Understand Intents in Web3: A New Era of User-Centric Blockchain

Table of Contents

Web3 is the future of the internet, a decentralized and user-centric paradigm that promises more control and privacy. However, navigating the complex world of Web3 applications can be daunting. That's where "Intents-Centric" design comes into play. In this article, we'll explore the concept of Intents-Centric and how it is reshaping the user experience in Web3. Let's dive in!

I. What Are Intents?

Definition of Intents-Centric

Imagine ordering a cup of coffee in a café. When you place your order, you don't need to know the intricate details of brewing the perfect espresso; you simply express your intent to have a latte. In Web3, Intents work similarly. They allow users to state what they want to achieve without worrying about the technicalities. It's like placing an order at a restaurant without specifying the cooking process.

At its core, an Intents-Centric model in the context of blockchain and decentralized applications (dApps) is a paradigm that prioritizes the user's intentions, desires, and preferences when engaging with the technology. Instead of forcing users to grapple with the intricacies of blockchain transactions, such as gas fees, smart contract logic, and complex user interfaces, the Intents model empowers users to express what they want to achieve in a simplified and natural way.

Preview of Key Concepts

To understand the significance of Intents, it's essential to grasp some key concepts:

Intents vs. Traditional Transactions

In the traditional blockchain model, users must meticulously craft and sign each transaction. They need to understand the technicalities of setting gas fees, writing smart contract code, and ensuring their transactions conform to the intricacies of the blockchain. This can be daunting for many users and often results in errors or inefficiencies.

In contrast, Intents simplify this process. Users express what they want to achieve, and the system takes care of the rest. It's a shift from the imperative "do this, then that" to the declarative "I want this." This transition makes interactions with dApps and blockchain networks more intuitive and efficient.

Role of Solvers

At the heart of the Intents-Centric model are solvers. These are entities responsible for interpreting and fulfilling user intents. Solvers play a pivotal role in finding the best path to execute user intentions, whether it's trading assets, moving funds across blockchains, or performing complex DeFi actions.

Solvers are motivated by incentives, striving to provide users with the most optimal outcomes. They navigate the complex web of blockchain networks, liquidity sources, and DeFi protocols to ensure that user intentions are met efficiently and cost-effectively.

Intents are a user's way of saying, "This is what I want to achieve," while solvers are the experts who make it happen.

II. Intents in Practice

Examples of Applications Leveraging Intents

The power of Intents isn't just theoretical; it's actively reshaping the landscape of decentralized applications (dApps). Let's take a closer look at how real-world applications are leveraging Intents to enhance user experiences:

COWSwap: Optimizing Trades with Intent-Centric Approach

COWSwap, a prominent decentralized exchange, has embraced the Intents model to provide users with a more efficient trading experience. It introduces batched transactions and off-chain solvers to mitigate the risks associated with Miner Extractable Value (MEV). The critical innovation here is "COWs" or Coincidence of Wants, which are off-chain Intents passed to solvers rather than individual transactions. These COWs are matched with others that can balance the opposite side of the trade, significantly reducing slippage. Moreover, COWSwap takes the concept a step further with multidimensional swaps, where multiple asset trades that don't directly offset each other can be executed together as a whole. It's a prime example of how Intents enable more complex and efficient trading strategies.

Uniswap X: Finding the Best Prices with Off-Chain Solvers

Uniswap X, a popular decentralized exchange, also harnesses the power of Intents. The platform employs off-chain MEV searchers and solvers that seek out the best prices for swaps. By offloading the complexity of transaction optimization to solvers, Uniswap X offers users an enhanced trading experience. This approach not only simplifies the user experience but also ensures that traders can access the most favorable prices in a highly dynamic and competitive market.

