Particle Network: Unifying Web3 with Chain Abstraction
In recent months, there has been a significant surge in interest surrounding modularity. The emergence of L2 chains, rollups, and appchains has rapidly advanced blockchain scalability, with innovative solutions flooding the market. However, the complexity of modular systems presents hurdles in product development, creating challenges for developers and downstream consequences for end-users. This complexity leads to fragmented ecosystems and user bases within Web3, ultimately hindering its growth.
The solution? Chain abstraction. This refers to simplifying users’ interactions with blockchains, allowing them to use any product and asset without worrying about managing multiple wallets, bridging, underlying infrastructure, etc.
When discussing Chain Abstraction, it’s impossible to overlook the pivotal role played by Particle Network. Throughout this article, we’ll scrutinize why Particle Network emerges as a prominent figure in this domain, analyzing its architecture, products, and ongoing advancements.
Assessing Chain Abstraction
Chain abstraction unifies multi-chain asset and account management, addressing the Web3 ecosystem’s fragmentation. It’s seen as the key to transitioning Web3 from its early stages to mainstream adoption. As more developers recognize its potential, Web3’s product offerings and network effects can significantly improve, fostering healthy competition based on product quality rather than user bases.
Projects like NEAR, Polygon’s AggLayer, Optimism’s Superchain and Particle Network are leading the way in this field.
Particle Network, currently in Testnet development, serves as a universal settlement layer that coordinates interactions across chains. It features a Universal Account protocol that synchronizes Smart Accounts across the ecosystem, unifying the UX across all chains and allowing users to have the same account address and balance on all of them. Universal Accounts leverage Particle’s Universal Liquidity protocol, allowing users to access any chain with a single account via the automatic execution of cross-chain transactions and swaps. This shared liquidity, in turn, enables them to use any token to pay for gas, ultimately settling on Particle’s Cosmos SDK L1.
To accelerate chain abstraction, Particle Network collaborates closely with other industry leaders like NEAR and the CAKE R&D group. By establishing standards and building on existing solutions, Particle aims to be part of a larger movement towards a more integrated and efficient Web3 ecosystem.
From Wallet Abstraction to Layer 1
In 2022, Particle Network launched as a provider of Wallet Abstraction services. This allowed users to create smart contract wallets tied to their Web2 social accounts, seamlessly integrated into dApp interfaces. Fast forward to 2024, with over 17 million wallet activations and 900+ dApp integrations, Particle Network embarked on a new chapter with the introduction of its own Layer 1 solution.
This Layer 1 features a high-throughput EVM execution environment leveraging IBC protocol for cost-effective, rapid cross-chain transaction processing. This modular design preserves Particle Network’s autonomy while delegating critical functions like validation and data availability to specialized ecosystem actors.
Particle Network relies on 3 modules, each offering distinct user benefits:
• Universal Accounts: Offers a unified interface, user address, and balance across all chains, including both EVM and non-EVM networks. It simplifies Smart Contract Wallet management and enables account control on diverse blockchains like Bitcoin and Solana.
• Universal Liquidity: Unifies all networks through atomic transactions and automated swaps, allowing users to interact across chains without bridging assets to them
• Universal Gas: Allows users to pay gas for cross-chain transactions with any token, as opposed to the multichain ecosystem’s need for multiple units (SOL, ETH, MATIC, etc.)
Design & Security
Particle Network features a dual staking system, combining Proof-of-Stake through Tendermint with Bitcoin’s economic security and resilience, powered by Babylon.
In essence, their current setup involves one set secured by the $PARTI token (network standard validators) and another set secured by BTC, both needing to concur on validity. By securing this second set with BTC, which is widely regarded as the strongest crypto asset, any risks associated with the novelty and volatility of their token are effectively mitigated.
Additionally, the network will incorporate aggregated data availability (AggDA), leveraging a blend of external providers to harness their unique advantages for optimal decentralization, security, and performance. These providers include Celestia DA, Avail DA and NearDA.
