Rahat Chowdhury, the Head of Blockchain Relations at Biconomy, recently shared insights into the Biconomy SDK during his presentation at EthGlobal in New York. He highlighted the significance of “Modules” and how developers can maximize its potential.
Biconomy, a platform dedicated to supporting Web3 developers and transaction infrastructure, aims to empower developers in delivering seamless user experiences.
While Biconomy is primarily constructed on the Near protocol, it serves as a cross-chain relayer infrastructure and transaction network.
Its ultimate goal is to simplify the process for DApp users by eliminating blockchain complexities, such as gas fees and network switches, whenever they wish to execute transactions or transfer value.
It is built with JavaScript and allows developers to use the tools they already know to build apps that engage users while fostering an open web free from centralized platforms.
Additionally, it has its primary crypto token known as BICO, which can be traded on most crypto exchanges or staked in the Biconomy platform to earn interest.
Introduction to Biconomy
Speaking at the event, he broke down the various components of Biconomy’s SDK and how it enables developers to tap into the full stack of account abstraction. This includes paymasters, bundlers, and packages for creating smart accounts.
The Smart Account Package enables developers to deploy their smart accounts, allowing user operations to be executed as transactions.
The Paymaster Package simplifies the developer experience by providing a single URL to switch between gasless transactions and ERC-20 token payments for gas.
Additionally, the Bundler Package offers bundlers on different chains to forward user operations to entry-point contracts on supported chains.
He went ahead to narrow his presentation on the Smart Account architecture of Biconomy.
Smart Accounts on Biconomy
He said that the Smart Account system of Biconomy allows developers to create and use different modules when developing their Dapps on Biconomy. The first module he mentioned was the Regular ECDSA Module.
This module relies on an externally owned account (EOA) to sign and verify messages, similar to its previous version.
An EOA is a type of account that is owned by an external user and is used to interact with the Biconomy platform.
Next, Rahat discussed the Multi-Chain Validation Module. This module allows users to utilize an EOA to sign transactions that can interact across multiple chains, eliminating the need for network switching.
Lastly, he mentioned Session Key Managers, which enable users to sign once and perform multiple transactions without repeated signing.
This feature enhances user experiences by creating seamless interactions, similar to Web 2.0 social platforms where users don’t need to sign in for every interaction.
Live demo and use cases of Modules
In the course of the workshop, the Head of Blockchain Relations, ran a live demo to showcase how the Biconomy Modules operate.
The demo was designed to reveal the convenience and user-friendly nature of Biconomy’s session key management system.
Towards the end of the session, he also encouraged developers to explore various use cases and build innovative solutions using Biconomy’s modules.
Some of the use cases he mentioned are payment subscriptions, where with the help of the module, merchants can withdraw funds from a smart account, which simplifies recurring payments and subscriptions; automated token trading; NFT rentals; gaming modules by implementing session key management to enhance the gaming experience, reducing the need for repeated transactions; wallet burner factory that allows users to create temporary “burner” accounts for specific transactions, enhancing privacy and security.
