Circle's new platform seeks to bridge gap between Web2 and Web3

Circle's 'Smart Contract Platform' offers pre-vetted code templates and a 'Gas Station' tool, streamlining the transition to Web3 for Web2 developers

By Shashank Bhardwaj

Published: Oct 23, 2023 07:22:33 PM IST

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Circle, the stablecoin issuer, unveiled the "Smart Contract Platform," aiming to simplify the development of Web3 applications for traditional Web2 programmers.

This new tool provides a collection of pre-vetted code templates, along with the option to utilise a console or REST APIs for deploying smart contracts. This approach intends to streamline the process for developers accustomed to Web2, who often find the complexities of Web3 daunting.

In addition to this, Circle has also introduced the "Gas Station'' tool, allowing developers to cover their users' gas fees, which can ease the onboarding process.

Typically, deploying smart contracts in the Web3 sphere involves using specialised tools like Truffle or Hardhat and coding in Solidity, a language unfamiliar to many conventional programmers. These tools also necessitate the creation and execution of blockchain deployment scripts, a step unfamiliar to most Web2 developers.

The selection of templates cater to a range of contract types, including non-fungible tokens (NFTs), loyalty programs, and interactions with DeFi projects like Uniswap or with Circle's stablecoin contracts. This approach allows developers to bypass the complex task of creating an entire Solidity contract from scratch, facilitating an easier transition for Web2 developers into the world of Web3.

Once a contract is constructed, it can be deployed to Polygon using the platform's "no-code" console. This eliminates the need for a separate migration script. While this feature is currently available for Polygon, Circle plans to extend its compatibility to more networks.

Furthermore, the platform offers representational state transfer application programming interfaces (REST APIs) for Ethereum and Avalanche, enabling developers to deploy and interact with their contracts. REST APIs are familiar to those accustomed to Web2 databases. Circle intends to broaden the availability of its "no-code" console and REST APIs to additional networks.

The "Gas Station" removes the requirement for users to pre-fund their wallets with the native coin of a network. Gas Station relies on Ethereum's account abstraction feature to facilitate gas-free transactions, and it has already been adopted by the Grab super-app, providing users with fee-free transactions for redeeming NFT vouchers.

Circle's innovative tools mark a significant step in streamlining the Web3 development process, making it more accessible and user-friendly for a broader range of developers. This move underlines the rapid growth and evolution of the Web3 ecosystem as it continues to bridge the gap between Web2 and Web3 technologies.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash