"Ethereum's Abstract Layer 2 Chain Launches, Revolutionizing Web3 User Experience"

Ethereum Layer 2 chain Abstract has gone live on the mainnet and is now available for public use. The blockchain was developed using ZKsync’s ZK stack, which employs zero-knowledge rollups to achieve low transaction fees and high scalability for onchain apps. Its parent firm, Igloo Inc., is known for owning the IP of the Pudgy Penguins NFT collection, the largest NFT collection by market capitalization.

The network's design focuses on fostering crypto communities and supporting consumer-facing Web3 applications. It offers native account abstraction, allowing wallets to operate as smart contracts and providing user-friendly features such as email or social logins, recovery mechanisms, and passkey support. With the mainnet rollout, Abstract also unveiled its consumer blockchain platform, The Portal. With a single email address, users can instantly create a wallet and access its ecosystem of dapps.

Abstract has over 100 community-created apps, the project claims. In preparation for Abstract’s development, Igloo raised $11 million from investors, including the Founders Fund. Additionally, in June 2024, Igloo acquired Frame, a Layer 2 project aimed at creators to integrate its technological expertise into Abstract.

Abstract Chain, an Ethereum Layer 2 network developed by Igloo Inc., has now launched on the mainnet. Built using ZKsync’s ZK rollups, it offers low-cost, scalable transactions tailored for Web3 applications, especially community-driven ones. Igloo Inc., owner of the Pudgy Penguins NFT collection, designed Abstract Chain to enhance user experience through features like account abstraction, allowing wallet operation via smart contracts and user-friendly access options, including social logins. The network also introduced The Portal, a blockchain platform simplifying instant wallet creation and dapp access.