DeBank, a pioneering Web3-native messenger and Web3 portfolio tracker has announced an exciting development in the blockchain space – the introduction of DeBank Chain. This innovative layer 2 blockchain is set to revolutionize the landscape of social engagement, addressing key concerns such as gas costs, user experience, and asset safety. With the Testnet launch scheduled for August 11 and the Mainnet release anticipated in 2024, DeBank Chain is poised to make a significant impact on the Web3 ecosystem.

Reducing Gas Costs for Lightning-Paced Social Interactions

A Web3 Profile On Debank (Source: Debank)
A Web3 Profile on DeBank (Source: DeBank)

One of the standout features of DeBank Chain is its remarkable achievement in reducing gas costs for individual transactions by an astounding 100 to 400 times. This breakthrough is a direct response to the fast-paced nature of social interactions within the Web3 ecosystem. By significantly cutting down on transaction fees, the chain aims to facilitate seamless and cost-effective engagement on its platform.

DeBank Chain’s development has been rooted in providing users with a near-Web2 experience while ensuring compatibility with the current Ethereum Virtual Machine (EVM) standard. The integration of a system resembling Account Abstraction at the chain level underscores its commitment to delivering a familiar and user-friendly interface. This strategic move aims to bridge the gap between the Web2 and Web3 worlds, making blockchain technology more accessible.

The Open-source code can be found here.

Enhanced Asset Safety through Layer 2 Security Measures

To bolster user security, DeBank Chain introduces a novel account system that enables transactions to be signed with a dedicated Layer 2 private key. This innovative approach reduces reliance on Layer 1 private keys in social contexts, enhancing the protection of users’ Layer 1 assets. By adding this layer of security, DeBank Chain aims to instill trust and confidence among its users, ensuring the safety of their valuable assets.

Read more: AVAX vs Solana: Which is the Better Layer 1 Project in 2023?

Exploring DeBank Chain on Testnet with Rabby Wallet

Source: Mirror.xyz
The partnership with Rabby Wallet (Source: Mirror.xyz)

For those eager to experience the capabilities of DeBank Chain, Rabby Wallet has partnered with DeBank to offer seamless access to the Testnet environment. Rabby Wallet users can conveniently access test Gas through the built-in Gas faucet, simplifying the process of exploration. This collaboration aims to provide users with a user-friendly entry point into the innovative world of DeBank Chain.

You can visit the the testnet explore at: http://explorer.testnet.debank.com

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Conclusion

DeBank’s introduction of DeBank Chain marks a significant milestone in the evolution of blockchain technology, particularly in the realm of social engagement. With its focus on reducing gas costs, delivering a native Account-Abstraction-like experience, and enhancing the safety of Layer 1 assets, DeBank Chain is poised to reshape how users interact within the Web3 ecosystem. As the Testnet launch unfolds and the Mainnet release approaches, the industry eagerly anticipates the impact that DeBank Chain will have on making blockchain technology more accessible and user-friendly.

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