Web3 Revolution Particle Network Investment by Binance Labs
Binance Labs just invested heavily in Particle Network. A Layer 1 blockchain will be created with this investment. The project provides Universal Accounts to overcome blockchain fragmentation.
Layer 1 Solution Unveiled by Particle Network
Particle Network's Layer 1 solution connects blockchain platforms. Its Chain Abstraction design includes Universal Accounts, Liquidity, Gas, and Particle L1 chain. It addresses distant user bases and the need for additional liquidity in diverse blockchains.
Universal Accounts are vital because they allow blockchains to communicate. Universal Liquidity improves chain-wide asset transfer and trading. Universal Gas simplifies transactions by standardizing gas pricing, allowing chains to communicate.
Binance Labs Funds Particle Network
As part of its venture financing and incubator initiative, Binance Labs invested $25 million in Particle Network last month. Spartan Group, Gumi Crypto, SevenX Ventures, and Morningstar Ventures joined this fundraising round. Thus, Binance Labs wants to assist progressive Web3 projects.
Binance Co-founder and Labs Head Yi He stressed the importance of this investment. He stated Binance Labs invests in Web3 ecosystem-changing initiatives. Innovative solutions are used to integrate new Web3 users.
With the investment, Particle Network plans to recruit additional people and build its Chain Abstraction ecosystem. They also hope to deploy the L1 Mainnet on schedule this year. This should improve the Web3 user interface and alleviate several multiple chain issues.