1Inch Fusion: Aggregating Liquidity with Intent-Centric Solutions

1Inch Fusion, a decentralized exchange aggregator, is another application that has embraced the Intent-Centric design. It aggregates liquidity from various decentralized exchanges, optimizing the user's access to the best prices and liquidity. With Intents, 1Inch Fusion can ensure that users' trade orders are executed efficiently, even across multiple exchanges. This approach streamlines the process of accessing liquidity and getting the best possible deals for traders.

The Role of AI in Enhancing Intents

The integration of artificial intelligence (AI) into the Intents model represents a significant advancement in the world of blockchain technology. Imagine having a robot chef in a restaurant who knows your favorite dishes and preferences even before you place your order. AI can play a similar role in the Intents ecosystem.

AI can help in several ways:

- Personalization: AI can learn from users' historical preferences and behaviors to predict their intents more accurately. This leads to a highly personalized experience where the system anticipates users' needs.

- Optimization: AI can optimize the matching of intents to ensure that users get the best possible outcomes. It can analyze a vast amount of data and market conditions to make intelligent choices.

- Efficiency: AI can streamline the entire intent-to-transaction process, making it faster and more efficient. It can also adapt to changing market conditions in real-time.

- Security: AI can enhance security by identifying and preventing potentially malicious intents. It can act as a guardian, protecting users from fraudulent or harmful transactions.

However, integrating AI into the Intents model is not without its challenges. Ensuring the privacy and security of user data, as well as fine-tuning AI algorithms for accuracy, are critical areas that need attention.

Benefits of Intents in Real Use Cases

In practice, Intents are delivering tangible benefits across various use cases:

- Efficiency: Intents simplify complex transactions, saving users time and effort. By expressing their preferences rather than specifying every detail, users can achieve their goals more efficiently.

- Optimization: The role of solvers in optimizing transactions ensures that users get the best possible outcomes. Whether it's finding the most favorable prices in trading or the fastest route in DeFi activities, Intents enhance optimization.

- Flexibility: Intents empower users with the flexibility to define specific conditions and constraints for their transactions. This flexibility is valuable in scenarios like limit orders, smart orders, and cross-chain interactions.

- Enhanced Security: The focus on user intents allows for improved security. By specifying their preferences and requirements, users can ensure that transactions align with their expectations and risk tolerance.

III. Intent-Centric Design and User Experience

1. Improving User Experience in Web3 DApps

The introduction of Intents in the Web3 ecosystem marks a turning point in the quest to improve user experience:

Simplified Interactions

Intents are designed to simplify user interactions dramatically. They allow users to express their preferences, desires, and intentions in a straightforward manner. Instead of dealing with the nitty-gritty details of how a blockchain transaction works, users can focus on what they want to achieve. It's akin to ordering a meal at a restaurant without needing to understand the intricacies of the kitchen.

Customized Transactions

While Intents streamline the user experience, they also provide a high degree of customization. Users can specify conditions, preferences, and constraints that are vital to their transactions. Whether it's setting specific price points for trading assets or scheduling automated actions based on predetermined criteria, Intents offer a level of flexibility that has been sorely lacking in Web3.

Multi-Party Bartering

One of the key innovations brought by Intents is the ability to facilitate multi-party bartering. Users can set conditions and requirements for transactions, and solvers work to match these intents with counterparts who can fulfill them. This opens up a world of possibilities, from conditional buying and selling to cross-chain asset transfers. It empowers users to engage in complex transactions without diving deep into the technical intricacies.

2. The Role of Intents in Multi-Party Bartering

Intents play a pivotal role in the realm of multi-party bartering, where numerous parties collaborate to meet specific transaction conditions. This approach offers several advantages:

Conditional Transactions

With Intents, users can set specific conditions for their transactions. For example, they might want to purchase an asset only if its price falls below a certain threshold. This level of customization and automation ensures that users can make transactions that align perfectly with their preferences.

Cross-Chain Interactions

In a world with multiple blockchains and Layer-2 solutions, the ability to conduct transactions seamlessly across different networks is invaluable. Intents enable users to express their intent to move assets from one chain to another, allowing for cross-chain interactions without the complexities that users would typically face.

