Interview: How Particle Network, the Web3 development platform, is a composable crypto world infrastructure

The rapid growth of cryptocurrencies over the last decade or so has caused much controversy, with many seeing cryptocurrencies as an overheated speculative hype and blockchain unnecessarily complicating fairly simple concepts in technology, and there is scepticism about when blockchain will change the underlying facilities of our internet, and caution in adopting new technologies is not an inherent problem unique to blockchain. This issue has arisen in the past in smartphones, open source technology, the internet and artificial intelligence AI. The problem is that the technology is in its early stages of development and the industry does not yet have the quality developer tools that will enable developer acceptance. The inflection point for the growth and expansion of these technologies has been the creation of sophisticated developer tools and platforms, such as software development kits and libraries, with which ordinary developers can easily use these often complex new technologies to build interesting use cases, and it will be easier for Web 2.0 developers and enterprises to move to Web 3.0.

Today, building and running decentralised application DApps is an extremely costly and difficult process – from cross-chain data indexing, running nodes, authentication and cross-platform development. Because of these difficulties, it is difficult for developers and enterprises to truly explore the features that blockchain has to offer, often getting bogged down or hindered by its complexity.

Today AllRecode invited Pengyu, founder of Particle Network, a newcomer to the Web 3.0 development platform, to talk about how it is addressing the challenges facing existing Web 3.0 development.

What is Particle Network?

Particle Network is a mobile-first, data-driven and composable Web3 development platform with a vision to accelerate the transition from the traditional world to a Web 3.0 world. The specific product is similar to a middleware platform that helps developers quickly implement Authentication, Wallet, NFT trading marketplace and on-chain data indexing through API calls, while providing enhanced Node services. It supports cross-platform development such as web services + native mobile and PC, and supports multi-chain development and deployment such as Solana + EVM chain. It aims to create a single on-chain development workflow for developers to quickly build cross-end and cross-chain Web3 products.

Interview: How Particle Network, the Web3 development platform, is a composable crypto world infrastructure

The following interview has been partially revised to indicate clarity.

The market has been bad recently, let me ask a question first, will there be any worries about a bear market?

On the whole, we don’t feel that the market will be more depressing when it enters a bear market, instead we will be a bit more relaxed and can seriously build products and concentrate on serving our customers, which is actually a particularly friendly phase for Holder or Builder. I personally have been speculating on coins for a long time, and after experiencing several waves of bull and bear transitions, I think the bear market is a bull market for Holder and Builder.

I just heard you repeatedly mention the Authentication feature, why is this user login thing so important?

In terms of the business funnel, user login is the first tier of business metrics apart from application open rates. If the churn rate in this area is too high, the business ceiling will be very low even if the conversion funnel is well optimised.

For Web3 products, this is even more important because new user login is essentially a way to help users create an on-chain identity system, and how smoothly new users can enter the on-chain world directly determines whether the Web3 product is an inbound niche product or an outbound consumer product. However, the user login method of the Web3 product we are currently concerned about is mainly relying on the mainstream wallet + WalletConnect jump, which is actually very unfriendly to Newcomers in the Web3 world. We have a data indicator that about 60% of Web3 Newcomers will be lost in the helper registration wallet session.

Interview: How Particle Network, the Web3 development platform, is a composable crypto world infrastructure

So what is your solution for Authentication?

We integrate Web2+Web3 login, so that a user who does not have a wallet can choose to log in using her familiar social login methods such as phone, email or Facebook or Google. If a user has a Web3 wallet, we can also support her with a private key import. We have integrated a very rich set of login options, including Google, Facebook, Reddit, Discord, Github, Steam ID and more.

So what were the challenges of this solution, which from a non-technical point of view seemed like a particularly easy feature to develop for login?

There are two types of challenges here. On the one hand, as I mentioned earlier, the new user login is essentially to help users create an on-chain identity system, and essentially to solve the problem of private key generation, deployment and management. The challenge is how to make it easy to use, senseless and even retrievable for users, as if they are using a centralised hosted on-chain interaction, but in reality it is an entirely user-owned, non-hosted on-chain system. The first challenge is to ensure the absolute autonomy of the user’s assets, which requires the developers and us as service providers to have no access to the private key throughout the business process. The second challenge is chain-independent, and integrating a large number of login methods and ensuring the stability of the service upstream and downstream is a high challenge for most teams.

So what kind of technology solution do you have and what are the advantages over other types of technology?

We use a multi-party computing (MPC) model where the private key is available and invisible throughout the business process, so there is no security issue of private key exposure, and the user-side computing credentials can be backed up locally to help users retrieve their computing credentials in an unmanaged manner. The rest of the common approaches are cloud-based encrypted storage and private key segmentation + redundant backup logic. The problem with the first is that the service provider has access to the full user private key, and the problem with the second is that the developer has access to the full user private key.

How does a developer integrate the Authentication service?

We have multi-platform SDKs for Android, iOS, Unity and Web native, which can meet the needs of different products. Our development documentation is also highly readable, so developers can easily complete the integration and should be able to implement the full Auth function within half a day.

