jakiro
Author: E2M Research Source: Mirror
As more and more public chains and Layer2 appear, the current Web3 experience is very fragmented.Different chains will motivate users to use their networks and need to use different wallets to interact with them.At the same time, the agreement determines which chain is decided to deploy in joint marketing activities, TVL and market emotions, not technology or innovation.This has caused an isolated and incompatible ecosystem, which hinders the development of Web3.
PARTICLE Network’s solution to this problem is chain abstraction: simplifying the interaction between users and blockchain, allowing them to use any products and assets without worrying about managing multiple wallets, bridges, underlying blockchain, etc.
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Particle Network was launched in 2022 and was originally used as a wallet abstract service provider.After more than 17 million wallets activated and more than 900 DApp integration, PARTICLE is further developing to launch a modular L1 chain abstraction network and build a universal settlement layer spanning EVM and BTC ecology.
Network architecture
PARTICLE Network is built through the COSMOS SDK, which can better achieve modular design, retaining key functions such as verification and data availability to specialized ecosystem participants.It also allows us to use COSMOS’s blockchain communication (IBC) protocol to achieve interoperability, thereby achieving cheap and fast cross -chain transactions.
PARTICLE Network has a dual pledge system that combines equity proof of the TEnderMint with Eigenlayer’s RestAKING to improve network security.The dual pledge mechanism has two different operator pools: one is the entrusted pool of the original native currency of the Particle Network, and the other uses ETH ETH entrusted ponds.The two pool nodes must be achieved alone to ensure equal participation in consensus.This dual pledge model guides the network through the security provided by the re -pledged ETH, which significantly reduces the security dependence of the original token of the PARTICLENEWORK native currency in the early stage of launch.
In addition, it also provides a unique data availability aggregation (AGGDA) model, depending on the Near Da, Celestia, EIGENDA, and Avail providers.
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According to the latest news, the V1 test network of Particle Network is expected to be released in the second quarter of 2024, and the V2 main network will be released in the fourth quarter of 2024.
The network depends on three core modules:
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General account:
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These are customized ERC-4337 smart account implementation.Through these accounts, Particle Network simplifies the management and use of smart contract wallets on all EVM chains, and allows them to control the accounts on the heterogeneous blockchain such as Bitcoin and Solana.
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Universal liquidity:
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Execute through multi -chain atomic transactions, uniformly uniformly liquidity.This allows users to interact with the new chain without holding tokens.
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Universal Gas Token:
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Allows users to pay GAS for cross -chain transactions with universal GAS Token instead of the multi -chain ecosystem. You need to use different chain Gas token (solid, eth, matic, etc.)
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Universal account
The general account of Particle Network is supported by Layer-1, which is implemented by ERC-4337 smart account. It can converge to the tokens on all chains by automatic routing and executing atomic cross-chain transactions.
These accounts (in turn using PARTICLE GAS tokens and universal liquidity) can be understood as smart accounts assigned to existing EOA. The EOA comes from the social login of the modular wallet that serves through the PARTICLE Network, or the standard, or the standard, or standards, or standards.Web3 and Bitcoin (through BTC Connect wallet. These accounts realize the automatic use of particle networks to promote atomic cross -chain transactions and enable them to maintain a unified state.
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Universal liquidity
The general liquidity refers to the aggregation of all the balances on all chains, which is directly driven by the atom transaction and exchange coordinated by the Particle Network.
For example, if a given user has a MATIC worth 1 ETH on Polygon, but executing a 1 ETH transaction on Optimism, the particle network will be routed and execute cross -chain transactions by the initial signature provided by the expected interaction.This allows the value to quickly move from Polygon to Optimism, thereby using related actions, thereby creating a single balance that spans all blockchain.
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Use PARTICLE Network to perform user processes for cross -chain transactions
General GAS tokens
In view of the unity of cross -chain balance, the Particle Network also solves the fragmentation problem of the expected GAS tokens and provides a cohesive experience.
Although most networks share a series of standard tokens (such as USDT), each blockchain requires specific GAS tokens, so users are required to hold a large number of different tokens on the network.In order to solve this problem and further realize the real general experience, Particle Network launched a general GAS tokens: a tokens that can be used directly in the general account to pay the GAS fee on each chain.Therefore, cross -chain transactions only need this specific token to execute, and do not need to provide separate tokens for each chain they use.This dynamic further promotes the fundamental goal of chain abstraction. Even when the user fails to hold the general GAS tokens through automatic exchange, it can be accessed, allowing them to use any tokens to pay GAS fees.
