Despite the vast number of crypto investors worldwide, the majority still favor centralized custodians due to issues like complexity and poor user experience in DApps and crypto wallets. Plena leverages account abstraction technology to simplify blockchain interactions, aiming to boost global crypto adoption using smart contract-powered crypto wallets.

Research indicates over 420 million crypto investors worldwide, yet nearly nine out of ten users still prefer centralized custodians or other centralized exchanges like Binance and KuCoin. The situation is primarily caused by the complexity of decentralized applications (DApps) and crypto wallets, the necessity of using native tokens in trades and the poor user experience.

Account abstraction — a concept that simplifies how users interact with their accounts on the blockchain — stands as a promising model to address issues that hinder the global adoption of crypto.

As proposed by Ethereum co-founder Vitalik Buterin, account abstraction offers an improvement in security and usability by reducing the reliance on a single point of failure, like smart contracts or private keys. ​Experts claim that account abstraction could attract a billion new users to Web3 by providing the convenience of using a traditional application.

Contrary to popular belief, the blockchain ecosystem had already begun exploring similar innovations before Buterin’s proposal was published. Plena, a crypto super app, was among the early birds in integrating the technology into its application, showcasing the practical benefits of account abstraction.

Getting full custody of digital assets

Plena offers the convenience of a centralized exchange by combining full custody of assets and account abstraction. As a participant in the Cointelegraph Accelerator program, Plena removes the need to understand blockchain deeply or hold different tokens for transactions across various networks.

Beyond trading, Plena includes tools like social networking, smart investing and market insights sharing to encourage community engagement.

Featuring a centralized app-like experience, Plena offers full custody over funds. Source: Plena

The Plena crypto super app, which can be downloaded from the Google Play Store and App Store, is designed with users in mind and gives traders an automated purchasing feature.

With a streamlined registration process, users can create an account using familiar social media platforms such as Gmail, Twitter or Facebook, serving as a gateway to the crypto market. Plena maintains a commitment to privacy by not storing any user information.

Plena allows users to perform complex blockchain activities, such as providing liquidity to a DEX with one click — which would typically require multiple steps. Furthermore, users can access a selection of thousands of cryptocurrencies and receive reasonable rates with minimal effort.

Enhanced UX with account abstraction SDK

Plena has released a new account abstraction software development kit (SDK) known as Plena Connect to improve user interactions in DApps. With Plena’s SDK, DApp developers can enhance user experience without changing their existing codebase.

The platform aims to create a seamless interaction process, simplify the user experience and advance blockchain adoption with its account abstraction SDK.

Users can trade, transfer or bridge crypto across multiple chains with a single tap. Source: Plena

With this SDK, Plena expects to open the door to users who are not familiar with the complexity of blockchain operations and encourage innovation by providing a more accessible blockchain developer environment.

Imagine buying an NFT on a marketplace like Axie Infinity traditionally. You’d need to first acquire AXIE tokens and then ensure you have Ether (ETH) for gas fees. If the user earns their salary in PLENA tokens and prefers to use them for the purchase, Plena Connect simplifies the process. By connecting their Plena wallet to the marketplace, users can directly buy the NFT with PLENA tokens.

With a single click, Plena automatically handles the conversion from PLENA to the necessary AXIE and ETH, including batching transactions to save on gas fees by up to 30%. The streamlined experience showcases the practical utility of Plena Connect in making blockchain transactions straightforward for users.

Ensuring self-custody is accessible to everyone

Plena has processed over 5 million transactions and saw more than $30 million in funds deposited by users. The platform also integrated over 150 DApps through its account abstraction SDK. In addition to its 170,000 registered users, Plena has a community of 200,000 enthusiasts and professionals.

In response to the growing community support, Sparsh Jhamb, CEO and co-founder of Plena, said:

“At Plena, our mission is to simplify DApps and self-custodial wallets, making it effortless for anyone to securely manage their funds with full autonomy. We’re simplifying the complex, making self-custody accessible to all.”

To further engage with its community and reward early supporters, Plena is collaborating with its launch partners, including DAO Maker, Chain GPT and Vixen, to conduct an airdrop on Galxe, distributing 2% of its total supply.

As digital wallets and DApps become easier to use, the adoption of decentralized technologies will increase. Innovations like account abstraction lower barriers, making it easier for individuals without a technical background to participate in blockchain and benefit from it. The network effect will likely spur more innovation, investment and mainstream adoption of crypto.

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