What is Particle Network?
Particle Network is a modular Layer-1 blockchain platform that seeks to address the fragmentation of users and liquidity across the Web3 ecosystem. Launched in 2022, it initially focused on Wallet-as-a-Service (WaaS) before expanding into chain abstraction, which streamlines blockchain interactions by providing Universal Accounts. These accounts enable users to operate across multiple blockchains—EVM-compatible, Bitcoin, and more—without needing separate wallets or manual bridges.
Universal Accounts and Chain Abstraction
At the core of Particle Network’s offering are Universal Accounts, which pool users’ assets across multiple chains and allow interaction from a single interface. This enables seamless participation in decentralized applications (dApps) on various networks while hiding the complexities of cross-chain operations. Key aspects of chain abstraction include:
- Wallet Abstraction: Users interact with a single wallet address across chains, eliminating the need to manage individual chain-specific wallets.
- Universal Liquidity: This feature allows users to make transactions even on chains where they do not hold assets. Automatic cross-chain swaps facilitate efficient transactions by aggregating liquidity across ecosystems.
- Universal Gas: Users can pay gas fees with any token from any chain. For example, gas fees can be covered with stablecoins such as USDT or USDC, thanks to the platform’s Paymaster system and its native token, $PARTI.
Infrastructure and Architecture
Particle Network is built on the Cosmos SDK, providing scalability and sovereignty while maintaining interoperability. Key features include:
- Dual Staking Model: It combines Tendermint’s Proof-of-Stake mechanism with Bitcoin’s economic security through the Babylon project.
- Modular Design: This architecture allows seamless onboarding of the ecosystem and smooth coordination across different chains. Modular Bundler nodes manage UserOperations, and the Decentralized Messaging Network ensures transactions are executed atomically.
Ecosystem and Adoption
Particle Network has rapidly grown, with over 17 million wallet activations and 900 dApp integrations across 56 chains. Its BTC Connect solution extends its Universal Account functionality to Bitcoin, enabling Bitcoin wallets to interact with EVM-compatible Layer-2 solutions. The project has also achieved significant traction in DeFi, with over $2 billion in total value locked and 4 million daily active users.
Future Roadmap
In 2024, Particle Network aims to launch its Mainnet and further develop its modular ecosystem. Key milestones include a Testnet rollout in Q1 2024 and expanded dual staking features in Q2. These advancements will further improve blockchain accessibility, paving the way for a unified Web3 experience.
