XION (XION): The Future of Secure, Accessible Web3 Accounts

What is XION (XION)?

XION (XION) is a layer-1 blockchain that is designed to make managing digital accounts in Web3 easier, more secure, and more flexible than ever with no wallets.

What sets XION apart from other Web3 accounts is its Meta Accounts. These are highly adaptable accounts that are modular in design, meaning they can be customized to meet the needs of individual users. This flexibility allows for a wide range of uses, from digital banking and gaming to content streaming and decentralized messaging.

Who Created XION (XION)?

XION was created by Burnt, a company that has dedicated itself to advancing society’s financial and creative freedom through blockchain and Web3 technology. Burnt's mission is not just about creating cutting-edge digital tools but also about breaking down barriers that currently limit people’s ability to participate in the crypto space. Burnt integrates and partners with organizations that share its vision to build the tools, products, and infrastructure needed to make Web3 relevant and accessible to society.

What VCs Back XION (XION)?

XION has already raised over $36 million from top venture capital firms and investors in the blockchain industry. Some of these big-name backers include Animoca Brands, Circle Ventures, Multicoin, Valor, Hashkey, Spartan, Mechanism, Figment, Stateless Ventures, Coinlist Seed, Injective, Alliance DAO, and more. The project has also attracted personal investors like Sandeep Nailwal, co-founder of Polygon.

How XION (XION) Works

Here are XION’s main features:

1. Generalized Abstraction Layer

XION’s Generalized Abstraction Layer is designed to simplify user interaction with dApps and blockchain networks. Typically, when someone wants to interact with a blockchain, they have to understand different blockchain networks, tokens, and wallets. This can be confusing for people who are new to the space.

The Generalized Abstraction Layer hides the complexity of blockchain operations behind the scenes, allowing users to focus on what they want to do rather than how to do it. For example, instead of worrying about which specific blockchain a transaction is happening on, users can make transactions easily and securely without having to understand the technical details.

2. Meta Accounts

One of the most revolutionary features of XION is its Meta Accounts, which is a new kind of user account that’s built to work with decentralized applications without requiring a deep understanding of blockchain technology. Meta Accounts allow users to log in with familiar methods, like email, and to use the same account across multiple devices. For those who aren’t tech experts, this means they can still access dApps without having to learn about private keys, gas fees, or wallet management.

Meta Accounts are also built for security and flexibility. They support time-limited sessions and customizable account rules, which means users can set transaction limits or even recurring payments. If a user loses one of their authentication methods (like their phone or email), they can still recover their Meta Account. This makes XION’s Meta Accounts a safer and more convenient option for new users and veterans alike.

3. Signature Device Abstraction

Another unique aspect of XION’s technology is Signature Device Abstraction. Traditionally, when users interact with a blockchain, they need to sign transactions with private keys—a complex process that can be intimidating for beginners. Signature Device Abstraction allows users to sign transactions securely without worrying about managing these private keys.

Instead, this feature lets users sign in and interact with Web3 apps through more familiar methods. Users can interact across devices, which makes it easier for people to use Web3 on their phone, tablet, or computer without having to manage multiple private keys or wallets.

4. Parameterized Fee Layer

The Parameterized Fee Layer is a feature that makes paying transaction fees simpler and more flexible. Usually, each blockchain transaction requires a fee, often paid in that network’s native cryptocurrency (like ETH on Ethereum or MATIC on Polygon). This can be challenging for new users who don’t have these tokens handy.

With XION’s Parameterized Fee Layer, developers can create applications where users can pay fees using different tokens, or even no fees at all in some cases (called "gasless transactions"). For example, if someone is using a decentralized messaging app built on XION, they could send a message without needing to own a specific token for transaction fees. This system makes it easier and more affordable for new users to get started with Web3 apps.

5. Abstracted Interoperability

Abstracted Interoperability is another core feature of XION. One of the current limitations in Web3 is that different blockchains often operate independently, and users can’t easily interact with multiple networks in one place. XION addresses this issue by making it possible for users to interact across multiple chains seamlessly.

For example, a user could send assets or data between different blockchains without needing separate accounts or wallets for each one. This interoperability makes XION’s technology incredibly flexible and practical, allowing users to participate in various blockchain ecosystems without being limited by a single network. Abstracted Interoperability means that whether users are playing a game, accessing a social media app, or transferring assets, they won’t have to worry about switching networks or managing multiple wallets.

XION Goes Live on Bitget

XION’s innovative approach to account management, transaction processing, and blockchain interoperability could make it much easier for everyday people to use Web3 applications. By simplifying complicated processes and adding familiar login and transaction methods, XION could help make Web3 applications feel as user-friendly as today’s most popular apps.

With XION, developers don’t have to choose between crypto-native and non-crypto-native audiences—they can design dApps that appeal to both, helping to grow the Web3 community. With backing from major investors and partnerships with industry leaders, XION has a strong foundation to fulfill its mission of making Web3 accessible and usable for everyone.

XION on Bitget Pre-Market

XION is a part of Bitget Pre-Market, a platform where users can trade tokens over-the-counter before the token is listed for spot trading. Join now to get the best out of it!

Start time: 12 November, 2024, 07:00 (UTC)

Bitget Pre-Market offers flexibility in trading activities with two settlement options:

● Coin settlement, which uses a 'cash on delivery' method where a security deposit is forfeited if the seller fails to deliver.

● USDT settlement, a new option where trades are settled in USDT at the average index price at the last minute.

To use Bitget Pre-Market, follow these simple steps:

● Step 1: Go to the Bitget Pre-Market page.

● Step 2:

○ For Makers:

■ Choose the desired token and click on ‘Post Order’.

■ Specify Buy or Sell, enter price and quantity, review details, then confirm.

○ For Takers:

■ Choose the desired token, pick ‘Sell’ or ‘Buy’, select the pending order, enter quantity, and confirm.

For detailed instructions on how to use Bitget Pre-Market, please read Introducing Bitget Pre-Market: Your Gateway to Early Coin Trading

Get XION on Bitget Pre-Market now!

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.