BTC Connect
BTC Connect realizes account abstraction on Bitcoin through unified users’ bitcoin accounts and EVM -based smart accounts.This is achieved by using the Bitcoin Wallet as the signature of the smart accounts on the Bitcoin L2 or EVM network. Users can use the existing Bitcoin wallet to interact directly without additional interaction or interface.
The design introduces smart accounts, Paymaster, Bundler, and unique Bitcoin -specific wallet connection mode.The latter completes the local Bitcoin wallet connection by generating an EVM intelligent account that needs to be “allocated” to the Bitcoin wallet (through Unisat, Bitget or OKX).In this way, all interactions on the smart account and the original Bitcoin wallet can be controlled by the interface of the Bitcoin wallet.
The interaction of user intelligent accounts can be directly provided by the account owner, or the DAPP itself can be paid prepaid.Therefore, users can pay GAS to interact with the protocols through no GAS transactions or use assets on their smart accounts (usually BTC, but can also be paid by other tokens, such as $ USDT).This allows users to access AA on the EVM network without downloading additional plugins/applications or management different keys.
The BTC Connect expands the function of the Bitcoin wallet, allowing users to use a single wallet to send local Bitcoin transactions, interact with the Ordinal ecosystem, and perform logic on the compatible EVM DAPP and Bitcoin L2 (including no GAS and non -pop -up window interaction).Essence
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In short, the public key of the Bitcoin wallet connected by the user is directly used to execute the Bitcoin transaction of the machine and generate EVM EOA.The EOA is also used to create a smart account and use the Bitcoin wallet as its signature.This makes the signatures of Bitcoin wallets compatible with EVM, allowing the same wallet to process seamless AA -drive Bitcoin main network and Layer2 transactions.
Tokens
After the main network is launched
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GM GAS tokens:
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The tokens of Particle Network will be used as key components in the PARTICLE General account model, which will be supported by its modular L1.The transactions performed by general accounts (usually cross -chain operations) only depend on the acting to perform without multiple independent native GAS token.
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Safety:
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PARTICLE Network tokens protect PARTICLE’s modular L1 through its dual pledge mechanism, as half of its consensus model.It pledge with the re -pledged ETH to enhance network security.
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Governance:
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Token holders will have the opportunity to vote for public governance proposals affecting the operation of particle network infrastructure.
Network tokens provide users with many benefits, including:
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Convenience:
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As mentioned earlier, PARTICLE’s MODULAR L1 will be paid through a single token unified GAS, making the end user’s interaction with the WEB3 easier.
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Adjust incentive measures:
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Perhaps more importantly, the PARTICLE network tokens turned DAPP, other blockchain, developers and particle into growth partners.This model avoids the typical SaaS business model of wallet abstract tools, and greatly accelerates the growth of particle networks.
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Team and financing information
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The CEO and CTO of the project are both Chinese:
Wang Pengyu is the founder and CEO of Particle Network. He is also the founder of MINIJOY, India and Europe and the United States. He has worked in Huaxing Capital and Saifu Investment and graduated from Tsinghua University.
Pan Tao is the co -founder and CTO of Particle Network. He has served as the head of the same table game CTO and overseas business. He has graduated from Tsinghua University.
In May 2022, the $ 1.5 million Pre-Seed financing led by the LONGHASH VENTUNTUNTURES, valued at $ 30 million;
In March 2023, obtained 7 million US dollars of seed round financing led by ABCDE Capital;
In April 2023, the number was unknown to Cobo Ventures strategic financing.
Summarize
Particle Network hopes to solve the current existing multi -chain fragmentation problem by building its own modular layer1 and achieve the goal of chain abstraction, so that users can manage accounts and liquidity on different chains under the unified interface without downloading various types without downloading various typesWallets for complex cross -chain transactions.
However, various cross -chain transactions need to be compatible with different standards at the bottom layer. It may be difficult to comparable to the single chain in the short term. At the same time, technical details will be more complicated and difficult to land.At the same time, the account abstraction sacrifices users a certain security, and new users enter the assets that need to be migrated. This needs to be observed in follow -up.
