Particle Network unveils modular layer 1 for chain abstraction and universal accounts

adminMarch 20, 2024

particle networka leading provider of account and wallet abstraction solutions, announced an innovative modular layer 1 supporting chain abstraction and universal accounts.

With this release, Particle Network aims to address the ongoing fragmentation of Web3 across the ecosystem and simplify user interactions across multiple blockchains into a unified, seamless experience. Likewise, Particle is working to introduce universal accounts, allowing users to manage their identities and assets across multiple chains with a single account.

This release marks an important milestone in Particle Network’s journey, building on its rich history of innovation and mission to provide seamless, user-friendly blockchain solutions. Founded in 2022 with a vision to empower developers and Web3 end users, Particle Network has built a successful track record in solving the complexities of asset management and user onboarding/retention in Web3. Particle boasts over 900 integrations in the wallet abstraction stack, over 17 million wallets created across 56 chains, and over 10 million account abstraction UserOperations processed through its products. Particle has also already introduced its first chain abstraction solution, BTC Connect. BTC Connect is the first account abstraction protocol for the Bitcoin ecosystem to be widely adopted within the Bitcoin L2 ecosystem.

Particle Network’s modular Layer-1 solution uses these existing products to enable universal accounts, universal liquidity, and universal gas tokens. The project announced that thanks to its modular design, the entire ecosystem will be seamlessly mounted to coordinate and anchor operations at L1. This will allow any user to unlock a universal smart account, giving dApps immediate access to the Bitcoin ecosystem.

Particle Network’s modular L1 support chain abstraction

Particle Network’s modular L1 blockchain strengthens chain abstraction by abstracting gas and unifying liquidity while reconciling accounts across chains. This enables smooth reconciliation and asset settlement of existing L1 and L2.

Built using the cutting-edge Cosmos SDK, L1 introduces several innovative features, such as a dual-staking model leveraging EigenLayer’s re-staking solution and Particle Network’s own tokens. Particle Network’s L1 universal account provides users with one address for all chains, including the BTC and EVM ecosystems, creating a single point of interaction. It also leverages Universal Liquidity for seamless cross-chain transactions supported by a single Universal Gas Token, simplifying gas payments and reducing friction for users. This represents a leap toward a friendlier user experience and limitless interoperability and sets a new benchmark for blockchain connectivity. Additionally, Particle Network’s Modular L1 combines the sovereignty and scalability of a modular architecture with the unified liquidity and user experience of a single-chain system.

Particle’s L1 also introduces a new system that integrates data availability providers such as Avail, EigenDA, Celestia, and NEAR DA. This allows you to maintain high decentralization, scalability, and performance. All of these features not only simplify the end-user experience, but also allow developers to offer dApps to a wider audience without the constraints of multi-chain fragmentation.

A strong foundation for the future

With over 17 million users, 4 million daily active users, a strong foundation of $2 billion in total value, and an active community, Particle Network is well-positioned to make this release a huge success. The company’s strong track record, demonstrated by extensive partnerships and active user engagement, underlines its commitment to leading the evolution towards a more integrated and user-friendly blockchain ecosystem.

As we begin this exciting new chapter, Particle Network outlines a soft roadmap that includes the launch of testnet and V1 mainnet in Q1 2024, followed by dual staking and abstracted DA testnet in Q2 2024. Introducing. This series of innovations paves the way for a future where blockchain technology is more accessible, efficient, and integrated than ever before.

particle network information

Particle Network is at the forefront of Web3 innovation with a modular L1 that supports chain abstraction. After successfully integrating Wallet Abstraction into 900 dApps, serving 17 million users, Particle Network is integrating its Web3 experience with Cosmos SDK Layer-1. This powers universal accounts, universal liquidity, and universal gas tokens across various ecosystems such as BTC, SVM, IBC, and EVM.