Cryptocurrencies have gained massive popularity in recent years, and their adoption is constantly growing worldwide. However, despite the increasing demand and usage, cryptocurrencies still face significant challenges in achieving mass adoption. One of the major hurdles is the complexity of their usage and management. Fortunately, Shardeum blockchain and Plena wallet are partnering to simplify the usage of cryptocurrencies and bring mass adoption to the market through account abstraction.
Before delving into the partnership, let’s first understand what account abstraction means. Account abstraction is a mechanism that allows developers to build blockchain applications without requiring the users to have a particular cryptocurrency in their wallet. It works by separating the control of the account from the asset ownership. With account abstraction, users can interact with the blockchain using smart contracts without having to understand the underlying cryptocurrency.
Shardeum is a blockchain platform that enables developers to build decentralized applications (dApps) using its network. It aims to provide a secure, scalable, and interoperable blockchain solution that can support a wide range of use cases. The platform is built using the Ethereum Virtual Machine (EVM), which allows developers to use Solidity, the same programming language used on Ethereum, to build their dApps.
Plena wallet is a user-friendly mobile wallet that supports multiple cryptocurrencies. It enables users to send and receive payments, exchange cryptocurrencies, and manage their portfolio. The wallet provides a seamless user experience, making it easy for both new and experienced users to manage their cryptocurrencies.
The partnership between Shardeum and Plena wallet will enable users to interact with Shardeum dApps using Plena wallet without the need to hold SHM, Shardeum’s native token, in their wallet. This will be achieved through account abstraction, where users can use the Plena wallet to access the Shardeum network, interact with dApps, and pay for transactions using any cryptocurrency supported by the wallet.
The partnership aims to address the usability and accessibility challenges faced by cryptocurrencies. By enabling users to interact with dApps without having to hold SHM, Shardeum is lowering the barrier of entry for new users who may not be familiar with the cryptocurrency. Moreover, the partnership will enable Plena wallet users to access Shardeum dApps without having to switch between wallets or learn a new user interface, making the process of using dApps more intuitive and seamless.
The partnership is also expected to bring more users to the Shardeum network, which will increase the platform’s adoption and usage. By providing a user-friendly way to access the Shardeum network, the platform will attract more developers to build dApps on the network, which will further increase the network’s value and utility.
In conclusion, the partnership between Shardeum blockchain and Plena wallet is a significant step towards achieving mass adoption of cryptocurrencies. By leveraging account abstraction, the partnership aims to simplify the usage of Shardeum dApps and make them accessible to a wider audience. This will not only benefit Shardeum but the entire cryptocurrency ecosystem by making it more user-friendly and accessible to everyone.
What Sparsh Jhamb , CEO of Plena Wallet has to Say about the Partnership:
“As we work towards our goal of creating a more accessible and user-friendly crypto ecosystem, we are thrilled to partner with Shardeum to bring the benefits of scalable blockchain to our users. By leveraging account abstraction, we can simplify the usage of Shardeum dApps and enable our users to seamlessly interact with the platform without needing to hold SHM in their wallet. This partnership marks a significant step towards mass adoption of decentralized applications and a more user-friendly dApps.”
Quote from Nischal Shetty, CEO of Shardeum:
“At Shardeum, we aim to make decentralization accessible to everyone. That’s why we’re thrilled to collaborate with Plena Finance to bring mass adoption to the market through account abstraction. This will simplify the usage of Shardeum dApps and make them accessible to a wider audience, ultimately benefitting the entire cryptocurrency ecosystem.”
About Shardeum:
Shardeum is the world’s first EVM-based Layer 1 blockchain which uses dynamic state sharding to increase TPS (transactions per second) with the addition of every new node while retaining atomic composability. Shardeum provides low gas fees forever while maintaining true decentralization and solid security through dynamic state sharding. Shardeum aims to accelerate the transition to Web 3.0 by providing a platform that enables decentralized user experiences better than centralized competitors at scale.
About Plena Wallet:
Plena Wallet is a non-custodial wallet that offers users complete control and security over their crypto assets. It is user-friendly and easy to navigate, making it accessible to anyone interested in investing in cryptocurrencies. Plena Wallet has been utilizing Account Abstraction technology for the past 1.5 years, which simplifies the usage of dApps and enables users to interact with them seamlessly, without needing to hold the native token in their wallet. This integration has enabled Plena Wallet to provide its users with a more streamlined and user-friendly experience, helping to advance the adoption of decentralized applications.
👥 Official Social Media Links:
Website | Telegram Ann | Telegram | Twitter | Linkedin | Blog | YouTube | Reddit | Facebook | Instagram
