By simplifying the typically complex blockchain onboarding process , users can now engage with Elastos dApps without the need for crypto wallets, seed phrase management, or paying gas fees. For example, a user can log in with a Bitcoin wallet to take out a stablecoin loan using collateralized Bitcoin via Elastos’ BeL2. This funding can be used right away on the Elacity marketplace without needing ELA for gas, as those fees are covered automatically in the background. This makes the process more convenient while retaining the benefits of decentralization, including control over personal data, direct peer-to-peer interactions, and strong security and integrity.
The ability to hide complexity from users is a strategic driver for Elastos. By working with Particle Network, Elastos is able to simplify the process for users to interact with decentralized applications and BTC-backed services. This complements the work it has been doing with the BeL2 protocol to keep Bitcoin secure on its main network using zero-knowledge proofs to verify transactions and transfer collateral information across chains.
Pengyu Wang, Particle Network’s Founder, describes Particle Network’s effort toward simplifying the Web3 user experience as a major milestone in making Web3 experiences a part of everyday life.
Elastos is a public blockchain project that integrates blockchain technology with a suite of reimagined platform components to produce a modern Internet infrastructure that provides intrinsic protection for privacy and digital asset ownership. The mission is to build accessible, open-source services for the world, so developers can build an internet where individuals own and control their data.
The Elastos SmartWeb platform enables organizations to recalibrate how the Internet works for them to better control their own data.
https://www.linkedin.com/company/elastosinfo/
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.
For more information, users can go to: https://particle.network/
ContactPR LeadRoger DarashahElastosroger.darashah@elastoselavation.org
This article was originally published on Chainwire
Source: Cryptocurrency - investing.com
