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Particle Community Proclaims Modular L1 Powering Chain Abstraction

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On March 19, 2024, the group of Particle Community goes to kick off the method of probably the most profound transition in its whole historical past. The brand new design of the protocol will advance its interoperability, usability and gasoline beforehand unseen use instances throughout varied forms of blockchains.

Particle Community turns into modular L1 for novel use instances: Particulars

Particle Community, a number one supplier of account and pockets abstraction options, has introduced its transition to the standing of modular layer-1 blockchain powering chain abstraction and common accounts.

Particle Network

This transition might be facilitated by Particle Community’s proprietary progressive mechanism that employs a grasp good contract on Particle Community’s L1 to coordinate and management good accounts throughout over 50+ chains for a seamless multichain expertise.

Particle Community’s modular L1 will subsequently inherit the success of beforehand launched merchandise, together with BTC Join, with over $2 billion in TVL, and seamlessly onboard Particle Pockets customers and their property.

This launch marks a big milestone in Particle Community’s journey, constructing upon its wealthy historical past of innovation and its mission to ship seamless, user-friendly blockchain options.

Based in 2022 with the imaginative and prescient of empowering builders and Web3 finish customers, Particle Community has constructed a profitable observe report in addressing the complexities of asset administration and person onboarding and retention in Web3.

Particle Community pioneers the idea of chain abstraction

Particle Community’s modular L1 blockchain powers chain abstraction by coordinating accounts throughout chains whereas abstracting gasoline and unifying liquidity. This empowers present L1s and L2s with seamless cross-communication and asset settlement.

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Constructed utilizing the cutting-edge Cosmos SDK, Particle Community’s Modular L1 introduces a number of progressive options, akin to a twin staking mannequin leveraging EigenLayer’s restaking options and Particle Community’s personal token.

Particle Community’s L1 Common Accounts will use Common Liquidity for seamless cross-chain transactions, supported by a single Common Fuel Token to simplify gasoline funds and scale back friction for customers.

Particle Community’s L1 Common Accounts empower customers with one tackle for all chains, together with the BTC and EVM ecosystem making a single interplay level.

Moreover, Particle Community’s modular L1 combines modular structure’s sovereignty and scalability with the unified liquidity and person expertise of single-chain techniques.

Particle’s L1 additionally introduces a novel system aggregating knowledge availability suppliers akin to Avail, EigenDA, Celestia and NEAR DA. This enables it to retain excessive decentralization, scalability and efficiency. All these options not solely simplify the expertise of finish customers but in addition enable builders to take their dApps to a broader viewers, unconstrained by multichain fragmentation.

With a sturdy basis of greater than 17 million customers, 4 million every day energetic customers, two billion in complete worth locked, and a vibrant neighborhood, Particle Community is properly positioned to make this launch a convincing success. The corporate’s sturdy observe report, evidenced by its intensive partnerships and energetic person engagement, underscores its dedication to main the evolution towards a extra built-in and user-friendly blockchain ecosystem.

As Particle Community embarks on this thrilling new chapter, it outlines a mushy roadmap that features the launch of its testnet and V1 mainnet in Q1, 2024, adopted by the introduction of twin staking and abstracted DA testnet in Q2, 2024. This collection of improvements paves the best way towards a future the place blockchain know-how is extra accessible, environment friendly and unified than ever earlier than.

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