Quick take:
- XION uses a Generalised Abstraction layer that removes technical barriers for all users.
- The platform focuses on empowering developers of engaging consumer-centric applications that leverage blockchain technology.
- XION says developers can use its platform to build, launch, and scale consumer-ready Web3 products from the ground up.
XION a blockchain platform focused on onboarding masses to Web3 has completed a $25 million funding round backed by Animoca Brands, Nomura’s Laser Digital, Multicoin, Arrington Capital, Draper Dragon, Sfermion, GoldenTree, and more.
The company is building a platform that removes the complexities of building highly scalable consumer-friendly apps on the blockchains.
According to the announcement on its Website, XION uses a Generalised Abstraction layer, “an all-encompassing infrastructure solution aimed at removing technical barriers for all users.”
Based on the description given in the XION Whitepaper, the Generalised Abstraction layer “enshrines user experience at the protocol level”. It achieves this by creating secure, intuitive, and seamless user experiences through protocol-level implementations encompassing abstracted accounts, signatures, fees, and interoperability.
XION’s platform enables developers to build, launch, and scale consumer-ready Web3 products from the ground up. It is the first blockchain to integrate USDC as its primary transactional currency, moving away from the accustomed practice of launching a native token.
The company says the decision to use USDC helps in predicting pricing across all interactions within its ecosystem.
The company has also integrated Meta Accounts, which enable users to easily join its ecosystem using popular Web2 long-in methods like email and biometrics.
Commenting on the announcement, Burnt Banksy, a Core Contributor to the XION network said in a statement: “We are excited to be building XION, the blockchain that finally makes crypto accessible. With XION, people can interact seamlessly with decentralized applications right on their phones. No seed phrases to remember or private keys to store.”
The company is currently putting together a team of partners ahead of its mainnet launch, Banksy added.
XION plans to use the fresh capital to accelerate the development of its platform and global ecosystem as it continues with its mission of making Web3 accessible to everyone.
****
Stay up to date:
Subscribe to our newsletter using this link – we won’t spam!
