Particle 102: WAAS Up? Wallet-as-a-Service, The Paradigm Shift For DApp Development
This article was originally published in Particle’s official blog. For a better reading experience, click on this link.
Introduction
We are currently experiencing an exciting shift from Web 2.0 to Web 3.0, with rapid advancements in the blockchain space. One standout innovation is the Wallet-as-a-Service (WaaS) provided by Particle Network. This article delves into the essence of this solution and its impact on Web3 development.
Why Wallet-as-a-Service is Crucial for Web3 Experience
With the growing number of users adopting Web3 products, traditional browser plugins and third-party wallet redirections can no longer satisfy user expectations. Particle’s WaaS addresses these challenges by offering numerous benefits when integrated into dApps, allowing developers to focus on product logic and bring innovative applications to the Web3 landscape more efficiently and effectively.
Exploring Particle’s Core Offerings
Particle has created an all-inclusive toolkit to simplify development for wallet related features:
- Auth SDK: A smooth login experience for both Web 2.0 and Web 3.0 users.
- Wallet SDK: Customizable UI and SDK methods for effortless wallet interactions and asset management.
- On-and-off Ramp: Integration with multiple global vendors for seamless fiat-to-crypto transactions and automatically route for the best exchange rate.
- Cross-platform: Compatibility across web, iOS, Android, Flutter, Unity, Unreal, React Native and other platforms.
- Chain-agnostic: Supports all EVM compatible and non-EVM chains such as Solana.
Social Login: Bridging the Gap Between Web 2.0 and Web 3.0
One major hurdle faced by newcomers to the world of cryptocurrencies is the steep learning curve associated with managing private keys and wallets. Particle Network’s Wallet-as-a-Service introduces a social login feature that allows users to access dApps using their existing social media accounts, such as Google or Facebook login. By simplifying the onboarding process, Social Login encourages wider adoption of Web 3.0 applications, allowing users to experience the benefits of decentralized technology without the need to create and manage the private key or seed phrase. This seamless integration fosters a user-friendly environment and helps drive the growth and success of Web 3.0 applications, improve conversion rate from 15% to 75% in average.
Prioritising Security: Particle’s Commitment to User Safety
Digital security is paramount, and Particle Network takes this responsibility seriously. Their WaaS solutions offer:
- MPC-TSS technology: An advanced wallet solution that removes the need for traditional private keys.
- Server-side computation and risk management: Enhances security while preserving user privacy.
For more information in terms of the security philosophy of Particle Network, please refer to the previous blog: Particle 101: MPC-TSS & Social Login — Seamless Web3 Onboarding for the Next Billion Users.
Flexibility and Customisation: The Key for User’s Success
A major advantage of Particle’s Wallet-as-a-Service solution is its flexibility and customization capabilities. This allows developers to create unique, tailored experiences for their users, helping their Web 3.0 applications stand out in an increasingly competitive market.
Developers can customize the appearance of various components, such as email and SMS designs, login and verification pages, transaction pages, and more. They can also configure design elements like background and button colors, border styles, logos, text fonts, and choose between light or dark modes.
In addition, Particle’s WaaS enables developers to configure platform functionality according to user needs. They can specify supported tokens for trading, choose chains to include in the app, highlight specific tokens or NFTs, set default currencies for displaying prices, enable WalletConnect, and decide whether to offer multi-language support, among other features.
Easy On-Ramp Services: Making Web3 Accessible for Newcomers
Particle Network recognizes the challenges of onboarding newcomers to Web 3.0. To ease this transition, they have integrated their on-ramp service with seven different vendors across 156 countries, supporting 36 types of fiat currencies. This wide-ranging approach allows users to effortlessly select the best rate for converting mainstream tokens, whether for paying gas or purchasing digital assets.
One standout vendor is Mercury, offering a non-KYC on-ramp for purchases under 700 USD. This level of convenience is unmatched in the Web 3.0 space, making it simpler than ever for newcomers to participate in the decentralized ecosystem without any obstacles.
In-App Token Swaps: Get the Best Rates with Integrated DEXs
Particle Network’s Wallet-as-a-Service solution enhances user experience by integrating multiple decentralized exchanges (DEXs) to provide the best swapping rates for users. By collaborating with leading providers such as 1inch and others, Particle ensures that users can enjoy the latest innovations in the DeFi space without any hassle.
This integration offers several advantages for dApp developers. First, it eliminates the need to redirect users to external platforms for token swaps, maintaining a seamless user experience. Second, developers can avoid creating their own DEX and instead leverage the industry’s best solutions with deepened liquidity, enabling users to enjoy the most competitive rates when swapping crypto.
As a result, users are more likely to engage in token swaps without hesitation, unconsciously boosting the value of in-game assets and improving the overall success of the dApp.
Conclusion
If you’re a developer looking to create a unique and user-friendly Web 3.0 application or a user interested in experiencing the future of decentralized technology, we invite you to try Particle Network’s Wallet-as-a-Service. Discover how Particle’s innovative solutions can revolutionize your Web 3.0 journey and propel your project to new heights.
About Particle Network
Particle Network is a full-stack, data-driven, and composable infrastructure solution for Web3 developers. With its wide range of services, including MPC-based identity authentication, Wallet-as-a-Service, node API services, and NFT services, Particle Network enables seamless development across multiple blockchains and platforms.
