Binance Labs, the venture capital arm of Binance, has invested in Particle Network. Particle Network is famous for its solution to unify various blockchain networks through Universal Accounts. This investment from Binance Labs aims to address the problems of fragmented users and liquidity in the Web3 world.
Binance Labs Boosts Particle Network for Unified Web3 Experience
At the present time, there are numerous blockchain networks present in various contexts, which include the first-layer and second-layer systems. This results in an uncoordinated experience for the users and developers, high costs of production, and poor user-interface designs.
Particle Network is a Layer 1 blockchain which provides a solution to these issues through the use of the Chain Abstraction system. It has four main features in network. These include Universal Accounts, Universal Gas, Universal Liquidity, and the Particle L1 chain. These features ensure that operational accounts & balances are achievable without necessarily having to manage the assets on each chain one by one. It allows the utilization of a single address as well as have a single balance for every chain to pay gas fees in any token.
This recent investment from Binance Labs will aid in the development of the Particle Network. The funds will be used for expanding their global team. These funds will also improve the features of their Chain Abstraction ecosystem. As a result, they will ensure a secure and efficient launch of their L1 Mainnet later this year.
Yi He and Pengyu Announce Partnership to Boost Web3 with Binance Labs
Yi He is Managing Partner of Binance Labs and the co-founder of Binance. She shared her readiness to support the founders of new projects and help them build products that will bring people into the Web3 space. They are very much looking forward to helping Particle Network to improve user experiences.
Lastly, Pengyu is the founder of Particle Network. He spoke to the team at Binance Labs and stated that they were quite privileged to have received this capital investment from this company. He stated that this is a major achievement by Particle Network. With Binance Labs’ support, they have visions to strengthen their technical expertise and grow in the global Web3 landscape.
