Blockchain's Great Transition: Embracing Chain Abstraction for Web3

The blockchain industry is undergoing a significant transformation with the introduction of chain abstraction, which aims to address the fragmentation challenges posed by modularity. Over the past two years, modularity has been instrumental in solving scalability issues within blockchains. However, starting in fall 2024, the focus will shift towards abstraction to streamline the user experience and increase accessibility in the Web3 space. This transition, referred to as the Great Transition, is expected to bring millions of users onto the blockchain by simplifying the complexities of the modular stack. Various teams are actively working on abstracting these complexities, indicating a major shift in the Web3 ecosystem.