Particle Network deep dive: universal accounts, liquidity and gas
Thread1,033 words
Thread on account-level chain abstraction: Particle's L1 provides Universal Accounts, Liquidity and Gas across chains. Testnet phase 1 hit 600K+ accounts and 13M+ txs in under a week, with 56 chains integrated and $25M raised.
Key claims
Testnet phase 1: 600K+ universal accounts and 13M+ transactions in under a week
56 integrated chains, $25M raised incl. Spartan Group
Bridges account for 3 of the 5 largest crypto heists
1000s of applications across 100s of chains.
๐ข๐ป๐ฒ ๐๐ป๐ถ๐๐ฒ๐ฟ๐๐ฎ๐น ๐ฎ๐ฐ๐ฐ๐ผ๐๐ป๐ ๐๐ถ๐๐ต ๐ผ๐ป๐ฒ ๐๐ป๐ถ๐ณ๐ถ๐ฒ๐ฑ ๐ฏ๐ฎ๐น๐ฎ๐ป๐ฐ๐ฒ.
Enter the modular endgame.
Deep dive ๐งต on a billion $$$ narrative and an emerging infra giant that raised $25M from @TheSpartanGroup and co. t.co/CEo05gYt8h
1/ Modularity is a paradigm shift in how we build blockchains
It gives rise to novel infra layers that bring disruptive technologies to market.
This brings life-changing opportunities if you do your research early and position yourself accordingly.
2/ Modular blockchain architecture separates the core functions of a decentralized network into distinct, interchangeable layers.
In these functional areas, specialized players emerge, technologically optimized to serve only very specific purposes.
3/ Merged in rollup SDKs & with Rollup-as-a-Service as the final abstraction layer, these modular infra building blocks enable highly performant, decentralized networks.
Modular chains in various configurations that are easy to build & customized at all levels of the tech stack.
4/ As building decentralized networks becomes easier, we will enter a rollup-centric multichain future with thousands of blockchains, where many apps have their own state machine.
This modular expansion wave will have a profound impact on the Web3 landscape as a whole.
5/ Many use cases and apps that have previously suffered under the limitations of monolithic blockchains or the constraints of the EVM will become feasible at scale.
Thanks to app-specific execution logic and high-performance VMs on top of scalable, modular infra.
6/ The promise the modular thesis holds is big.
However, this Cambrian explosion of chains inevitably introduces new problems.
As the number of execution layers grows, liquidity and users are increasingly fragmented across ecosystems and apps.
x.com/ayyyeandy/status/1786103815923446131
7/ That results in friction that adversely impacts the user experience.
If you're down the crypto rabbit hole yourself, you probably know the struggle.
To take Web3 where we want it to be, there is still some work to be done.
8/ Today, tooling is highly fragmented across ecosystems, with users having to manage many wallets, app interfaces & other key services.
That means managing 10 different seed phrases for ten different chains, having to prefund gas across chains, etc.
x.com/ahboyash/status/1795410145410945465
9/ New users must hence deeply understand blockchains to be able to manage the complexity of multi-chain interactions & wallets.
And even when they do, cross-chain solutions like traditional bridges remain complex, slow and often introduce significant trust assumptions & risks.
10/ The security issue that todays fragmented and complex bridging landscape pose, is proven by the 100s of millions in on-chain funds lost to bridge exploits.
Bridges account for 3 out of 5 of the largest crypto heists of all time.
11/ So, what's the solution?
@ParticleNtwrk, a modular L1 blockchain designed for chain abstraction that enables the seamless and instant usage of balances and liquidity across any supported chain.
Modularity ๐ค Interoperability
12/ Chain abstraction solves the before-mentioned liquidity fragmentation and UX friction by completely abstracting the complexity attached to multi-chain interaction for end users.
A user experience exempt from the manual processes required to interact with multiple chains.
13/ While there are different approaches to chain abstraction, @ParticleNtwrk tackles it on the account level.
