From account abstraction to multi-chain account generalization, one article understands the highlights of CyberConnect V3 upgrade

Original compilation: Karen, Foresight News

Account abstraction is expected to drive the singularity moment of mass adoption of Web3. With the absolute advantages of convenient operation, gas-free experience, fee payment, social login, social recovery, etc., account abstraction was mentioned again by Vitalik at the Ethereum Community Conference (EthCC) held in Paris recently, "If it succeeds, then managing encrypted wallets will become as easy as managing email accounts."

Not only wallets, but Web3 social networks have also begun to use account abstraction to improve the convenience and ease of use and multi-chain versatility of their social accounts.

In the upcoming protocol V3 version of CyberConnect, the new multi-chain account system is compatible with ERC-4337, which can eliminate the complexity of Gas payment for C-end users and improve the smoothness of social experience, while improving the multi-chain versatility of CyberConnect identity accounts. Throughout the iterative history of CyberConnect, it can be seen that it has pursued the actual decentralized social experience and scalability from the beginning to the end. The V3 upgrade is a firm step forward in the multi-chain path and universal identity system that it has explored since the first generation. The path differences between different mainstream social protocols are also becoming more and more obvious, which deserves attention.

What are the highlights of the CyberConnect V3 upgrade?

CyberConnect is one of the largest Web3 decentralized social networks, aiming to break down the social barriers between different platforms and different chains, enabling users to truly dominate their own social identity, relationship, content, and monetization methods.

The upcoming CyberConnect V3 has the following highlights:

• Expand to more EVM compatible chains;
• Compatible with ERC-4337, using account abstraction to eliminate the complexity of network switching and lower the threshold for users;
• Provide a Web2 experience without mnemonic words, allowing registration of smart contract wallets by email or phone number;
• The enabling utility and governance token CYBER allows users to recharge Gas deposits on one chain and use them on other chains. In the future, CYBER will be used as the Gas token of the entire protocol.

CyberConnect V3 framework

Knowing the overall framework of CyberConnect V3 helps to understand the highlights after the upgrade. CyberConnect V3 has three core components, namely:

• CyberAccount: an identity infrastructure compatible with ERC-4337;
• CyberGraph: A censorship-resistant database for recording user content and social relationships;
• CyberNetwork: Low-cost and scalable network.

CyberAccount: Using account abstraction to improve Web3 experience

From the perspective of the CyberAccount framework, as the account infrastructure of CyberConnect, CyberAccount is a set of smart contracts that together represent the user's self-sovereign digital identity, mainly covering four key components:

One is authentication and authorization, which is responsible for defining the user authentication and authorization workflow of the CyberConnect protocol. Users will be able to register and log in with traditional social accounts, mobile phone numbers, and email addresses, and perform social recovery when needed. This part is implemented in cooperation with ZeroDev.

The second is compatible with ERC-4337, which is also the most anticipated upgrade. Specifically, CyberConnect deployed an in-house Bundler and Paymaster solution by partnering with account abstraction platforms Stackup and Pimilico.

Both Bundler and Paymaster play key roles in ERC-4337. Among them, Bundler packages the user operations in the Mempool pool and delivers them to the entry contract on Ethereum for execution. Paymaster is a smart contract that can pay Gas on behalf of the user, which can significantly improve the CyberConnect protocol and any DApp that pays Gas instead of users.

As previously mentioned, on CyberConnect, users will also be able to top up their gas credits from the network of their choice and spend those credits on other chains. The native token CYBER released in April will eventually be used as the gas token of the entire protocol. CYBER TGE is expected to be completed in the fourth quarter of 2023.

Next is CyberID, which is similar to the Twitter username. CyberID is designed as an ERC-721 token, representing a unique account Handle in the CyberConnect network. CyberID does not imply perpetual ownership, but operates on a demand-based fee model, and if users forget to renew, their CyberID will be auctioned off.

Lastly is the organizational account. CyberConnect Social is not just for individual users, teams, organizations and brands can also connect with their audiences.

