Biconomy

Biconomy, a provider of account abstraction for Web3 and decentralized applications (DApps), has acquired Klaster, a specialist in blockchain abstraction, to establish a Modular Execution Environment (MEE).
The acquisition will focus on developing the MEE, a conceptual framework intended to simplify blockchain complexities for developers and improve user experience.
A press release shared with Cointelegraph stated that the MEE would be built on the modular blockchain stack to enable the trustless and expressive execution of Supertransactions.
Supertransactions use Merkle trees and crypto-economic guarantees to allow developers to build cross-chain applications and use cases without writing complex smart contracts.
<figure><img alt="Decentralization, DApps, Web3" src="https://s3.cointelegraph.com/uploads/2024-11/0192f73c-e69e-771e-b299-aca2dd9734a9" title="">
 <figcaption style="text-align: center;">
 Infographic workflow of a Supertransaction Hash. Source: Biconomy
 </figcaption>
</figure>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/biconomy-ai-agents-on-chain-transactions" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Biconomy onboards AI agents for onchain transactions</a>
<h2 id="mee-s-role-in-blockchain">MEE’s role in blockchain&nbsp;</h2>
The MEE allows multiple blockchain operations to be executed in a single action without requiring direct, smart contract interactions.&nbsp;
This approach is intended to decrease the necessity for complex smart contracts while maintaining improved security and scalability of blockchain operations.
MEE combines account and chain abstraction technologies to establish a more flexible means of development that accommodates onchain and offchain operations.
Speaking with Cointelegraph, Ahmed Al-Balaghi, the co-founder of Biconomy, explained that the acquisition will allow users “to experience easier ways of using anything onchain.”
“This acquisition matters a lot for the space because it brings extremely complementary tech stacks together where the whole is far greater than the sum of its individual parts,” he said.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/biconomy-raises-11-5m-through-coinlist-token-sale" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Biconomy raises $11.5M through CoinList token sale</a>
<h2 id="chain-abstraction-improvements">Chain abstraction improvements</h2>
Klaster’s background and expertise in chain abstraction come together with Biconomy’s account abstraction solutions through this latest acquisition to tackle blockchain limitations.
By specializing in cross-chain operation management, Klaster has developed technology that enables developers to interact with multiple networks through simplified workflows.
Paired with Biconomy’s tech, this integration opens the door to potentially reduced friction and complexity in cross-chain transactions and support for a wider range of applications.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/biconomy-s-hyphen-enables-low-cost-transfers-between-ethereum-and-polychain" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Biconomy launches cross-chain transaction infrastructure for EVM chains</a>
<h2 id="long-term-goals">Long-term goals</h2>
Biconomy’s acquisition of Klaster is expected to expedite the firm’s Web3 innovation and product development, with MEE helping create an improved, user-friendly and versatile execution framework.
The modular approach and new acquisition follow Biconomy’s onboarding of artificial intelligence agents in June, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/biconomy-ai-agents-on-chain-transactions" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/biconomy-ai-agents-on-chain-transactions">enabling onchain transactions on behalf of users.</a>
Biconomy co-founder Aniket Jindal explained to Cointelegraph that the AI agents could allow users to delegate specified transactional tasks and authorizations to AI agents within predefined parameters.
 Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/ethsafari-brings-crypto-world-to-africa-and-africa-to-the-crypto-world/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">We took an ETHSafari to see how crypto is working out in Africa</a>

Biconomy acquires Klaster to launch modular execution environment

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Cointelegraph

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