PANews reported on December 12 that according to The Block, the Web3 communication protocol Push Protocol is developing a Layer 1 blockchain called Push Chain, which focuses on chain abstraction technology and supports cross-network Web3 application development. Push Chain aims to solve the problems of fragmented user experience and scalability, and plans to launch the test network in phases in mid-January 2025 and the main network at the end of the year. The blockchain will have functions such as wallet and gas fee abstraction, sharding technology, and sub-second transaction finality. At the same time, it will serve as a universal settlement layer for each Layer 1 and Layer 2 chain, supporting "universal smart contract" cross-chain operations.
Previously, Push received US$10.1 million in Series A financing led by Jump Crypto , and completed a seed round of financing supported by former Coinbase CTO Balaji Srinivasan and others in 2020.