Another impression we have is that Particle Network has a wide range of products, from authentication components to Wallet-as-a-Service APIs and even enhanced Node services.
Our goal is clear: to provide a single on-chain development workflow, with all resource interactions, functional development, and operations and maintenance addressed by our All-in-One solution. We want the developer to do what he is good at, to optimise the product experience, to do the user operation system, and not to spend time on understanding the technical features of different chains and how to develop them. But we don’t have any bundled restrictions on developers, all our features are combinable and we leave highly customisable interfaces for developers to integrate with the rest of the development services.

Interview: How Particle Network, the Web3 development platform, is a composable crypto world infrastructure

Wallet-as-a-Service and NFT related features, I understand that both help developers to build applications internally with on-chain assets related features?

Yes, we provide a full Wallet-as-a-Service service to help developers build unmanaged on-chain wallet products for any scenario (including full-featured wallets within games), you can understand that developers can easily create their own Metamask products, for example, some developers focus on Indian dialect wallets, they don’t need to build their own wallet system from scratch, they can do more on the UX side of design and development. For NFT, we provide the most comprehensive one-stop solution in the market, from NFT asset generation, to chain, management and deployment. Developers can quickly build a complete set of Launchpad and NFT secondary market for different scenarios.

So why would a developer need to build a fully functional on-chain wallet within the game itself, wouldn’t it be possible for users to log in with Metamask?

There are several obvious problems with logging in with a three-party wallet.

  1.  Each time a user signs in, they have to keep jumping out of the app to go to the triple wallet to respond to the signature, which is a very poor experience for the end user
  2. The token swap function within the product cannot be resolved
  3. It is not possible for users to purchase cryptocurrencies in fiat currency directly within the product.

The other thing is that if the developer wants to design some risk control rules around their business logic, it is not possible to do so with a three-party wallet.

So why exactly do developers need to use your products?

There are three main reasons.

  1. Reduced development time: over 90% of development time is saved
  2. Security of interaction with the chain: developers no longer need to worry about the security of the functions developed in relation to the chain
  3. Reliability of business: no need to do your own server operation and maintenance, we ensure business reliability SLA

How do you plan to commercialise?

At the moment it is mainly a subscription fee linked to the size of the customer’s end user, which is charged according to the MAU of the Web3 product. For a new application we are free of charge, and also free of charge for the phase when the MAU is relatively small after the launch.

Does the team have a clearer plan in six months or a year?

On the product side, we are mainly concerned about the reliability of the product, including the perfection of the functions, and the support for different technology stacks and different ends of each public chain. We are also expanding some customers based on different Web3 product scenarios, so the overall product is divided into two parts, one is the normal advancement of our existing products, and the second is that we interviewed some customer demand scenarios that we did not anticipate before, and we need to precipitate it down to see if we can encapsulate it into some more general products. For example, some financial customers internal capital flow-related scenarios, in fact, using our technical solutions to do is a very good fit, because the customer with the traditional multi-signature wallet solution, it is still very difficult to use, whether it is cross-chain or some processing fees.

In terms of customers, we will continue to precipitate terminal application scenarios around our benchmark customers, which is our core work. We have about six or seven types of customer groups (scenarios), such scenarios can be understood as what we often call the track, e-commerce track/social track and so on, each type we have a relatively clear benchmark customers. We hope to be able to help developers Tokenize Anything in the future.

What is your Token strategy like and do you have any plans to make your own L2 solution or a separate chain in the future?

We still need to gather more quality information to determine our Token issuance strategy and Tokenomics, and overall we will design around governance, payments, and our own native token logic for decentralised services. As for the more fundamental product strategy of issuing our own chain and running some of our services like Auth or NFT services on a separate chain, we are still considering the idea of following the needs of developers and whether there is a real need for more decentralised technology stack. It doesn’t make much sense to make a public chain just for the sake of making one.

We reported a while ago on a company called Moralis, which is similar to you in terms of positioning and must have raised over $50 million in cumulative funding, do you have a competitive strategy?

Moralis is a company we’ve been studying for a long time and does a great job in terms of user education and content output, and we will learn from that. We also have some unique features, mainly in a few areas.

  1. we cover a little more fully in some of the pain point features, such as Wallet-as-a-Service, where we can help developers build wallet products or features faster.
  2. In some of the core functions we cover, such as Authentication, we have a different strategy to Moralis, in that if it is important enough and not solved well enough, we want to build a better solution from scratch ourselves, whereas Moralis is focused on integrating existing solutions that are already available in the market.

The other point is that in terms of customer coverage, Asian developers are very active and have a strong ability to produce products, and we will try to build our Asian customers into our base with better empathy.

In the long run we will continue to maintain our strength as developers, by developers.

Well, thank you very much for joining us for this interview!

Summary

Interview: How Particle Network, the Web3 development platform, is a composable crypto world infrastructure

Particle Network wants to help technology developers transition seamlessly from Web2 to Web3 through a single on-chain development workflow, providing a holistic solution for developers facing challenges when building decentralised blockchain applications. Blockchain is increasingly being used in a wide range of applications, with more and more users participating in crypto tracks, using various blockchain applications to buy and sell assets, play games, store data and more, all of which must run securely, resiliently and efficiently on the chain. With Particle Network, developers can more easily build applications on the blockchain and it is hoped that Particle Network will follow the growth of the Web3 industry as one of the most important building blocks of the crypto ecosystem. For more information, please visit Particle Network’s official website: https://particle.network

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/interview-how-particle-network-the-web3-development-platform-is-a-composable-crypto-world-infrastructure/
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