With account-level chain abstraction, users can interact across the entire ecosystem without needing to know what chain theyโre on.
x.com/Ruisnakes/status/1783829446731894808
14/ In simple words:
One Account, One Balance, Any Chain.
In @ParticleNtwrk's case powered by:
โฆ Universal Liquidity
โฆ Universal Accounts
โฆ Universal Gas
15/ ๐จ๐ป๐ถ๐๐ฒ๐ฟ๐๐ฎ๐น ๐๐ถ๐พ๐๐ถ๐ฑ๐ถ๐๐
Universal liquidity allows Universal Accounts to have a single balance, automatically routing funds across chains to pay for transactions.
@ParticleNtwrk achieves this through optimistic execution of cross-chain atomic txs and swaps.
16/ ๐จ๐ป๐ถ๐๐ฒ๐ฟ๐๐ฎ๐น ๐๐ฐ๐ฐ๐ผ๐๐ป๐๐
Accounts on @ParticleNtwrk offer a single interaction point, user address, & balance across all chains, incl. EVM & non-EVM.
This enables users to manage all assets across different blockchains through a single smart account address.
17/ For an explanation of universal accounts in (very) simple terms, check out my fren @0xNairolf's thread below.
x.com/0xNairolf/status/1800528038301732874
18/ If you want the technical details:
Universal accounts are smart account implementations deployed & coordinated across chains by the @ParticleNtwrk L1.
This fully eliminates the need for manual bridging or managing multiple wallets.
19/ So yes, chain abstraction will solve this @2lambro.
And much more.
x.com/2lambro/status/1800367205428908227
20/ ๐จ๐ป๐ถ๐๐ฒ๐ฟ๐๐ฎ๐น ๐๐ฎ๐
Universal gas eliminate the need for multiple units (SOL, ETH, MATIC, etc) across networks when transacting in a multichain ecosystem.
@ParticleNtwrk allows for gas payments using any token on any chain for any UserOperation.
21/ The backend for all of this is the @ParticleNtwrk L1.
Built on the @Cosmos SDK, @ParticleNtwrk L1 is fully modular.
It retains sovereignty, while outsourcing certain network functions to specialized infra providers such as DA layers like @CelestiaOrg or @AvailProject.
22/ @ParticleNtwrk is a leader in the chain abstraction game & has a proven track record working on account abstraction solutions in the Ethereum ecosystem.
23/ Furthermore, the @ParticleNtwrk Testnet Phase 1 reached:
โฆ 600K+ Universal Accounts
โฆ 13M+ transactions
Both in less than a week. ๐
Impressive. ๐คฏ
24/ With over 56 integrated chains and many high-profile infra partners, @ParticleNtwrk stands at the center of a thriving modular ecosystem.
As the chain abstraction hub of the modular stack, it will enable a next generation of multichain apps with a UX ready for mass adoption.
25/ The innovative approach to unify the entire modular stack on an account-level has garnered significant attention and investor interest.
This is impressively evidenced in @ParticleNtwrk's backer lineup and the total of $25M in funds raised.
x.com/ParticleNtwrk/status/1803795878253088913
26/ Unsurprising though, considering that @ParticleNtwrk or chain abstraction more broadly is the missing piece to the modular puzzle.
Without chain abstraction, the modular thesis will not reach its full potential.
A billion $$$ narrative is emerging in front of your eyes.
27/ So, what can you do?
DYOR and use these protocols anon.
Chain abstraction will be one of the biggest narratives of the cycle.
It will come with opportunities for airdrops, investments and simplifying your life in Web3.
Don't fade this.
That's a wrap for today! I hope you've found this thread helpful! ๐ซก
Make sure to follow me @zerokn0wledge_ to stay ahead of the curve on the chain abstraction narrative!
Like/Repost of the below post is also highly appreciated! ๐๐
13 more images on X
What came next ยท since 02 Jul 2024
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Zero has written 10 more pieces on Particle Network since this one.
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