CyberGraph: Deepen the social graph and provide custom logic for middleware architecture

The CyberGraph smart contract can be understood as a social graph, which can link user identities (CyberAccons) with their content and social relationships, and record these massive social data into multiple EVM compatible chains.

CyberConnect is also accumulating the creator economy, providing artists and creators with a new experience that can be monetized, and their fans or users can collect content. In addition, every time a user comments on a piece of content on the CyberConnect network, a connection to the original content will be established on the smart contract, ensuring the sovereignty and provenance of the content.

Soul-bound token W 3 ST (Web3 Status Token) is a popular feature in CyberConnect V2. Projects, DAOs, organizations, etc. can publish activities, and users can participate in these activities to obtain W 3 ST, which is used to record the participation status and digital reputation of users participating in Twitter Spaces, Discord Channel and other activities on the chain. CyberConnect said, “In V3, W 3 ST will save more gas and make it easier to discover activities.”

CyberConnect believes that creators can not only monetize their content, but also earn income from their accumulated social relationships. In V3, when users enable the subscription function, they must set subscription logic and set a monthly subscription fee. When their fans subscribe to you, they need to pay at least one month's subscription fee in advance.

In addition, CyberGraph also provides developers with a space to customize logic through the middleware architecture. For example, if a DApp wants to build a social network for the BAYC community, it can be set that only BAYC holders can cast their specific content NFT (ContentNFT).

CyberNetwork: Low-cost and scalable network

At present, the specific details of CyberNetwork have yet to be announced. However, it is worth noting that CyberConnect combined on-chain and off-chain data solutions in V2, which shows that it always takes into account the actual user experience and scalability required by high-frequency social interaction. “In the coming months, CyberConnect will introduce additional upgrades to make all social interactions or transactions less expensive,” the team said.

Compared with the focus and advantages of Lens

Coincidentally, Lens, a social network protocol that is highly comparable to CyberConnect, also released a new version V2 last week, which is mainly upgraded in terms of composable social networks, shared value mode, and using ERC-6551 empowered Profile as a wallet.

However, compared to Lens, CyberConnect focuses more on continuous improvement in terms of openness, multi-chain, identity account versatility, and ease of use. CyberConnect firmly believes that Web3 social networking and Web3 as a whole must be multi-chain in the future, and has been exploring multi-chain in previous versions. V3 will also pay more attention to ease of use and multi-chain versatility of accounts and Gas tokens through account abstraction. The core ERC-4337-compatible CyberAccount in V3 also greatly reduces the threshold for users to enter Web3, and can create and own their own multi-chain identity accounts more easily. The daily experience does not need to feel the existence of multiple chains or even Gas, which is close to Web2. Perhaps this will be an important step in the popularization of decentralized social and even the entire Web3.

In addition, CyberConnect's data performance continues to be strong, and it has a relatively large active user group. As of writing, there are nearly 1.25 million profiles registered on the CyberConnect network, which is more than 10 times that of Lens, which is currently in closed testing, and its monthly active users (UAW) reached a peak of 730,000 in March this year. It is worth noting that Link 3, which is also the head product of CyberConnect's ecosystem, is excellent in terms of data and influence. About 800,000 monthly active users have made a relatively large contribution to the CyberConnect ecosystem, and it is also expected to lead and support the development of other DApps in the ecosystem. The number of users and active data may not be the only indicators of protocol development, but we can also see the degree of attention of different protocol products to mass users.

Source: Dune

Summary

Different from various products and protocols that imitate traditional social networking and overemphasize data on-chain, CyberConnect is starting from the actual needs of users and applications such as usage threshold, multi-chain account universality, convenient interaction, and monetization of creators. It is seeking breakthroughs on a steady basis, trying to create more open, easy-to-use, and more friendly to C-end users and DApps through account abstraction, multi-chain sharing of Gas deposits, token utility, and monetization of content and social relationships.

In the face of the size of the overall Internet social media, Web3 social networking still has great room for growth, but this V3 upgrade of CyberConnect is expected to lead decentralized social networking to a more popular future for real users.

The social track currently shows increasingly different development paths and the cognitive thinking behind the team, and we will continue to pay attention to the next development.