Product Offerings
Particle’s vision is to accelerate the world’s transition into the cryptoverse. Using their powerful SDKs, developers can focus on creating great app experiences rather than focusing on the the heavy lifting of building cross-chain interactions. Previous to announcing its Layer 1, Particle’s solutions focused on Wallet Abstraction, with a stack that included two primary products, used by over 4 million daily users across 56 chains.
- Smart Wallet-as-a-Service (WaaS): This service allows users to create and manage wallets using their Web2 credentials. It uses advanced cryptographic techniques to ensure non-custodial and secure wallet management. For developers, it offers a modular account abstraction stack that can be integrated into their dApps, enabling features like gasless transactions and advanced programmability. Additionally, it supports the creation of sophisticated applications, such as DeFi platforms and microtransaction-based social media, which are challenging to implement with traditional wallet frameworks.
- BTC Connect: The first AA protocol for the Bitcoin ecosystem, BTC Connect simplifies user interactions by allowing management of Bitcoin and EVM-based smart accounts with a single wallet. This enables developers to offer features like gasless transactions and account programmability while allowing their users to only interact with their native Bitcoin wallets.. It abstracts the complexities of accounts and transactions, driving value and attracting new users to BTC applications. BTC Connect supports mainstream BTC wallets (Unisat, Xverse, OKX Wallet) and allows users to interact with BTC EVM Layer 2 chains, including Merlin, BOB, Botanix, BitLayer, B² Network, and Satoshi VM, among others.
Development Journey
In early 2022, Particle secured $1.8M in pre-seed funding from LongHash Ventures, a prominent accelerator based in Singapore. The following year, in 2023, they announced a $7M seed round led by ABCDE, with support from investors such as Animoca and GSR Ventures.
In 2024, Particle made a significant pivot, transitioning from a service and tooling provider to developing their own layer 1 chain. In May of that year, they unveiled their Testnet. Alongside the Testnet launch, Particle rolled out Particle Pioneer platform, where users can explore chain abstraction while earning $PARTI points, incentivizing participation. These points offer rewards within the Particle Network and other ecosystems.
The Testnet showcases Universal Accounts and Universal Gas, compatible with both EVM and BTC wallets, marking the debut of chain abstraction features on the Particle Network L1. Through this platform, users can deposit assets from various chains, converting them into Universal Gas for transactions across supported networks. To join the early testing phase, we strongly recommend checking out their detailed article HERE.
As of now, Particle Pioneer has facilitated over 47M transactions and boasts a user base of over 800K universal accounts, illustrating remarkable growth and widespread adoption within the ecosystem. This surge in activity underscores the platform’s increasing relevance and popularity among users, signaling a promising trajectory for Particle’s continued development and expansion efforts.
Looking ahead, Particle is set to achieve significant milestones in its development timeline. Currently in the V1 Testnet phase, Particle is diligently working towards the Q3 launch of Mainnet V1. Following this major release, Particle will introduce its aggregated DA and Dual Staking modules in a Testnet version, paving the way for further enhancements. Subsequently, the progression to Mainnet V2 before Q4 2025 signifies the continuous evolution of Particle’s blockchain functionality and user experience, marking key milestones in its ongoing journey of innovation and growth.
Links & Resources
Website: https://particle.network/
X/Twitter: https://x.com/ParticleNtwrk
Blog: https://blog.particle.network/
Docs: https://docs.particle.network/
Developer Docs: https://developers.particle.network/
About BlockHunters
BlockHunters, a leading infrastructure service provider in the crypto ecosystem, is dedicated to advancing technology and bolstering security, connectivity, governance, and community support. Our solutions are both competitive and practical, designed to meet the diverse needs of the industry.
As a Genesis validator on Particle’s testnet, we proudly support their infrastructure. Particle’s focus on Account Abstraction is crucial in simplifying user interactions with blockchains, a move we firmly believe will drive widespread adoption and innovation in the industry. We’re fully committed to backing Particle’s journey into mainnet and beyond, aligning with our mission to propel the industry forward.
Where to find us
Website: https://blockhunters.org
Linktree: https://linktr.ee/blockhunters
Explorer: https://scan.bh.rocks/
Twitter: https://twitter.com/BlockhuntersOrg
📧Email office[at]blockhunters[dot]org
