A brief analysis of Particle Network: the leader of chain abstract narrative

author:Ash

Compiled by: Xiaobai Navigation coderworld

Everyone has experienced this:

a) A shiny new coin is launched on a new chain

b) Desperately researching which cross-chain bridge to use

c) Pray that the cross-chain bridge can transmit transactions smoothly

d) When other assets are bridged, the shiny new coin is no longer shiny

Or remember all those times when there were stablecoins on-chain but no gas fees to do any transactions?

Next, I will share whyChain AbstractionSo important, and a project that I think is leading the trend:@ParticleNtwrk.

1. Importance of chain abstraction:

Today, there are hundreds of chains in the industry, although with theL2The launch of blockchain and L3 chains has become easier, and there may be thousands of chains in the future; but most of these chains are decentralized and isolated.

The dream of chain abstraction is simple: to interact with dApps on any chain without having to manually cross chains. In simple terms, it is to be able to trade across chains as if all chains were unified into one.

Crypto dApps should be usable out of the box without tinkeringwalletA. Chain B. Gas C.

@ParticleNtwrk This fragmentation problem will be solved by implementing chain abstraction, allowing each dApp to use a single balance.

2. Three core functions provided to users:

• Universal liquidity

• General Account

• General gas

Imagine using anywalletto leverage a single balance across hundreds of chains; this is the user experience enabled by the above core features. , each core feature is easy to understand.

Universal liquidity

Unified cross-chain liquidity. They can interact with new chains seamlessly even if they have never explored that chain before (remember the cross-chain bridge analogy).

General Account

Single point of interaction across all chains, with a single address and balance — no manual cross-chain movement required.

@Rabby_io and @DeBankDeFi We are the pioneers in visualizing EVM assets in a single view, but imagine taking this to the next level and using your balances on any chain without having to cross chains.

General gas

Allows any on any chainTokenPay gas fees. No need to hold differentTokenTo pay the gas fee.

Key Highlights

• Extensive partner network (infrastructure, 60+ chains, 900+ dApps).

• Testnet Phase 1 had over 600,000 general accounts in less than 1 week.

3. Example

Here are some of the use cases I explored that were critical to my quick understanding of how this would impact our on-chain interactions.

Unified Balance

• At any given time, my balance is usually spread across various chains (e.g. $10K balance unevenly spread across Eth, Arbi, Sol, etc).

• Chain abstraction means that I will treat and use a balance totaling $10K.

Gas Replenishment

• picture @gasdotzip Such dApps help to easily get started with new chains.

• With chain abstraction, this may become a thing of the past, as anyTokenBoth can be used to pay gas fees.

4. How to try out the chain abstraction

• Participate in Particle Network’s testnet: https://pioneer.particle.network/en

• Deposit tokens from the testnet to get universal gas (USDG)

• Check in daily and do some trading

• Points will be used towards the upcoming$PARTIairdrop

5. cooperate

Chain abstraction will be the driving forcecryptocurrencyAs blockchain is one of the keys to mass adoption, it’s not hard to see other teams dabbling in this space, each with their own insights and innovations.

• @NEARProtocol : https://pages.near.org/blog/why-chain-abstraction-is-the-next-frontier-for-web3/

• @SocketProtocol : https://mirror.xyz/0x6FD2bd90D50eDEe139103454116F252f6F5eC928/zePFPVi6oPI2o_Q6jDrGYn6SBVOGMybnFKQJ-DDVKqc

• @0xPolygon AggLayer: https://polygon.technology/blog/aggregated-blockchains-a-new-thesis

As there are various modular DAs (@CelestiaOrg, @AvailProject and @eigen_da), the chain abstraction space looks set to follow the same trend, with teams competing to become market leaders.

6. personal opinion

• The problem statement is clear, chain abstraction is here to stay and teams are working hard to solve long-standing pain points for crypto users.

• The core functionality (universal accounts/liquidity/gas fees) and use cases are easy to understand for most regular users, making it easier to get started in the industry.

• Partnerships are growing rapidly and user interest is increasing at a similar rate.

• Raised over $26.5 million from top venture capital firms (including @Signum_Capital), the team has sufficient funds to realize their vision and invest inCommunityexcitation.

7. What's next?

• As mentioned above, there are a number of competitors coming, which may bring a different set of problems (for example, balances on different chain abstraction projects may not be integrated with each other).

• From a developer’s perspective, choosing a chain abstraction solution can also be challenging (for more information read aboutBlog post on chain abstract ecology).

• $PARTI The token will be launched soon and I am looking forward to seeing what token economics/flywheel mechanisms are in place.

Attached test network information:

• Website: https://pioneer.particle.network/en

• Testnet ETH (Sepolia): https://alchemy.com/faucets/ethereum-sepolia

• Testnet USDC: https://faucet.circle.com

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