Chain Abstraction in NEAR: Relayers and Multi-Chain Signatures Explained

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1. 0:00

   two main components of chain of traction on near let's start with Rel layers so Rel layers are really all about the actual token Exchange in covering gas fees and things like that so this is a a process that actually allows users to start using any dap that doesn't make them actually have to get the token for the chain that working in so you're just working within one wallet and one token and this service actually these Rel layers provide the ability to then

2. 0:31

   essentially subsidize those gas fees as well as then do the conversion for the tokens one way that you can think about this is on other chains you might have heard the term account abstraction well on near this is actually a built-in feature and because of that you users can actually wrap transactions in a message which is known as meta transactions and so that any other account could actually then relay that

3. 0:56

   to the appropriate Network so on near you can actually really simplify this by actually having the relayer attach near to cover the gas fees pass that transaction to the new network and that it's executed as if the user has sent it uh directly there this now coupled with multi-chain signatures and the MPC Network allows the the DAP developer to actually make a seamless experience across multiple chains

4. 1:26

   without having the user to open multiple wallets or actually hold multip tokens so multi-chain signatures the way that actually really though Works in this example year of chain abstraction is that it is one account in multiple chains and instead of having to be siloed what near protocol is actually doing is having a service that MPC Network the multi-party computational network is going to allow them to actually buying these transactions across these other chains so using the

5. 1:59

   intent layer that's going to actually relay that message you then can actually have a setup where I am not trading tokens across chains I'm actually trading accounts cross chain so essentially the smart contract that's going to manage all of this is holding the keys and those keys are then on accounts for other chains and the smart contracts are simply swapping ownership of those keys just like you would swap an nft and this really clever

6. 2:31

   implementation allows you to seamlessly build and have a way for your users to interact on other chains without having to again open another wallet hold another seed phrase or hold the other tokens what it also does is that when it produces these signatures through this multi-chain signature process indexers can then listen for the signatures and pass them to the relayer multi-chain signatures are actually combining smart contracts to produce signatures with the indexers that are listening for the

7. 3:04

   signatures and then relay them to submit those transactions to other networks but the index action isn't even required in scenario it's a nice to have but the relayer is really the key part there so as long as the signature is happening and going to the relayer you are actually having the seamless set of transactions across multiple chains through one wallet through one set of

8. 3:26

   private keys and again this was what allows a user to actually hold assets and use applications on any network just so there single lineary account