Founding and Vision
Launched in 2022, Particle Network aims to streamline interactions within the blockchain space by offering a unified account system that operates across various chains. The project’s primary objective is to solve Web3’s user and liquidity fragmentation issues by providing a single account and balance usable on any blockchain. This approach is intended to simplify user experiences and enhance the liquidity and interoperability of decentralized applications (dApps).
Core Technologies and Features
Modular L1 Blockchain
Particle Network’s Layer-1 blockchain is built on the Cosmos SDK, which allows for modular design and chain abstraction. This modularity ensures the network retains its sovereignty while outsourcing key functions like validation and data availability to specialized ecosystem actors. The L1 features a high-performance, EVM-compatible execution environment and employs a dual staking system combining Proof-of-Stake and Bitcoin’s economic security via Babylon.
Universal Accounts
The Universal Accounts feature allows users to maintain a single address and balance across all blockchains, including heterogeneous networks like Bitcoin and Solana. This functionality simplifies cross-chain interactions, removing the need for multiple wallets and gas tokens specific to each blockchain.
Universal Liquidity and Gas
Universal Liquidity unifies the liquidity across all chains, enabling atomic transactions that span multiple blockchains. This means users can engage with new chains without holding tokens on them. Universal Gas allows users to pay transaction fees with any token, which simplifies the user experience by removing the need to manage different native tokens for gas fees across various chains.
Products and Services
Wallet-as-a-Service (WaaS)
Particle Network’s WaaS simplifies the integration of blockchain wallets into applications, supporting social logins and eliminating the need for complex seed phrases. This service aims to enhance user experience and security by utilizing Multi-Party Computation (MPC) for threshold signatures, ensuring accounts are secure without relying on traditional passwords.
BTC Connect
BTC Connect is the first account abstraction protocol for the Bitcoin ecosystem, enabling Bitcoin wallets to operate as smart accounts within EVM-compatible chains. This service enhances the utility of Bitcoin by integrating it more deeply into the broader DeFi ecosystem.
Community and Ecosystem
Particle Network has integrated its solutions with over 900 dApps, reaching more than 17 million users. The network’s focus on modular chain abstraction has attracted significant investment, raising $25 million to further develop its technology and expand its ecosystem.
Conclusion
Particle Network is at the forefront of blockchain innovation, offering solutions that address key issues of user and liquidity fragmentation in the Web3 space. With its Universal Accounts, Liquidity, and Gas systems, the network simplifies cross-chain interactions, paving the way for a more interconnected and user-friendly blockchain ecosystem.
