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ABCDE: Why did we lead the investment in Particle Network, a Web3 development platform?

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Particle Network aims to improve developer productivity and accelerate the mass adoption of Web3. Its core products are login and wallet middleware based on MPC-TSS technology.

Source: ABCDE Capital

Particle Network is a Web3 development platform aimed at improving developer efficiency and accelerating the mass adoption of Web3. Its core product is middleware for login and wallets based on MPC-TSS technology, which eliminates the need for end users to remember mnemonic phrases and use gas fees, greatly reducing the barriers to adoption of Web3.

Currently, hundreds of Dapps and games have integrated with Particle Network, making it the industry's leading wallet and login middleware, and far ahead of its competitors. In the future, Particle will become a full-stack middleware platform, greatly reducing the barriers to entry for Web3 and reaching billions of users.

ABCDE led the A round investment in Particle Network, with follow-on investments from Animoca, Longhash Ventures, GSR Ventures, Hashkey, Arcane Group, OP Crypto, Arkstream Capital and other institutions.

One, the biggest obstacle to the widespread adoption of Web3

Despite the impressive growth of Web3, it remains a relatively small niche market compared to the broader internet. Statista data shows that the number of global internet users has reached 4.6 billion. In contrast, Web3 currently has only about 10 million users. Web3 represents only a small fraction of the overall internet user base, and to realize its full potential, it needs to attract a larger user base.

The biggest obstacle in Web3 is undoubtedly the mnemonic phrase and gas fee. Currently, users need a mnemonic phrase to create a wallet. For new users, generating a mnemonic phrase is a daunting task, and the need to protect the security of the mnemonic phrase also increases the complexity of using Web3.

After creating a wallet, users also need to pay gas fees to use Web3 Dapps, which requires buying coins through OTC and then transferring them back to the wallet. For novice users, this is an important barrier to entry.

二、降低 Web3 采用门槛走向亿万用户

Translation:

2. Lowering the adoption threshold of Web3 to reach billions of users

Particle Network is the first company in the industry to use MPC-TSS technology to reduce the threshold for mnemonic words and gas.

By using Particle MPC login and wallet middleware, developers can allow users to directly log in to dApps through various methods such as phone number, email, Google, Facebook, Twitter, etc., and automatically create an on-chain, non-custodial wallet without considering mnemonic phrases and gas fees, greatly reducing the user login and usage threshold, and improving the user experience for subsequent interactions with the chain, including transfers, signatures, authorizations, etc.

Since the product launch in late October 2022, Particle Network has collaborated 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. In April, Particle Network will release the MPC+AA wallet solution, providing a cross-platform SDK and forming a product matrix of MPC+EOA and MPC+AA account abstract wallets.

In addition to wallets and login middleware, Particle Network also provides middleware products such as node services, data APIs, NFT full-stack APIs, and IPFS services.

In the future, Particle Network will become a full-stack middleware platform for developers, helping them focus on building business scenarios and unleashing productivity, making Web3 more accessible to millions of users.

About ABCDE

ABCDE is a VC that focuses on leading top Crypto Builders. It was co-founded by entrepreneurs, CEOs of listed companies, and top researchers who have been working in the Crypto industry for more than 10 years. The co-founders of ABCDE have built companies worth billions of dollars in the Crypto industry from scratch. Because we are entrepreneurs, we understand entrepreneurs better. Moreover, we have built end-to-end ecosystems for ABCDE's Builders, including listed companies (1611.HK), trading platforms (Huobi), SAAS companies (ChainUP), media (CoinTime.com), and developer platforms (BeWater.xyz). If you are a Builder with a dream of changing the world, welcome to join us in building the next generation of encrypted network world.