We are welcoming you to our weekly digest! Here, we discuss the latest trends and advancements in account abstraction, chain abstraction and everything related, as well as bring some insights from Etherspot’s kitchen.
The latest news we'll cover:
*ERC-4337 Shared Mempool Live on XDC network
*ERC-7281: How To Make Cross-Chain Tokens Fungible Again
*Ethereum Developers Announce Pectra Upgrade for March 2025
*Reown Secures $13 Million Series B Funding to Revolutionize Onchain UX
*Astar x Soneium: Expanding into Ethereum Layer 2
Please fasten your belts!
ERC-4337 Shared Mempool Live on XDC network
The ERC-4337 Shared Mempool is now live on the XDC Network, marking a significant milestone in blockchain usability. Developed in collaboration with Etherspot, ERC-4337, Candide Labs, and Silius, this decentralized solution enables bundlers to share UserOps across a peer-to-peer network, enhancing efficiency and reliability in Account Abstraction (AA).
For XDC developers, this infrastructure unlocks advanced features like smart wallets, gasless transactions, and simplified onboarding, aligning with the network’s commitment to delivering low-cost, high-speed blockchain solutions. The Shared Mempool boosts decentralization by eliminating single points of failure, reducing congestion, and enabling resilient transaction processing.
This milestone bridges the XDC Network with Ethereum’s AA ecosystem, fostering innovation and making blockchain interactions more intuitive for developers and users alike.
For a deeper dive into the Shared Mempool’s broader vision and impact, check out our launch post.
ERC-7281: How To Make Cross-Chain Tokens Fungible Again
2077 Research dives into the challenges of cross-chain token interoperability and explores ERC-7281, a proposed solution to tackle token fungibility issues. The standard enables tokens to maintain their 1:1 exchangeability across multiple blockchains, addressing inefficiencies in current bridging systems like lock-and-mint or burn-and-mint mechanisms.
ERC-7281 extends the ERC-20 token standard, allowing multiple whitelisted bridges to mint and burn tokens on remote chains while preserving fungibility. This solves problems like liquidity fragmentation, security risks from bridge failures, and the creation of non-fungible token variants across chains. The proposal also ensures developers retain sovereignty over token deployments, preventing vendor lock-in by bridge providers.
Current bridging methods often result in incompatible token representations, forcing users and developers to navigate fragmented liquidity pools and high costs. By standardizing canonical token minting and burn protocols, ERC-7281 aims to streamline cross-chain token interactions, reduce friction for users, and enhance developer capabilities in creating multi-chain applications.
This is the first of a two-part report exploring ERC-7281’s design and its potential impact on the Ethereum ecosystem.
Ethereum Developers Announce Pectra Upgrade for March 2025
Ethereum developers have scheduled the Pectra hard fork for March 2025, combining eight key upgrades to enhance wallet usability, staking limits, and blockchain efficiency. Among these, EIP-7702 introduces wallet programmability akin to smart contracts, streamlining the user experience. Another pivotal update, EIP-7251, raises the staking cap per validator from 32 ETH to 2,048 ETH, addressing logistical challenges for high-stake validators.
Pectra, a scaled-down version of its initial plan, follows 2024’s Dencun upgrade and is set for testing on Ethereum’s Sepolia and Holesky networks in February. If successful, Pectra promises to deliver significant improvements in Ethereum’s functionality and scalability.
📢 Attention all Chain Abstraction enthusiasts!
The Etherspot team will be hosting an insightful X Space with Arcana Network on two Chain Abstraction Design Approaches: Resource Locks vs Escrow Contracts.
Join us on January 28 @ 14:00 GMT
👉 Set a reminder 👈
Reown Secures $13 Million Series B Funding to Revolutionize Onchain UX
Reown, formerly known as WalletConnect, announced the completion of a $13 million Series B funding round, bringing its total funding to $38 million. The round, led by USV and 1kx, included participation from Shopify Ventures, Kraken Ventures, Crypto.com Capital, Figment, and others. The funds will support the development of Reown’s onchain UX solutions, including its SDKs, Reown AppKit and Reown WalletKit.
Reown remains integral to the WalletConnect network, which now boasts over 220 million connections globally and 5 million monthly active users. Recent efforts include the decentralization of the network through third-party node operators and the launch of the WalletConnect Token (WCT).
CEO Jess Houlgrave emphasized the network’s growing role in bridging blockchain technology with traditional financial systems:
“The WalletConnect network has long been the essential bridge connecting wallets, apps, and users. Now, it will also serve as a bridge for the traditional financial system. We aim to make blockchain technology as intuitive and seamless as possible for everyone.”
Reown AppKit now supports Solana and Bitcoin, enabling multichain solutions for developers. Meanwhile, WalletKit powers over 600 wallets, including Trust Wallet and Binance Wallet, with innovations like the Chain Abstraction Roadmap to simplify gas fees and chain swaps.
These advancements aim to redefine onchain UX, blending traditional finance, DeFi, and fintech into a unified user experience.
Astar x Soneium: Expanding into Ethereum Layer 2
Astar has announced its integration with the newly launched Soneium Mainnet, a Layer 2 Ethereum blockchain developed by Sony Block Solutions Labs. Joining forces with industry leaders such as Circle, Optimism, Alchemy, and ChainLink, Astar Network strengthens its foothold in the Ethereum ecosystem. This partnership promises to drive web3 innovation and expand opportunities for creators, developers, and token holders.
Sota Watanabe, CEO of Startale Group, highlighted the significance of this collaboration: “The launch of the Soneium Mainnet by Sony Block Solutions Labs will have a great influence on Astar. We’re building platforms where creators and innovators have space to thrive — and honestly, this feels like just the start.”
The integration aligns with Astar’s Evolution Phase 1.5, transitioning from a blockchain protocol to a collaborative collective. Astar’s ASTR token will now serve as a key asset in Soneium’s ecosystem, bridging decentralized finance and the creator economy.
With tools like the Astar Portal, token holders can seamlessly transfer ASTR to Soneium and unlock new DeFi and creative opportunities. Developers can also build cross-chain applications leveraging Astar and Soneium’s interoperability.
🐞Etherspot’s New Chain Abstraction Solution Demo Is Live! Build a seamless, cross-chain Web3 user experience with us.
Start exploring Account Abstraction with Etherspot!
*Learn more about account abstraction here.
*Head to our docs and read all about Etherspot Prime.
*Skandha — developer-friendly Typescript ERC4337 Bundler.
*Arka — an open-source Paymaster Service for gasless & sponsored transactions.
*Explore our TransactionKit, a React library for fast & simple Web3 development.
*Follow us on X (Twitter) and join our Discord.
❓Is your dApp ready for Account Abstraction? Check it out here: https://eip1271.io/
Register at the Etherspot's developer portal to start building with Account & Chain Abstraction!
Top comments (0)