The dappOS V2 roadmap includes new features such as unified accounts, task-related order execution, and a brand-new bidding system.
Author: angelilu, Foresight News
dappOS, a Web3 operating protocol, recently announced the completion of its seed round financing at a valuation of $50 million. The round was led by IDG Capital and Sequoia China, with participation from OKX Ventures, HashKey Capital, KuCoin Ventures, TronDao Ventures, Gate Labs, Taihill Ventures, Symbolic Capital, Foresight Ventures, BlueRun Ventures, Mirana Ventures, Leland Ventures, and others.
dappOS first appeared in people’s field of vision when it was selected for the fifth season incubation program of Binance Incubator in November 2022, and received Pre-Seed investment from Binance Labs in June 2023.
Recommended reading: “How dappOS, Invested by Binance Labs, Builds the Web3 Operating Protocol”
dappOS: An operating protocol that enhances user usability
Why is dappOS able to stand out among many protocols and gain favor from crypto venture capitalists such as Binance Labs and Sequoia? First, let’s see what problems it can solve.
In the process of traditional Internet development, the release of the operating system “Windows 1.0” allowed users to interact with computers through a graphical user interface, ushering in the era of “usability” and laying a certain technological and user foundation for the popularization and vigorous development of the Internet. So, what is the key to solving this problem for the widespread adoption of Web3?
There are many possible solutions to the problem of widespread adoption of Web3, but from the perspective of the user growth funnel model, understanding the number of users in a certain field and the number of users who eventually enter and use its products is like a funnel, with a significant loss of quantity. The conversion rate of the users plays a key role in determining the size of the “funnel neck”. Most of the people who are stuck at the “funnel neck” during the expansion process of Web3 are directly deterred by obscure “terms” such as public chains, wallets, and private key assistants. If users can understand or even ignore these concepts, new users will find it easier to get started.
This is exactly what dappOS is doing, namely, establishing an operating protocol that is more user-friendly for new users and reducing barriers for users to interact with cryptographic infrastructure (such as public chains and cross-chain bridges).
dappOS V2 will integrate top DeFi projects such as Curve
Recent important developments of dappOS include the release of the V2 roadmap on July 7th, which previewed new features such as unified accounts, task-related order execution, and a brand-new bidding system in the V2 version.
The initial batch of supported projects in the V2 version includes top DeFi projects such as Benqi, Cheems, Curve, DeFi Kingdom, Frax Finance, GMX, KyberSwap, Lido, Perpetual, QuickSwap, StarryNift, SyncSwap, and SynFutures. After the official release of V2, it will attract more users from these projects to the dappOS ecosystem, further enriching and expanding the application scenarios of dappOS.
Unified Account Function Based on “Account Abstraction”
Web3 natives already have so many “accounts”. Is it necessary to use another dappOS account? Vitalik Buterin recently proposed three transformations that Ethereum must undergo in order to be more widely adopted. These transformations include L2 scalability transformation, wallet security transformation, and privacy transformation. Vitalik pointed out that these three transformations will weaken the mental model of “one user ~= one address” in different ways, which means that users will have more and more accounts. Along with this, issues such as encrypted information transmission and privacy protection will arise, and users will feel increasingly difficult to manage their accounts.
The unified account function in dappOS V2 allows users to manage all assets on all chains with one account, and can interact with different applications on different chains, improving the efficiency of fund utilization and potentially achieving “Web3 overall consistency”.
The unified account function in dappOS is based on the technology of “account abstraction”. In the opening ceremony of the recent EthCC conference, Vitalik Buterin once again mentioned that “account abstraction” is “very elegant” and believes that it is the future of smart contract wallets. He said that in the future, everyone will switch from the current EOA wallets to smart contract-based wallets. If successful, managing encrypted wallets will become as simple as managing email accounts. While most people are still trying to understand the wonders of “account abstraction”, dappOS has already built landing applications based on “account abstraction”, which not only allows users to get rid of mnemonic phrases when using them, but also lays the foundation for functions such as gas fee payment and automated execution of task-related orders.
From Account Abstraction to Chain Abstraction
“Abstraction” is the core of dappOS design and the key to its usability. Account abstraction refers to hiding the complex information inside a blockchain account, allowing users to operate the account without directly dealing with concepts such as addresses, private keys, and mnemonic phrases. Similarly, the architecture design of dappOS is further extended based on account abstraction to achieve “chain abstraction”, allowing users to not be aware of which chain’s application they are using, how to cross chains, and how to pay for gas, etc., and ultimately achieve the purpose of transactions. This provides a smoother interactive experience for both users and protocols.
Unlike the complex process of most mainstream mobile wallet interactions, users only need to pay attention to the total amount of assets and can make combined payments on any chain where the assets are located. When interacting with dApps, client users do not need to bear the burden of gas payment, asset bridging, approval, and other auxiliary contract interaction steps. They only need to confirm the total cost and click once to confirm.
At the protocol level, the dApp SDK allows users of chain A to use the dApps of chain B without configuring a new wallet and manually operating asset cross-chain. This provides a shortcut for project parties to develop multiple chains. In addition, integrating dappOS into decentralized applications on multiple chains can weaken the user boundaries between different chains and create a more unified liquidity.
Service Node Bidding System
When performing operations across the entire chain, cross-chain transactions are often a concern for users. How does dappOS help users carry out operations on different chains? The core logic of transactions in the dappOS Network is to have service nodes package and execute the interaction orders initiated by users. There are two types of nodes in the dappOS network: super nodes and server nodes. Super nodes receive users’ orders and delegate them to appropriate server nodes, and they are also responsible for penalizing server nodes for improper behavior. Server nodes, on the other hand, receive commands from super nodes and earn profits by executing them.
One issue to consider when using nodes to compete for transactions is whether certain nodes will earn too much transaction fees, thereby weakening the decentralization aspect. How does dappOS ensure decentralization while guaranteeing user friendliness? One key point is that the selection of server nodes is similar to dPos chains, where the chain with the most staking becomes an active super node.
In addition, the new version of dappOS V2 will introduce a brand new node bidding system. This system allows users to see a list of service nodes and display the fees and time required by each service node to complete a target transaction. Users can autonomously choose the optimal service node for different transactions to improve transaction efficiency and reduce transaction costs.
Since its debut, dappOS has been making great strides and has achieved several important milestones. Investments from well-known institutions such as Binance Labs and Sequoia Capital endorse its development potential. dappOS is also actively preparing to launch the new V2 version, collaborate with more projects, enrich and expand its application scenarios, and contribute to the development of Web3.