Universal Accounts Are Going Live! Here’s What’s Next and How To Prepare for It
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You read it well: Universal Accounts are going live!
Throughout the past months, we’ve been positively surprised by the community’s support. Ever since we went live on Testnet, millions of Universal Account Testnet transactions have gone live through Particle Pioneer. We’ve also received increasingly positive feedback on Universal Accounts’ design and our chain abstraction stack from other industry players.
So, after months of building and hard work, we are ready to launch this first-of-its-kind product to push Web3 one step forward.
Here are all the details you need to know about Universal Accounts’ release and how you can make the most out of it.
Breaking records
As mentioned in this article’s opening, the Web3 community has been nothing short of welcoming towards our chain abstraction goals.
Across our many activations and in the process of spreading the word about Web3’s unification, we have witnessed:
- 60+ blockchains, including industry leaders like Arbitrum, Berachain, Avalanche, BNB Chain, and Linea, uniting to fight fragmentation in Web3 by forming the Chain Abstraction Coalition.
- The completion of four waves of Co-Testnets encompassing 11 members of the Coalition, including chains like Arbitrum, Base, Berachain, and Taiko.
- The participation of 1.6 million users in Particle Pioneer, where we stress-tested the bleeding edge features of Universal Accounts.
- More than 200 million Universal Account Testnet transactions, showcasing the power of a unified address and balance to users across Web3.
All of these have contributed to the testing of Universal Accounts and, as such, to the goal of creating a cohesive, borderless ecosystem. Next, let us tell you about the next steps in our rollout of Universal Accounts.
The Chain Abstraction Coalition was formed by a collective of chains striving to unify Web3.
Next steps: Universal Accounts’ release
Universal Accounts embody a vision of Web3 where fragmentation is finally overcome.
By trivializing interactions across chains, chain abstraction brings us closer to a unified, borderless Web landscape, where users aren’t siloed within specific ecosystems. This vision is about creating a Web3 that is not only more accessible, but also truly integrated and cohesive.
Our Mainnet release will occur in two stages: Early Access and Public Beta.
Early Access phase
Starting on September 9th, 2024 (that is, as this article goes live!) Particle Pioneer will host the official waitlist for Universal Accounts’ go-live, open to anyone. Furthermore, once public onboarding starts, users will be able to continue earning points by using a fully live, early implementation of Universal Accounts. Pioneer programs will cease to issue $PARTI points to Testnet users on September 13th.
Furthermore, on the third week of September, Particle Network’s partners, friends at Token 2049, key industry leaders and various researchers will be onboarded to an Early Access implementation of Universal Accounts for testing and feedback.
What’s on Early Access Universal Accounts?
This release will feature a Mainnet implementation of Universal Accounts, Universal Liquidity, and Universal Gas, live across Ethereum, BNB Chain, Arbitrum, Optimism, and Base, also leveraging Particle Network’s Wallet Abstraction. This means that:
- Users will be able to create a Universal Account using any Web3 wallet, social login, email account, or even biometric data, eliminating the need to manage additional private keys.
- Within their account, users will have a single address for all of these networks’ assets.
- Users’ balance will be unified across every participating network, meaning that they can use their assets as if they were on a single chain (e.g., if a user has $100 on Chain A, $200 on Chain B, and $200 on Chain C, they can purchase a $500 NFT in just one click.)
- Universal Accounts will allow users three key functions, all leveraging a unified balance and address: Sending, receiving, and converting assets across supported networks.
- Gas for any transaction can be paid with any token a user holds, massively simplifying the Web3 experience.
Universal Accounts: Demo.
Public Beta phase
A few weeks after the opening of the Early Access phase, we will kick off our Public Beta phase. In this phase, Universal Accounts will be upgraded with advanced features, taking the chain abstraction game to the next level.
This stage will open Universal Accounts to whitelisted users, and present different dynamics to resume the community campaigns of Particle Pioneer. In other words, the action won’t stop!
Some of the new features present within Universal Accounts’ upgrade will include:
- Additional supported networks.
- Expanded support for Web3 platforms.
- Special features and benefits, to be announced separately.
The Abstraction Era begins
Universal Accounts, a first-of-its-kind solution, substantially simplify Web3 by unifying fragmented chains into a single, user-friendly experience. We’re kickstarting the Abstraction Era, where accessibility and simplicity reign supreme.
The difficulty of navigating multiple chains has long been an impediment to our industry’s expansion—one that we hope will soon cease to exist.
Chain abstraction is inevitable.
Particle Network's Wallet Abstraction solutions are 100% free for developers and teams. By integrating them, you can set your project in a path to leveraging chain abstraction.
About Particle Network
Particle Network is addressing Web3's fragmentation of users and liquidity through Universal Accounts. Particle's chain abstraction is powered by a Cosmos SDK L1 blockchain enabling the experience of a single account, balance, and address that can be used across all chains, allowing users to interact with any dApp and pay gas with any token.
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