SEDA Modules can be purpose-built to support the unlock of locked resources within leading Chain Abstraction infra providers such as Onebalance
Chain Abstraction dominated crypto mindshare, sky-rocketing 160% across 2024. Over the last 12 months, leading projects have begun to release various frameworks to deliver on the promise of a Chain Abstracted UX for all. Chain Abstraction essentially allows users to interact with any app from a single account, free from the complexities of managing transactions across networks and virtual machines. Imagine being able to use USDC on base to buy NFTs on Solana, or Sol on Solana to buy BTC on the Bitcoin Network. These are a few of many benefits unlocked by Chain Abstraction.
Offering a unique framework is the OneBalance tookit, a chain-abstraction solution that uses a mechanic called Resource Locks. Resource Locks temporarily lock up the specific asset and amount a user wants to spend on a transaction. Assets are then unlocked after fulfilling particular conditions, such as successful execution or expired time conditions.
This article will explore how OneBalance Resource Locks operate to power Chain Abstraction and SEDA’s role in supporting verification processes with data validation execution necessary necessary to settle Resource Locked transactions.
1. What Are Resource Locks?
The OneBalance High-Level Transaction Flow.
- User initiates intent in app e.g. “Buy Pudgy Penguin NFT on Ethereum using $100 USDC on Base.”
- The intent is proposed to a Solver Network, where Solvers bid for the right to execute the intent.
- When a winning Solver is selected, the user assets (in this case, $100 USDC) plus the Solver fee are temporarily locked.
- The Solver executes the user intent following the conditions outlined by the user (Buy XPudgy Penguin NFT on Ethereum)
- The Solver transaction is verified by a third party (like SEDA), and a verification proof (a receipt) is sent to the origin chain.
- The origin chain uses the receipt to confirm the transaction to unlock the user assets and send them to the Solver (including their fee).
- The transaction is settled.
For a deeper, technical look at the OneBalance transaction flow, visit:
Where and how do Resource Locks come into play?
Let’s imagine the user issues the intent to use $100 USDC on Base to buy an NFT on Solana. The resource in this transaction is the user’s $100 USDC on Base. Once the user has agreed to the Solver quote, their $100 USDC plus the Solver’s service fee is temporarily locked, which is the “Resource Lock.”
Resource Locks are bound by what OneBalance calls a “Credible Commitment.” When user resources are locked, a Credible Commitment is created, which is the user’s intent plus the specific conditions determining whether the transaction is reverted or successful, necessary to unlocking resources.
Conditions within a Credible Commitment may include:
- The users desired outcome (their intent), such as buying X NFT on Solana.
- A transaction time limit, which, when expired, returns resources to the user.
- A predefined time to trigger verification only after destination chain finality.
With the Resource Lock secured by the Credible Commitment Machine, the selected Solver can complete the user transaction as specified without worrying that the user may “double spend.”
By setting custom conditions within a Credible Commitment that manages the Resource Lock, both users and Solvers have better risk protection. Time expiry conditions ensure that if a Solver cannot complete the intent, resources are returned to the user after a specified period. By not triggering verification of the Solver’s transaction on the destination chain until finality, Solvers cannot run off with user funds if a destination chain experiences a “re-org” event, protecting users.
2. How Is SEDA Verification Used Within Resource Locks
SEDA’s programmable nature provides the flexibility and configuration to support OneBalance’s verification requirements. As each destination chain has varied settlement times, and Credible Commitment conditions may vary, OneBalance could customize a SEDA Verification Module for programmable verification of any Solver transaction data.
Verification Modules on SEDA include the instructions defined by the protocol. For Resource Locks, this would consist of parameters such as:
- What Blockchains OneBalance needs to query.
- What conditions must be met to trigger a verification request.
- How data should be returned for OneBalance consumption.
SEDA can verify the state on any blockchain deployed by the SEDA permissionless prover contract and has an available RPC endpoint. When a data request for verification is triggered (after conditions such as finality are met), a secret committee of overlay compute nodes queries multiple RPC data providers for the destination chain state. The nodes return their results, aggregated and filtered according to parameters set by the protocol. The results, in this case, a verification proof, are relayed by a decentralized Solver Network to the Origin chain. OneBalance uses this verification proof to confirm the Solver has executed the user transaction and unlocks user resources, sending them to the wallet for transaction settlement.
Resource Locks | Powering The Chain Abstracted Future
While still in Beta and SEDA in its final stage of Devnet, both projects are pioneering solutions that will power the Chain Abstracted future for Web3. While several frameworks exist to provide users with a single account balance usable on multiple chains, Resource Locks offers unique benefits and protection to Solvers and users. With 1000s of chains set to release over 2025, collaboration is key to scaling Chain Abstracted experiences to every network. As SEDA can verify the state of any network from day one, Verification Modules on the SEDA Network stand to be a powerful addition to the OneBalance Resource Lock framework.
To experience the power of Resource Locks for secure transactions on any network, check out the OneBalance Beta version: https://onebalance.io
SEDA’s programmable nature provides the flexibility and configuration to power OneBalance verification requirements. As each destination chain has varied settlement times, and Credible Commitment conditions may vary, OneBalance could customize a SEDA Verification Module for programmable verification of any Solver transaction.
Verification Modules on SEDA include the instructions defined by the protocol. For Resource Locks, this would consist of parameters such as:
- What Blockchains OneBalance needs to query.
- What conditions must be met to trigger a verification request.
- How data should be returned for OneBalance consumption.
SEDA can verify the state on any blockchain deployed by the SEDA permissionless prover contract and has an available RPC endpoint. When a data request for verification is triggered (after conditions such as finality are met), a secret committee of overlay compute nodes queries multiple RPC data providers for the destination chain state. The nodes return their results, aggregated and filtered according to parameters set by the protocol. The results, in this case, a verification proof, are relayed by a decentralized Solver Network to the Origin chain. OneBalance uses this verification proof to confirm the Solver has executed the user transaction and unlocks user resources, sending them to the wallet for transaction settlement.
Resource Locks | Powering The Chain Abstracted Future
While still in Beta and SEDA in its final stage of Devnet, both projects are pioneering solutions that will power the Chain Abstracted future for Web3. While several frameworks exist to provide users with a single account balance usable on multiple chains, Resource Locks offers unique benefits and protection to Solvers and users. With 1000s of chains set to release over 2025, collaboration is key to scaling Chain Abstracted experiences to every network. As SEDA can verify the state of any network from day one, Verification Modules on the SEDA Network stand to be a powerful addition to the OneBalance Resource Lock framework.
To experience the power of Resource Locks for secure transactions on any network, check out the OneBalance Beta version: https://onebalance.io
