- Particle provides a secure infrastructure for handling crypto assets and middleware that developers can integrate directly into Web3 and crypto applications.
- Particle Network takes care of licensing and regulatory compliance to free up developers to concentrate on writing code and expanding their apps.
Recently, a middleware platform for Web3 applications called Particle Network revealed that it has secured seven million dollars in seed funding to facilitate the creation of decentralized blockchain-based applications.
Well-known cryptocurrency investors, including Animoca Brands, Longhash Ventures, Hashkey Capital, GSR Ventures, and OP Crypto, also participated in the round, which ABCDE Capital led. The business acquired USD 1.8 million in pre-seed funding in April last year.
Particle provides a secure infrastructure for handling crypto assets and middleware that developers can integrate directly into Web3 and crypto applications. The business accomplishes this by offering two main services: a wallet and an easy-to-use login system.
New users can use their existing cryptocurrency wallets, emails, phone numbers, or social media accounts to log into apps using Particle’s login service. As a result, they can access the app using any method they possess, which facilitates onboarding new users. It is also easily incorporated into the code by developers.
A “wallet-as-a-service” infrastructure, which the company claims can be up and running in under 30 minutes, can also integrate wallets quickly. The company offers a noncustodial wallet API that can be easily integrated into any decentralized application and operates quickly. Particle Wallet was created to enable developers to quickly enable users to buy, sell, and swap tokens across multiple chains, including nonfungible tokens.
The platform also gives developers everything they require to enable users to pay for cryptocurrency directly through their apps. Particle Network takes care of licensing and regulatory compliance to free up developers to concentrate on writing code and expanding their apps.
Most importantly, the multiparty computation and threshold signature scheme technology used by the software development kit and APIs ensure that users always maintain control over their tokens while utilizing Particle’s infrastructure.
Pengyu Wang, the founder of Particle Network, said, “This is how we help the developers or the projects to lower the barriers for the end users, especially for the non-crypto users. What makes us stand out is that we are not sacrificing the user’s autonomy. Because we are using MPC technologies, we done don’t have any room to do evil, so that way, we ensure that the end users still have full control over the assets.”
Particle Network supports various use cases for developers, such as decentralized finance from offering yield and staking, payments for peer-to-peer and commerce, NFTs for collectibles and marketplaces, gaming with pay-to-earn mechanics, and digital identities for the metaverse.
In addition to built-in middleware tools, Particle Network offers strong node API infrastructure support to enable quick access to blockchain data. This can make developing an app with scalable data requirements very simple. The business also offers a nonfungible token management and scaling solution, enabling NFTs to be created with various rarities, batch minted, and tooled as necessary—as required for a game or marketplace.
All blockchains that support the Ethereum Virtual Machine, including Ethereum, Solana, Tron, and Polygon, can currently use the platform’s tools.
More than 200 projects from GameFi, Web3, and NFT have joined the platform since its October launch, according to Wang. These projects include the Web3 project Ultiverse, gaming publisher FunPlus, and the Chinese video game developer Perfect World. He added, “We are trying to provide the developers with a one-stop solution to help them focus more on business.”