Particle Network: The Midfield Battle of Web3

Author: 99 Global

Introduction

Before the wave of Web 3, almost all consumer-facing business models were based on traffic economy, or more accurately, advertising models.

Platforms continuously gathered user numbers and converted them into commercially viable traffic, which was then sold to advertisers, completing the ecosystem's closed loop.

This has been proven to be the most efficient monetization method. However, as the era of crypto arrives, what we see more is the confusion of Web 2 practitioners:

• Developers need to relearn the tech stack to develop public chains, smart contracts, tokens, wallets, and other new components;
• Project teams need to understand entirely new products to adapt to future trends such as GameFi, the metaverse, NFTs, and cross-chain.

Moreover, a significant portion of Web 3 practitioners overly emphasize the advantages of being Crypto Native, leading to a divide between Web 2 and Web 3.

Middleware: Bridging the Gap Between Developers and Web 3

In fact, both Web 2 and Web 3 are in the business of traffic; however, due to the principles of decentralization and technological characteristics, the existing model of "infringing privacy - collecting data - selling ads" can no longer sustain itself and needs to transform into a model of "providing products - ensuring privacy - tokenizing data (traffic) - profit-sharing between project teams and users," where the key lies in the introduction of token mechanisms.

Taking Particle Network as an example, it sets up a tiered pricing mechanism based on the MAU of dApps. This emphasizes borrowing operational ideas from Web 2 products, where product usage is first used as an incentive, followed by the establishment of a charging model.

With the help of token mechanisms, the revenues of products, applications, and protocols can be monetized, allowing users and project teams to achieve a win-win situation while ensuring the protection of personal privacy. This is the true advantage of Web 3 products over traditional products.

However, during the actual product development process, some tricky challenges arise:

Step 1: Login interface, requiring DID, wallets, private keys, and mnemonic phrases, as well as signature and contract interaction steps;

Step 2: Interaction interface, requiring token swaps, NFT transactions, and transfers between public chains and cross-chains;

Step 3: Reliability, requiring low latency, front-end and back-end data synchronization, and the continuity of the value of its own token steps;

In the early stages of public chain development, we could rely on the hard work of developers to maintain the most basic operational efficiency. However, in the increasingly complex ecosystem today, as Particle Network mentions in various scenarios such as "metaverse, GameFi, X to Earn, DAO, wallets/payments, mobile DeFi," addressing developers' pain points is the first principle for the development of Web 3.

For example, taking Particle Network's development platform as an example, it is closer to the concept of Web 3 middleware, covering all aspects and steps of developing Web 3 products from start to finish, providing a glimpse into the foundational appearance of future development platforms:

• User Identity System, using MPC (Multi-Party Computation) to replace private keys and mnemonic phrases, introducing multi-signature and social recovery features, and supporting direct interaction with dApps via phone numbers, emails, and social media, providing users with the security of Web 3 + the user experience of Web 2;
• Wallet Integration System, using the integrated Wallet API from Particle Network, supporting fiat deposits and withdrawals, transfers and interactions with stablecoins like USDT/USDC, as well as token display and trading functions, allowing developers to focus on the functionalities they need without worrying about the specific operation of wallets.
• NFT Service System, featuring an NFT Launchpad, various NFT trading formats, supporting EVM-compatible chains, Solana, and AVAX, as well as analytical tools, enabling the direct one-stop setup of NFT trading platforms;
• Multi-Chain Support System, where both front-end and back-end development do not need to consider complex public chain interaction issues, seamlessly linking assets, users, and data across different public chains through a unified API for token and NFT trading.

Reducing development pressure is an essential path for Web 3 applications to move towards mainstream adoption.

Conclusion

As 2022 begins, the crypto field will inevitably be accompanied by a broader trend of breaking boundaries, from the policy warming in Hong Kong to the FTX crisis. A truly decentralized on-chain world is taking shape, while most developers and users are still seeking consensus on the intersection of privacy protection and traffic monetization.

From past historical experiences, the best path remains to simplify the complex logic of large-scale user access, allowing users to experience the advantages of Web 3 products painlessly, thereby promoting continuous product iteration and ultimately replacing traditional internet models.

Taking the Particle Network team as an example, they have developed multiple games during the Web 2 era, achieving daily active users of up to tens of millions, and have explored overseas markets such as India.

In the next bull market cycle, more Chinese teams will bridge the gap between domestic and overseas markets, Web 2 and Web 3, as well as between developers and users, building a unified decentralized habitat for the soul.

Why Does 99 Global Invest in Particle Network?

99Global Ventures is an early-stage Web3 investment fund driven by research, dedicated to investing in and accompanying outstanding entrepreneurs to promote the development of the Web3 industry.

We believe that:

The Particle Network team has rich experience in game development and operations from the Web 2 era, achieving remarkable results in the traditional internet era, with solid market research and engineering practice capabilities.
As a full-stack Web 3 infrastructure, Particle Network has a vast market potential. It empowers developers to "solve productivity and return to creativity."

As Web3 gradually moves towards large-scale applications, we believe that projects like Particle Network can provide the foundation for the emergence of Web3 Killer Apps.