Particle Network is an innovative solution designed to tackle user and liquidity fragmentation across numerous blockchains within the Web3 ecosystem. It began as a provider of wallet abstraction services and has since evolved into a modular layer-1 network that interconnects all chains at the account level.
This article explores the core features of Particle Network, its underlying technology, key advantages, and the team behind this promising project.
What Is Particle Network?
Particle Network is a modular layer-1 blockchain platform with a mission to unify Web3 by eliminating user and liquidity fragmentation. Since its launch in 2022, the network has achieved significant adoption, with over 17 million wallet activations and more than 900 integrated dApps.
Initially, Particle Network offered wallet abstraction services, allowing users to create smart contract wallets linked to their Web2 social accounts. These wallets could be used seamlessly within integrated dApp interfaces. Today, it has expanded into a full-fledged modular blockchain that coordinates universal accounts and liquidity across ecosystems.
Core Features of Particle Network
Universal Account
The Universal Account is an implementation of a smart account that consolidates user balances across diverse ecosystems, including heterogeneous blockchains like Bitcoin and Solana. It provides a single address and unified balance usable across all connected chains.
Universal Liquidity
Universal Liquidity aggregates liquidity from all chains through atomic multi-chain execution. This allows users to interact with new chains without needing to hold the native tokens of those chains, significantly simplifying the cross-chain experience.
Universal Gas
Universal Gas enables users to pay transaction fees with any token, such as PARTI, USDT, or USDC, sourced from any blockchain. All transactions are ultimately settled on Particle Network using its native utility token, PARTI.
Wallet Abstraction Solutions
Particle Network offers two primary products in wallet abstraction: Modular Smart Wallet-as-a-Service and BTC Connect. These are used by over four million daily users across 56 chains.
- Modular Smart Wallet-as-a-Service: This allows developers to utilize MPC-TSS and social logins to create smart contract wallets integrated into dApps. It provides a seamless onboarding experience and non-custodial key management.
- BTC Connect: This is the first ERC-4337 account abstraction protocol compatible with the Bitcoin ecosystem. BTC Connect natively brings ERC-4337 to Bitcoin L2s, enabling advanced smart account functionalities on Bitcoin.
How Particle Network Works
Particle Network operates using a modular layer-1 architecture that coordinates universal accounts and liquidity. This allows a user to maintain one address and one balance across all chains while paying gas fees with any token.
The network is built on the Cosmos SDK, which provides intrinsic modularity while allowing the network to maintain sovereignty. Key functions, such as validation and data availability, are outsourced to specialized actors within the ecosystem.
Particle Network's layer-1 is equipped with a high-performance EVM execution environment and leverages Babylon for additional security through restaking. This design ensures smooth integration with existing smart accounts and creates additional utility for current users.
Key Advantages
- Modular Layer-1: By leveraging the Cosmos SDK, Particle Network builds a modular blockchain that can outsource key functions to ecosystem actors, ensuring secure and efficient decentralized operations.
- Enhanced Security: The network combines Tendermint Proof-of-Stake with Bitcoin's economic security, backed by Babylon, offering a dual-layered and robust security system.
- Data Availability Aggregation (AggDA): This system reduces vendor lock-in and liveness risks by relying on multiple providers like Celestia, Avail, and NEAR DA. It uses aggregated DA node operators to publish and verify data across providers for redundancy and conditional optimization.
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How to Participate in the Particle Testnet
To participate in the Particle Pioneer Testnet and potentially qualify for an airdrop, users need Sepolia ETH. Here is a detailed guide on how to acquire these tokens and engage with the platform.
Getting Started with Sepolia ETH
You will need a small amount of Sepolia ETH to cover gas fees. You can obtain these test tokens from faucets like the official Sepolia Faucet or the Infura Faucet.
Joining the Pioneer Testnet
After acquiring Sepolia ETH, the next step is to register for the Particle Pioneer Program. Visit the official Particle Pioneer Program website and click ‘Join Now’.
Connect your social account or an existing Web3 wallet. To increase your network engagement, you can also link your Twitter and Discord accounts.
Earning PARTI Points
Start accumulating PARTI Points by completing various on-chain tasks, which will require a small amount of gas. Connect an external wallet and deposit your chosen amount of test ETH.
If you manage multiple accounts, ensure you transfer ETH between them as needed, always retaining some ETH for transaction fees.
Completing Tasks
Participating in platform tasks is the primary way to earn points. Daily check-ins will provide additional points for regular participation. Use your initial wallet to transfer Sepolia ETH to your Particle wallet address, which supports up to 100 transactions per day.
Using Boosters and Rewards
Accumulate points to reach specific thresholds and mint NFTs. These NFTs will act as boosters, enhancing your overall airdrop rewards and benefits.
The Team and Investors
Particle Network was founded by Pengyu Wang, who serves as its CEO. With a strong background in technology, Wang has played a pivotal role in the development and growth of Particle Network as an innovative blockchain platform.
The project has successfully secured funding from several prominent investors:
- Pre-Seed Round (May 5, 2022): Raised $1.8 million at a $30 million valuation, backed by LongHash Ventures and 7 O’Clock Capital.
- Seed Round (March 24, 2023): Raised $7 million at a $40 million valuation, with key investors including HashKey Capital, Animoca Brands, and Alibaba Group.
- Series A Round (June 20, 2024): Raised $15 million with support from The Spartan Group, HashKey Capital, Morningstar Ventures, and Alibaba Group.
Conclusion
Particle Network presents a revolutionary solution to the persistent problems of user and liquidity fragmentation in Web3. Through its universal account, liquidity, and gas features, it drastically simplifies cross-chain interactions for users. Its modular architecture ensures high security and efficiency, positioning Particle Network as one of the most promising projects in the blockchain space.
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Frequently Asked Questions
What is the primary goal of Particle Network?
Particle Network aims to solve fragmentation in Web3 by creating a modular layer-1 blockchain that connects all other chains. It provides users with a unified account, consolidated liquidity, and the ability to pay gas fees with any token, creating a seamless multi-chain experience.
How does Universal Gas work?
Universal Gas allows users to pay for transaction fees on any connected chain using any token they hold, such as USDT or USDC. The network handles the conversion and ultimately settles the transaction on its native chain using the PARTI token.
Is Particle Network secure?
Yes, Particle Network employs a dual-security model. It combines a Tendermint-based Proof-of-Stake consensus mechanism with Bitcoin's economic security through a partnership with Babylon, making it a highly robust and secure network.
What is the PARTI token used for?
The PARTI token is the native utility token of the Particle Network. It is used for gas fee settlement, governance, and securing the network through staking. It acts as the final medium of exchange within its universal gas system.
How can I participate in the Particle Network testnet?
To participate, you need to acquire Sepolia ETH from a testnet faucet. Then, visit the Particle Pioneer Program website, connect your wallet or social account, and start completing tasks to earn PARTI Points and qualify for potential rewards.
What makes Particle Network's architecture "modular"?
Its architecture is modular because it uses the Cosmos SDK, allowing it to outsource key functions like data availability and validation to specialized external providers. This creates a more flexible and efficient blockchain design compared to monolithic structures.