Enhanced User Control

Intents put users in the driver's seat, allowing them to take control of their transactions and interactions. They can set conditions, preferences, and constraints to ensure that their transactions meet their expectations. This level of user control enhances the overall experience and builds trust in the system.

3. Ensuring User Accountability and Incentives

To ensure the success of the Intent-Centric model, it's crucial to establish mechanisms that promote user accountability and incentives for participants:

Reputation-Based Systems

Reputation-based systems can play a vital role in building trust among users and participants in the Intent-Centric ecosystem. Users who delegate the searching and transaction fulfillment to solvers need to have a level of accountability and trust in the system. By tracking user engagement and holding solvers accountable for their performance, reputation-based systems can enhance the overall reliability of the system.

Aligning Incentives

Ensuring that solvers are appropriately incentivized is a critical aspect of the Intent-Centric model. When solvers are motivated and rewarded for their efforts in fulfilling user intents, the system operates efficiently and fairly. Properly aligned incentives also encourage participants to act in the best interests of users, creating a win-win scenario for all parties involved.

IV. Components of Anoma's Intent-Centric Architecture

Ferveo and Private Mempool

MEV (Miner Extractable Value) is a challenge in Web3. To address this, encrypted mempools are introduced. Ferveo and private mempools, like Intel SGX or Distributed Key Generation (DKG) with threshold encryption, play a crucial role in securing transactions.

Path Authenticated p2p Intent Gossip Layer

The path-authenticated p2p intent gossip layer enables the dissemination of user intents. It allows for a wider distribution of intents, enabling complex intent matching and intermediate solvers to participate and be rewarded.

Typhon Consensus for Cross-Chain Atomic Transactions

Typhon consensus tackles the complexity of cross-chain atomic transactions. It optimizes transaction settlement and execution, ensuring that transactions are atomic, even across different chains.

Taiga for Shielded State Transitions

Taiga introduces shielded state transitions, improving user privacy. It uses zkps (zero-knowledge proofs) to shield data about users, transactions, and validity predicates, enhancing overall privacy.

Validity Predicates

Every account on Anoma has validity predicates as invariants. They ensure that transactions align with the user's preferences and intents, ensuring trust and safety.

Vamp-IR as an Intermediate Language

Vamp-IR serves as an intermediate language for writing arithmetic circuits. It enhances the flexibility of Web3 applications, allowing them to adapt and evolve.

Conclusion

Intent-Centric design represents a transformative paradigm in blockchain architecture, offering not only programmable settlement but also enhanced counterparty discovery and composable privacy. As Intents continue to shape the future of Web3, they hold the potential to make blockchain technology more accessible and user-friendly for everyone.

In a world where blockchain adoption is on the rise, Intents-Centric is a refreshing approach that simplifies the user experience and empowers individuals to navigate the complexities of the blockchain world with ease.

About Orochi Network

Orochi Network is a cutting-edge zkOS (An operating system based on zero-knowledge proof) designed to tackle the challenges of computation limitation, data correctness, and data availability in the Web3 industry. With the well-rounded solutions for Web3 Applications, Orochi Network omits the current performance-related barriers and makes ways for more comprehensive dApps hence, becoming the backbone of Web3's infrastructure landscape.

Blog

Understand Intents in Web3: A New Era of User-Centric Blockchain

I. What Are Intents?

II. Intents in Practice

III. Intent-Centric Design and User Experience

IV. Components of Anoma's Intent-Centric Architecture

About Orochi Network

RPC Node Hijacking: A New Threat to Cryptocurrency Wallets

Understand What is EIP-7503: Zero-Knowledge Wormholes?

Secure Multi-Party Computation with Information-Theoretic Techniques

Supply Chain Attack: Malicious Code Hides in Open Source

Orosign Wallet