Quick take:
- Particle Network has launched its EVM-compatible account abstraction protocol for Bitcoin.
- The company also announced its partner network for BTC connect, which includes Unisat, Bitmap and MAP protocol among others.
- BTC Connect uses ERC-4337 design and L2 EVM-compatible chains to introduce a Smart Account, Paymaster, and Bundler for the Bitcoin network.
Particle Network, the Wallet-as-a-Service (WaaS) infrastructure provider has launched BTC Connect, an EVM-compatible account abstraction protocol for the Bitcoin network. The protocol leverages ERC-4337 design and L2 EVM-compatible chains to introduce a Smart Account, Paymaster, Bundler and a Bitcoin-specific Modal to the Ordinals ecosystem. This enables Bitcoin Network developers to offer their users gasless trades and account programmability.
BTC Connect expands Particle Network’s WaaS tech stack, which taps into MPC-TSS (Multiparty Computation – Threshold Signature Scheme) and social logins to enable self-custodial, dApp-embedded wallets that can be accessed through users’ Web2 accounts.
According to the announcement, Particle Network will debut BTC Connect with six partners including the open-source browser extension wallet for Bitcoin NFTs and Ordinals, Unisat and the Bitcoin Network-based metaverse platform Bitmap.
The ordinals protocol BRC420, which enables composable modules through inscription and tokenisation on Bitcoin is also part of the inaugural partners as well as, the peer-to-peer cross-chain interoperability protocol, MAP Protocol.
Others include Bevm, the decentralised EVM-compatible layer-2 that uses Bitcoin for gas fees, the B2 network, which speeds up transactions on the network, and ZkFair, the zero-knowledge rollup community on Polygon CDK and Celestia DA.
Commenting on the launch, Pengyu Wang, CEO of Particle Network said: “We’re excited to be the pioneering Account Abstraction protocol for the Bitcoin ecosystem through BTC Connect and to play a larger role in improving the ecosystem’s infrastructure. BTC Connect marks a development in making the Bitcoin ecosystem more accessible, and we’re excited to bring forth more innovation to this ecosystem alongside our partners”.
BTC Connect launches at the back of a significant surge in activity on the Bitcoin Network.
Over the past 30 days, the Bitcoin network dominated the NFT industry in sales with over $810 million, according to CryptoSlam data. Ethereum and Solana follow a distance second and third respectively with $373 million and $317 million, while the rest are far behind.
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