March 24th, 2023 | BMAN

Particle Network is a middleware platform for Web3 developers that aims to enhance their development efficiency and accelerate the mass adoption of Web3. Its core product is a login and wallet middleware based on MPC-TSS technology. There is no need for end users to memorize mnemonic words and use gas fees, which greatly reduces the threshold for Web3 adoption.

Currently, Particle Network has onboarded more than 200 Dapps and games, which has become the industry’s leading wallet and login middleware by a wide margin. In the future, Particle will become a full-stack middleware platform, greatly reducing the barriers to adoption for Web3.

ABCDE has led Particle Network’s Series A funding round, with participation from institutions such as Animoca, Longhash Ventures, GSR Ventures, Hashkey, Arcane Group, OP Crypto, and Arkstream Capital, etc.

1、The Biggest Barrier to Mass Adoption of web3

Despite the impressive growth of Web3, it is still a relatively small niche compared to the broader internet. According to a report by Statista, the number of internet users worldwide is expected to reach 4.6 billion by 2025. In contrast, Web3 currently has around 10 million users. This means that Web3 represents just a tiny fraction of the overall internet user base.

This is where the importance of mass adoption comes in. For Web3 to realize its full potential, it needs to attract a much larger user base.

However, the biggest obstacles for Web3 adoption are the mnemonic phrase and gas fees. Currently, users need a mnemonic phrase to create a wallet, which is a daunting task for new users. Additionally, the need to protect the security of the mnemonic phrase increases the complexity of using Web3.

After creating a wallet, users also need to pay gas fees to use Web3 Dapps, which requires purchasing tokens through OTC and transferring them back to the wallet. For novice users, this is a significant barrier to entry that may discourage them from using Web3.

2. Lower the Barriers of Web3 Adoption through Particle Network

Particle Network is the first company in the industry to apply MPC-TSS technology to particularly removed the threshold of mnemonic and gas fee for Web3 adoption.

By using Particle MPC login and wallet middleware, developers can enable their end-users to log in directly to dApps via various means such as phone, email, Google, Facebook, Twitter, etc., and automatically create an on-chain, non-custodial wallet within the dApp, without considering private key and gas fee. The use of Particle Network significantly lowers the user login threshold and greatly improves the user experience in subsequent interactions with the chain, including transfers, signatures, authorizations, and more.

Since its product launch in late October 2022, Particle Network has partnered with hundreds of Web3 projects, including traditional gaming giants such as FunPlus and Perfect World, as well as emerging Web3 gaming projects such as Era7 and Ultiverse. Particle Network has recently completed a code audit by CertiK and will soon open-source its core code while providing a range of open-source tools.

In April, Particle Network will release its MPC+AA wallet solution, providing cross-platform SDKs and forming a variety of product matrices for both MPC+EOA and MPC+AA wallets to meet different project needs.

In addition to login and wallet middleware, Particle Network also offers Nodes Services, Data API, NFT Full-stack API/IPFS services, and other middleware products. In the future, Particle Network aims to become a full-stack middleware platform for developers, helping them focus on building business scenarios, unleashing productivity and promoting Web3 to hundreds of millions of users.

About ABCDE

ABCDE is a VC focused on leading investment in top Crypto Builders. It was co-founded by Huobi Cofounder Du Jun and former Internet and Crypto entrepreneur BMAN， who both have been in the Crypto industry for more than 10 years. The co-founders of ABCDE have built multi-billion dollar companies in the Crypto industry from the ground up. Because we are builders, we understand builders better. Moreover, we have built an end-to-end ecosystem for our builders, including listed companies(1611.HK), exchanges(Huobi), SAAS companies(ChainUP.com), media(CoinTime.com), and developers platforms(BeWater.xyz). If you are a Builder with the dream of changing the world, join us to build the next-generation encrypted network.

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