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The success highlighted by this achievement reinforces the popularity of WaaS.
Web3 infrastructure provider Particle Network has said that its rollout of Wallet-as-a-Service (WaaS) V2 is proving to be a huge success. According to a recent press release, the company has seen over 15 million wallet activations within a year since launching the service.
The success highlighted by the achievement reinforces the popularity of WaaS, but more importantly, it is also evidence of the growing demand for more user-friendly Web3 onboarding solutions.
Explaining how the record user number came about, the firm explained in a blog post It got a lot of support from many decentralized applications (DApps). Particle claims that so far more than 800 dApps have partnered with it and integrated its WaaS. So, it would make sense how, by using Particle’s product suite, these DApps automatically expose the Particle network to millions of Web3 users interested in using the firm’s Web3 wallet.
It may also be worth noting that a significant percentage of the blockchain ecosystem also uses the firm’s Web3 wallet. Some of its partnerships in this regard include popular networks like BNB Chain, Linea, Near, Sei, and zkSync. Interestingly, the BNB chain has the most active projects that have integrated WaaS (about 70%).
Particle Network eyes all-round improvements for its WaaS V2
It appears that Particle Network is ready to get back to work on WaaS V2. To this end, it also announced its intention to develop products by focusing on three areas. The company says it will now improve V2’s privacy, its user experience as well as its transaction efficiency.
particle network raised $1.5 million in pre-seed funding round in May 2022. Since then, its efforts have been in line with what it aims to do with WaaS. As stated on its website, the core objective of Wallet-as-a-Service is to simplify user interactions with the blockchain and increase efficiency.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his writing style. He strongly believes in the potential of digital assets and takes every opportunity to reiterate it. He is also a reader, a researcher, an astute speaker and a budding entrepreneur. However, away from crypto, Mayowa’s imaginary distractions include discussing football or world politics.
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