Ethereum Layer 2 Chain Abstract Live

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, leveraging zero-knowledge rollups to achieve low transaction fees and high scalability for on-chain apps.

Its parent company, Igloo Inc., is known for owning the intellectual property of the Pudgy Penguins NFT collection, which is the largest NFT collection by market capitalization.

The design of this network focuses on fostering crypto communities and supporting consumer-facing Web3 applications.

The network offers native account abstraction, enabling wallets to operate as smart contracts and providing user-friendly features such as email or social logins, recovery mechanisms, and passkey support.

With the launch of the mainnet, Abstract has also introduced its consumer blockchain platform, The Portal. Users can create a wallet instantly with a single email address and access its ecosystem of dapps.

Abstract claims to have over 100 community-created apps integrated into its platform.

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.