Particle Network, a blockchain initiative focused on unifying all chains through Universal Accounts, has received funding from Binance Labs to develop a Layer 1 solution. This collaboration aims to address the issue of user and liquidity fragmentation in the Web3 ecosystem.
The funding from Binance Labs will support Particle Network in building its Chain Abstraction infrastructure, which will allow users to maintain a single account and balance across multiple chains. This eliminates the need for manual bridging or asset management across different networks, making it easier for users to navigate the increasingly diverse blockchain landscape.
The introduction of Universal Accounts by Particle Network promises a unified experience for users, regardless of the chain they are operating on. This innovation could significantly lower the barrier to mainstream adoption of blockchain technology by simplifying the user experience and making it more accessible.
Yi He, Co-Founder of Binance and Head of Binance Labs, expressed the importance of supporting innovative products that can onboard more users into Web3. The partnership between Binance Labs and Particle Network marks a significant milestone in advancing the adoption of Chain Abstraction and making Web3 more user-friendly.
Particle Network plans to use the funding to expand its team globally, enhance its Chain Abstraction ecosystem, and launch its L1 Mainnet later this year. With the support of Binance Labs, Particle Network is poised to accelerate the mass adoption of Web3 and make blockchain technology more accessible to everyone.
