Particle 102: WaaS Up? Wallet-as-a-Service, A Paradigm Shift For dApp Development

Particle 102: WaaS Up? Wallet-as-a-Service, A Paradigm Shift For dApp Development

Table of Contents:

Introduction

We are currently experiencing an exciting shift from Web 2.0 to Web3, with rapid advancements in the blockchain space. One standout innovation is the Wallet-as-a-Service (WaaS) provided by Particle Network. This article delves into the essence of this solution and its impact on Web3 development.

Why Wallet-as-a-Service is Crucial for Web3's User Experience

With a growing number of users adopting Web3 products, traditional browser plugins and third-party wallet redirections can no longer satisfy user expectations. Particle’s WaaS addresses these challenges by offering numerous benefits when integrated into dApps, allowing developers to focus on product logic and bringing innovative applications to the Web3 landscape more efficiently and effectively.

Exploring Particle’s core offerings

Particle has created an all-inclusive toolkit to simplify development for wallet features:

  • Auth SDK: A smooth login experience for both Web 2.0 and Web3 users.
  • Wallet SDK: Customizable UI and SDK methods for effortless wallet interactions and asset management.
  • Fiat on-and-off ramps: Integration with multiple global vendors for seamless fiat-to-crypto transactions and automatic routings for the best exchange rate.
  • Cross-platform: Compatibility across desktop, iOS, Android, Flutter, Unity, Unreal, React Native, and other platforms.
  • Chain-agnostic: Supports all EVM-compatible and non-EVM chains such as Solana.

Social Login: Bridging the Gap Between Web 2.0 and Web3

User experience with and without Particle’s Auth SDK for user onboarding.

One major hurdle faced by newcomers to the world of cryptocurrencies is the steep learning curve associated with managing private keys and wallets. Particle Network’s Wallet-as-a-Service introduces a social login feature allowing users to access dApps using their existing social media accounts, such as Google or Facebook. By simplifying the onboarding process, Social Login encourages wider adoption of Web 3.0 applications, allowing users to experience decentralized technology's benefits without creating and managing private keys or seed phrases. This seamless integration fosters a user-friendly environment and helps drive the growth and success of Web3 applications, improving the conversion rate from 15% to 75% on average.

Prioritizing security: Particle’s commitment to user safety

Digital security is paramount, and Particle Network takes this responsibility seriously. Our WaaS solutions offer:

  1. MPC-TSS technology: An advanced wallet solution that removes the need for traditional private keys.
  2. Server-side computation and risk management: Enhances security while preserving user privacy.

For more information on the security philosophy of Particle Network, please refer to the previous blog: Particle 101: MPC-TSS & Social Login — Seamless Web3 Onboarding for the Next Billion Users.

Flexibility and customization: the key to user success

An intuitive WaaS interface for UI customization.

A major advantage of Particle’s Wallet-as-a-Service solution is its flexibility and customization capabilities. This allows developers to create unique, tailored user experiences, helping their dApps stand out in an increasingly competitive market.

Developers can customize the appearance of various components, such as email and SMS designs, login and verification pages, transaction pages, and more. They can also configure design elements like background and button colors, border styles, logos, fonts, and choose between light or dark modes.

Additionally, Particle’s WaaS enables developers to configure platform functionality according to user needs. They can specify supported tokens for trading, choose chains to include in the app, highlight specific tokens or NFTs, set default currencies for displaying prices, enable WalletConnect, and decide whether to offer multi-language support, among other features.

Easy on-ramp services: Making Web3 accessible for newcomers

Particle Network recognizes the challenges of onboarding newcomers to Web3. To ease this transition, they have integrated their on-ramp service with seven different vendors across 156 countries, supporting 36 types of fiat currencies. This wide-ranging approach allows users to effortlessly select the best rate for converting mainstream tokens, whether for paying gas or purchasing digital assets.

One standout vendor is Mercury, offering a non-KYC on-ramp for purchases under 700 USD. This level of convenience is unmatched in the Web3 space, making it simpler than ever for newcomers to participate in the decentralized ecosystem without obstacles.

In-app token swaps: get the best rates via integrated DEXs

Particle Network’s Wallet-as-a-Service solution enhances user experience by integrating multiple decentralized exchanges (DEXs) to provide the best swapping rates for users. By collaborating with leading providers such as 1inch and others, Particle ensures that users can enjoy the latest innovations in the DeFi space without any hassle.

This integration offers several advantages for dApp developers. First, it eliminates the need to redirect users to external platforms for token swaps, maintaining a seamless user experience. Second, developers can avoid creating their own DEX and instead leverage the industry’s best solutions with deepened liquidity, enabling users to enjoy the most competitive rates when swapping crypto.

As a result, users are more likely to engage in token swaps without hesitation, unconsciously boosting the value of in-game assets and improving the overall success of the dApp.

Conclusion

If you’re a developer looking to create a unique and user-friendly Web3 application or a user interested in experiencing the future of decentralized technology, we invite you to try Particle Network’s Wallet-as-a-Service. Discover how Particle’s innovative solutions can revolutionize your journey and propel your project to new heights.


Particle Network's Modular Smart Wallet-as-a-Service solutions are 100% free for developers and teams. If you have any inquiries about integrating with us, feel free to book a meeting with one of our agents!


About Particle Network

Particle Network Logo

Particle Network is building the Intent-Centric Access Layer of Web3. Particle's Modular Smart Wallet-as-a-Service tools allow developers to tap into MPC-TSS and social logins to enable self-custodial, dApp-embedded wallets accessible through users' Web2 accounts. This also allows them to leverage ERC-4337 account abstraction, enabling a seamless experience with maximum flexibility. Similarly, Particle Network has already released the first-ever account abstraction protocol for the Bitcoin ecosystem, BTC Connect. Particle's next evolutionary steps include the introduction of Omnichain Abstraction, a Confidential zkStack, and the Intent Fusion Protocol, elevating users' experience within dApps and paving the way for mass Web3 adoption.

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About the author(s)

Pengyu

Pengyu

Co-founder of Particle Network