[PRESS RELEASE – Singapore, Asia, September 12th, 2024]
Since announcing their partnership at Bitcoin Nashville, Elastos and Particle Network have quickly reached a key milestone in simplifying user onboarding.Developers can now build dApps that make it easier for Web2 users to get started, expanding adoption.Elastos, a SmartWeb ecosystem provider, today announced that Particle Network, an L1 blockchain aggregator, has integrated the Elastos Smart Chain (ESC) Mainnet. This marks the first major milestone since their partnership announcement at Bitcoin Nashville 2024. The development allows users to interact with Elastos decentralized applications (dApps) using familiar Web2 logins, like Google, for a smoother onboarding experience. This step helps Elastos developers attract Web2 users to their dApps, opening new opportunities for revenue.
By simplifying the typically complex blockchain onboarding process , users can now engage with Elastos dApps without the need for crypto wallets, seed phrase management, or paying gas fees. For example, a user can log in with a Bitcoin wallet to take out a stablecoin loan using collateralized Bitcoin via Elastos’ BeL2. This funding can be used right away on the Elacity marketplace without needing ELA for gas, as those fees are covered automatically in the background. This makes the process more convenient while retaining the benefits of decentralization, including control over personal data, direct peer-to-peer interactions, and strong security and integrity.
The ability to hide complexity from users is a strategic driver for Elastos. By working with Particle Network, Elastos is able to simplify the process for users to interact with decentralized applications and BTC-backed services. This complements the work it has been doing with the BeL2 protocol to keep Bitcoin secure on its main network using zero-knowledge proofs to verify transactions and transfer collateral information across chains.
Pengyu Wang, Particle Network’s Founder, describes Particle Network’s effort toward simplifying the Web3 user experience as a major milestone in making Web3 experiences a part of everyday life.
“Web3 has introduced a wide array of blockchains and protocols that developers and users need to manage. Simplification is essential to improving this experience, enabling users to have a single, unified on-chain address and balance across various blockchains,” said Wang. “Our mainnet launch in collaboration with Elastos reflects our shared vision of making it easier for developers and users to build and experience Web3 services.”
Jonathan Hargreaves, Elastos’s Global Head of Growth, explained that, to truly rival Web2 in terms of adoption, one of the key milestones for Web3 is making it easy to interact with a dApp.
“The significance of this announcement is the simplicity that Particle Network brings to the table allowing multiple technologies to deliver a Web3 experience in an environment that will feel exactly the same as any current social media or sharing app, all assured by the World’s most ubiquitous, popular and integral decentralized currency through Elastos’ BeL2 protocol,” continued Jonathan.
Elastos’ BeL2 protocol enables users to operate easily using Bitcoin – as if they were operating in a purely native Bitcoin environment – without actually impacting the BTC layer.
“Building out a robust ecosystem around the BeL2 protocol with partners like Particle Network will be key to enabling a new economic model based around Native Bitcoin. At Token 2049, we will be hosting an event at RWA which will further demonstrate how working with our partners we will enable developers to build a whole new range of decentralized finance, music and entertainment applications.”
About Elastos
Elastos is a public blockchain project that integrates blockchain technology with a suite of reimagined platform components to produce a modern Internet infrastructure that provides intrinsic protection for privacy and digital asset ownership. The mission is to build accessible, open-source services for the world, so developers can build an internet where individuals own and control their data.
The Elastos SmartWeb platform enables organizations to recalibrate how the Internet works for them to better control their own data.
https://elastos.info
https://www.linkedin.com/company/elastosinfo/
About Particle Network
Particle Network is addressing Web3’s fragmentation of users and liquidity through Universal Accounts. Particle’s chain abstraction is powered by a Cosmos SDK L1 blockchain enabling the experience of a single account, balance, and address that can be used across all chains, allowing users to interact with any dApp and pay gas with any token.
For more information, users can go to: https://particle.network/