Pudgy Penguins’ parent company launches Abstract blockchain

Igloo Inc., the company behind Pudgy Penguins, has officially launched Abstract Chain.

Abstract is an Ethereum ( ETH ) layer-2 blockchain built to simplify access to Web3 applications. The platform uses ZKsync’s ZK Stack technology, enabling faster transactions and lower fees while maintaining scalability and security, according to a release shared with crypto.news.

Through its flagship platform, The Portal, users can access over 100 apps and projects by simply signing up with an email address.

Web2 simplicity with Web3 potential

Abstract Chain aims to remove the technical barriers that often deter everyday users from engaging with blockchain technology.

The platform combines Web2 user experiences with Web3 technology, offering an intuitive interface that incorporates account abstraction and social logins for easier blockchain access. It is also developing tools like a live-streaming service for creators to strengthen audience engagement within the crypto ecosystem.

Abstract’s vision centers on “consumer crypto,” focusing on blockchain applications that integrate seamlessly into daily life. Adoption is planned in three phases: discretionary spending, necessary spending, and essential spending, starting with gaming and entertainment.

By building these applications on-chain, Abstract seeks to address issues prevalent in traditional Web2 platforms, such as ownership, decentralized governance, and transparency, to encourage broader adoption.