Abstract Shutdown Tests Whether Consumer Chains Can Stand Alone

Igloo Inc. plans to shut down Abstract, its consumer-focused Ethereum Layer 2, on Dec. 15 after concluding that the network could not become a sustainable standalone business. Users have been told to move their assets before the deadline. Funds left on Abstract afterward will be inaccessible. The closure is notable because Abstract appeared to have many of the ingredients associated with mainstream crypto adoption. The network processed more than 325 million transactions and supported more than 4 million Abstract Global Wallets.

Source: TokenPost