According to a report by The Block on December 12, PANews reports that the Web3 communication protocol Push Protocol is developing a Layer 1 blockchain called Push Chain, focusing on chain abstraction technology and supporting the development of Web3 applications across networks. Push Chain aims to address issues of fragmented user experience and scalability, with a phased launch of the testnet planned for mid-January 2025, followed by the mainnet going live by the end of the year. This blockchain will feature wallet and gas fee abstraction, sharding technology, and sub-second transaction finality, while also serving as a universal settlement layer for various Layer 1 and Layer 2 chains, supporting cross-chain operations of 'universal smart contracts.'
Previously, Push raised $10.1 million in Series A funding led by Jump Crypto and completed a seed round of financing supported by former Coinbase CTO Balaji Srinivasan and others in 2020.