What is the particle network? The development potential of the particle network (Great Publish)

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10 Jan 2024

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Particle Network is a platform that provides infrastructure for projects in the Web3 and blockchain sectors.

What is a particle network?

Particle Network operates as an intent-centric, access-layer module of Web3. The project aims to enable developers to explore and harness internal capabilities to build decentralized protocols and applications. The platform offers tools like verification, wallets, NFTs, nodes, and account abstraction to achieve this goal. Particle Network simplifies interactions on Web3, creating an environment and interface for smoother experiences akin to those in the Web2 space.

Launched in March 2022, Particle Network is one of the few projects utilizing account abstraction technology, playing a significant role in enhancing the adoption of cryptocurrencies in the future. The platform successfully raised $8.5 million through pre-seed and seed funding rounds. Collaborating with Lumoz, the project initiated an airdrop program in December 2023. On January 4th, Particle Network, along with 49 other projects, introduced The People's Alliance and initiated the minting program for 21,000,000,000 ALLY tokens.

Particle Network's Products

Authentication Service

The Authentication Service provides users with a self-managed authentication infrastructure specifically designed for Web3 applications and wallets. The platform integrates features with numerous partners, including prominent names such as TRON, Gameta, Biconomy, 1inch, and Ultiverse, among others.

ParticleAuth can integrate with various types of wallets, platforms, chains, and social media login information. Additionally, users can plug authentication devices into their devices for quicker and easier operations. This feature enhances the experience in Web3 decentralized applications, requiring only one login for all on-chain wallets. The MPC-TSS mechanism helps investors maintain security and privacy without needing to memorize private keys or secure locks.

Wallet Service

The wallet service supports transaction participation, facilitating quick and easy token conversions. The system ensures security by integrating:

Security Mechanism: Particle Wallet undergoes stringent security checks provided by leading security firms, monitored by users and partners.

Signatures: Only the wallet owner can confirm and sign within the wallet, preventing potential attacks by hackers or other asset loss risks.

Multi-factor Authentication: The wallet enhances security through authentication via email and social media channels.

Node Service

The node service is a robust node infrastructure for blockchain and cryptocurrency applications. Developers can enhance the performance of their individual projects by utilizing the node-sharing feature through Particle Network APIs. Particle Network offers a globally distributed node service to ensure scalability, stability, and security for the ecosystem. Operating 24/7, this feature supports participants anytime, anywhere. Startups can confidently delegate node management to the platform, allowing them to focus on business development.

NFT Service

The NFT service is dedicated to businesses, catering to all NFT-related needs. Through this product, investors can access NFTs based on collections, ownership, creators, and more. With an API, Particle Network can display all primary chains in a simple and unique format. The super data storage system facilitates the NFT request and trading process with original URLs, ensuring buyers receive the full value of their NFTs and mitigating potential risks during transactions.

Account Abstraction

The project collaborates with Biconomy to build a range of customizable features using account abstraction technology. This feature assists users in batch transactions to minimize gas fees, enhance processing efficiency, and improve the blockchain experience.

Team

Pengyu Wang is the co-founder and CEO of Particle Network. Wang holds a bachelor's degree from Thanh Hoa University, one of China's top universities. He previously served as an investment principal at Softbank's SAIF Partners, focusing on early-stage startup investments in the Asia region, and was the CEO of MiniJoy.

Tao Pan is the co-founder and CTO of the platform. Pan graduated from Thanh Hoa University and entered the cryptocurrency market early through various airdrop campaigns for major projects. He has built a social gaming platform and successfully raised $15,000,000 from Alibaba. Pan contributed to the success of MiniJoy Lite, the most downloaded mobile gaming platform in the South Asia region.

Investors

On May 5th, 2022, Particle Network successfully raised $1,500,000 in its pre-seed round with participation from Insignia Ventures Partners, CyberConnect, BitCoke Ventures, 7 O’Clock Capital, FSC Ventures, Monad Labs, etc. On March 29th, 2023, the project held its seed round and successfully raised $7,000,000 from various investment funds such as ABCDE, Animoca, Longhash Ventures, GSR Ventures, HashKey, etc.

Conclusion

Particle Network offers various products and services, such as verification, wallets, NFTs, nodes, and account abstraction, to aid developers in building easily accessible and convenient decentralized protocols and applications. Its infrastructure solutions and globally distributed node services ensure stability, scalability, and speed within the ecosystem. This also attracts a diverse customer base, including enterprises and start-up companies. Through the People's Alliance, Particle Network connects with numerous other Web3 projects, fostering the development process of the entire cryptocurrency industry. However, investors should conduct thorough research before deciding to engage with the platform.