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What Is Abstract? The Consumer Crypto Blockchain From the Creators of Pudgy Penguins

Author: Content Editor
Igloo Inc., the parent company of NFT collection Pudgy Penguins, is launching a new blockchain called Abstract. Abstract is a ZK-rollup and layer-2 blockchain built on Ethereum that aims to be the leading blockchain for consumer-focused crypto products and applications. It differentiates itself by focusing on specific applications and protocols that align with developer and consumer interests, such as games and social platforms, before expanding to other on-chain activities like decentralized finance. Abstract is EVM compatible, meaning that existing Ethereum-based smart contracts can be easily ported to the platform. The project has developed its own global wallet that requires no extension or secret phrase and does not charge gas fees. Abstract has also introduced Panoramic Governance, a new governance design that incentivizes participation and rewards beneficial protocols. The ecosystem will include games, trading platforms, social products, and infrastructure upon its mainnet launch in January 2025.

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