Imagine you want to perform a task, like sending money to a friend, but you don’t want to worry about all the technical details. Instead, you simply state your intention, and the system figures out the rest. That’s the basic idea behind intents and purposes in the blockchain world.
Intents are high-level commands that tell the system what you want to achieve without needing to know how it’s done.
Intents simplify complex interactions across different blockchain networks. They make it easier for users and applications to interact with various blockchains without dealing with the technical intricacies of each one.
User Declaration 💬
Users state their desired outcome.
Solvers 🤖
These are entities or protocols that interpret and fulfil the intent.
Execution ⚙️
The solvers carry out the necessary steps to fulfil the intent.
These are third-party actors who compete to fulfil the intent signed by the user.These can be: Cross-Chain Bridges, Liquidity providers, Smart Contract Executors(like AMMs) etc.
Solvers get compensated for their services through fees or incentives.
A small transaction fee is charged for executing the intent.
Additional charges may apply for using specific services or protocols.
In some cases, there may be rewards in the form of native tokens or governance tokens.
Simplicity: Users don’t need to understand the technical details of different blockchains, making blockchain accessible to everyone.
Efficiency: Solvers find the most efficient way to complete your task, saving time and costs.
Security: Reduces the risk of errors in complex transactions, ensuring your transactions are secure and reliable.
Last updated
Was this helpful?
Was this helpful?