivering user experiences tailored for everyday users. Within its Generalized Abstraction layer lie protocol-level abstractions covering various aspects encompassing Accounts, Signatures, Gas, Interoperability, Pricing, Devices, Payments, among others.
Recently, XION has launched its first Chain Abstraction integration with the Injective ecosystem alongside Nomos, with the objective of enriching blockchain usability by establishing seamless connections among users, applications, and liquidity across different ecosystems. Chain Abstraction is aimed at making Web3 more accessible for users by simplifying cross-ecosystem complexities through XION’s Generalized Abstraction. This enables XION to function as an extension to blockchain networks.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
