# Abstract, the L2 Public Chain Under Pudgy Penguins' Parent Company, is Surging in Popularity and Worth Watching!

**Published by:** [translate](https://paragraph.com/@translate/)
**Published on:** 2025-02-09
**Categories:** abstract, l2
**URL:** https://paragraph.com/@translate/abstract%2C-the-l2-public-chain-under-pudgy-penguins-parent-company%2C-is-surging-in-popularity-and-worth-watching

## Content

Basic Information of Abstract: Abstract is a consumer-centric blockchain powered by cutting-edge ZK encryption technology, designed for consumer encryption, cultural exploration, community building, and on-chain creativity. Its mission is to build the world's largest on-chain community, driven by a cultural economy, leveraging ZK Stack and EigenDA to deliver cheap, fast, and secure transactions. Abstract was invented by individuals who launched and expanded Pudgy Penguins, Ethereum, and Kubernetes. Abstract Team Information:Michael Lee is the co-founder and CEO of Abstract. He previously served as the Senior Vice President of Growth at Matter Labs and has worked at Activision, Blizzard, and DFINITY. Michael Lee graduated from the University of Chicago and Northwestern University's Kellogg School of Management.Hedge is the Chief Community Officer of Abstract.Brian Hong is the Head of Growth for the Asia-Pacific region at Abstract.Abstract Funding: On July 23, 2024, Abstract announced the completion of an $11 million funding round led by Founders Fund, with participation from Fenbushi Capital, 1kx, EVG, and Selini Capital. This funding will support Abstract in advancing its technology development, ecosystem expansion, and market promotion, accelerating its innovative positioning in the blockchain industry. On January 10, 2025, Abstract completed a $4.8 million funding round led by Communitas Capital and Bonfire Ventures. Core Features of Abstract: Abstract aims to provide developers and users with a smoother and more efficient Web3 experience. Based on zero-knowledge proof (zk-Rollup) technology, it ensures security while significantly optimizing transaction speed and reducing Gas fees, making it more suitable for large-scale consumer applications. The core features of Abstract are designed around scalability, accessibility, and developer-friendly tools, including:zk-Rollup Technology: High Scalability & Low Gas Fees Abstract employs zk-Rollup to batch process transactions and submit them to the main chain, effectively enhancing scalability, reducing user Gas fees, and ensuring the efficiency and security of all interactions.Chain Abstraction: Simplifying Complexity, Enhancing User Experience Abstract uses Account Abstraction to eliminate the need for users to manage private keys or Gas fees, as all complex operations are automatically handled in the background. This seamless design provides a more intuitive and straightforward Web3 experience, making blockchain applications accessible even to non-technical users.Global Wallet (AGW): Private Key-Free & Account as Identity Abstract focuses on consumer-facing blockchain infrastructure, particularly for gaming, social, and DApp ecosystems. Its Global Wallet (AGW) allows users to log in via email or accounts without managing seed phrases, significantly lowering the entry barrier to Web3.Low Fees & High Throughput: Supporting Large-Scale Applications Abstract employs off-chain batch processing and optimized execution solutions to ensure the network maintains low costs and smooth, stable performance even in high-frequency interaction scenarios like gaming and social applications, making it suitable for large-scale consumer use.Cross-Chain Interoperability: Integrating LayerZero for Free Flow Abstract supports the free flow of assets and data through the LayerZero cross-chain protocol, enhancing user flexibility. Additionally, the Abstract Bridge facilitates efficient interaction between the Ethereum mainnet and Abstract Layer 2, further improving ecosystem interoperability.Future Development of Abstract: Abstract has transformative potential, aiming to lower the entry barrier to Web3 and deliver seamless blockchain experiences to a broader user base. By optimizing accessibility and reducing complexity, Abstract has the potential to drive mass adoption of cryptocurrencies, creating a more inclusive and equitable digital economy for global users. If successful, Abstract will not only reshape blockchain infrastructure but may also usher in a new era of financial freedom and innovation, making decentralized applications (DApps) more accessible to mainstream users. Although Abstract is still in its early stages, its consumer-centric vision is undoubtedly compelling. As its mainnet officially launches, it is worth keeping an eye on how it will shape the future of the crypto industry.

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