Particle Network Unveils Modular Layer-1 for Chain Abstraction & Universal Accounts

Singapore, Singapore, March 20, 2024 (GLOBE NEWSWIRE) — Particle Network, a leading provider of Account and Wallet Abstraction solutions, has announced its revolutionary Modular Layer-1 powering Chain Abstraction and Universal Accounts.

Through this release, Particle Network aims to address Web3’s ongoing fragmentation across ecosystems, simplifying users’ interactions across multiple blockchains into a unified, seamless experience. Similarly, by introducing Universal Accounts, Particle strives to allow users to manage their identity and assets across various chains with a single account.

This release marks a significant milestone in Particle Network’s journey, building upon its rich history of innovation and its mission to deliver seamless, user-friendly blockchain solutions. Founded in 2022 with the vision to empower developers and Web3 end-users, Particle Network has built a successful track record in addressing the complexities of asset management and user onboarding/retention in Web3. Particle boasts over 900 integrations of its Wallet Abstraction stack, more than 17 million wallets created across 56 chains, and 10 million+ account abstraction UserOperations processed via its products. Particle has also already debuted its first chain abstraction solution: BTC Connect, the first account abstraction protocol for the Bitcoin ecosystem, which has received wide adoption within the Bitcoin L2 ecosystem.

Particle Network’s modular Layer-1 solution relies on these existing products to enable its Universal Accounts, Universal Liquidity, and a Universal Gas Token. The project has announced that thanks to its modular design, its whole ecosystem will be seamlessly onboarded to coordinate and settle its operations on its L1. This will unlock Universal Smart Accounts for all users, with dApps instantly being able to tap into the Bitcoin ecosystem.

Particle Network’s Modular L1 powering Chain Abstraction

Particle Network’s modular L1 blockchain powers chain abstraction by coordinating accounts across chains while abstracting gas and unifying liquidity. This empowers existing L1s and L2s with seamless coordination and asset settlement.

Built using the cutting-edge Cosmos SDK, this L1 introduces several innovative features, such as a dual staking model leveraging EigenLayer’s restaking solutions and Particle Network’s own token. Particle Network’s L1 Universal Accounts empower users with one address for all chains, including the BTC and EVM ecosystem creating a single interaction point. They also leverage Universal Liquidity for seamless cross-chain transactions, supported by a single Universal Gas Token to simplify gas payments and reduce friction for users. This represents a leap towards a friendlier User Experience and infinite interoperability, setting a new benchmark for blockchain connectivity. Furthermore, Particle Network’s Modular L1 combines modular architecture’s sovereignty and scalability with the unified liquidity and user experience of single-chain systems.

Particle’s L1 also introduces a novel system aggregating Data Availability providers such as Avail, EigenDA, Celestia, and NEAR DA. This allows it to retain high decentralization, scalability, and performance. All these features not only simplify the experience of end users, but also allow developers to take their dApps to a broader audience, unconstrained by multi-chain fragmentation.

A Strong Foundation for the Future

With a robust foundation of more than 17 million users, 4 million daily active users, 2 billion in total value locked, and a vibrant community, Particle Network is well-positioned to make this release a resounding success. The company’s strong track record, evidenced by its extensive partnerships and active user engagement, underscores its commitment to leading the evolution toward a more integrated and user-friendly blockchain ecosystem.

As Particle Network embarks on this exciting new chapter, it outlines a soft roadmap that includes the launch of its Testnet and V1 Mainnet in Q1 2024, followed by the introduction of Dual Staking and Abstracted DA Testnet in Q2 2024. This series of innovations paves the way for a future where blockchain technology is more accessible, efficient, and unified than ever before.

About Particle Network

Particle Network is at the forefront of Web3 innovation with its Modular L1 powering Chain Abstraction. After successfully integrating Wallet Abstraction into 900 dApps, serving 17 million users, Particle Network is unifying the Web3 experience through its Cosmos SDK Layer-1. This empowers Universal Accounts, Universal Liquidity, and a Universal Gas Token across diverse ecosystems, such as BTC, SVM, IBC, and EVM.

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