To establish a Modular Execution Environment (MEE), Biconomy, a provider of account abstraction for Web3 and decentralized applications (DApps), has acquired Klaster, a blockchain abstraction specialist.
One of the primary objectives of the acquisition is to enhance the user experience and simplify blockchain complexities for developers through the development of the MEE, a conceptual framework.
The MEE would be constructed on the modular blockchain stack to facilitate the trustless and expressive implementation of Supertransactions, according to a press release shared with Cointelegraph.
Supertransactions enable developers to construct cross-chain applications and use cases without writing intricate smart contracts using Merkle trees and crypto-economic guarantees.
MEE function in the blockchain
The MEE enables executing multiple blockchain operations in a single action without requiring direct, smart contract interactions.
This method ensures blockchain operations are more secure and scalable while reducing the need for intricate smart contracts.
MEE integrates account and chain abstraction technologies to create a more adaptable development approach that supports both on-chain and off-chain operations.
Ahmed Al-Balaghi, the co-founder of Biconomy, stated in an interview with Cointelegraph that the acquisition will enable users to “experience easier ways of using anything onchain.”
“This acquisition is of significant importance to the industry because it unites two tech stacks that are highly complementary, resulting in a sum significantly greater than the sum of its parts,” he stated.
Enhancements to Chain abstraction
This latest acquisition combines Klaster’s background and expertise in chain abstraction with Biconomy’s account abstraction solutions to address the limitations of blockchain technology.
Klaster has developed technology that allows developers to interact with multiple networks through simplified workflows by specializing in cross-chain operation management.
This integration, when combined with Biconomy’s technology, has the potential to facilitate a broader spectrum of applications and reduce friction and complexity in cross-chain transactions.
Objectives for the future
Biconomy’s acquisition of Klaster is anticipated to accelerate the company’s Web3 innovation and product development, with MEE contributing to developing a more user-friendly, versatile, and enhanced execution framework.
The modular approach and recent acquisition are in response to Biconomy’s integration of artificial intelligence agents in June, which facilitates onchain transactions on behalf of users.
Aniket Jindal, the co-founder of Biconomy, explained to Cointelegraph that the AI agents could enable users to delegate specific transactional duties and authorizations to AI agents within predefined parameters.
