A New Paradigm of Web3 Communication Infrastructure: The Rise and Application of Push Protocol

In a decentralized network, effective node communication is crucial. Without communication capabilities, the network will become an isolated information island. The social domain especially requires smooth and secure information exchange, which is the foundation for the derivation of social assets and financial attributes.

The user base and daily message volume of traditional social giants demonstrate the immense influence of communication in modern society. However, current Web3 social communication still mainly relies on traditional tools, such as social media platforms and instant messaging software. There are limited protocols that support internal communication within DApps and perform well, and cross-protocol, cross-chain social communication capabilities are even more scarce.

It is worth noting that although there are many scenarios in Web3 that require notifications, such as DeFi price fluctuation alerts and governance voting result notifications, most applications still use traditional methods to address notification needs. This is mainly because most DApps currently exist in the form of PC web pages, while mobile development is relatively lagging behind, limiting the widespread application of message push scenarios.

In this context, Push Protocol has emerged as a decentralized communication protocol specifically designed for Web3, enabling smart contracts, DApps, and even traditional services to send notifications to wallet addresses. Push Protocol can be widely used in various scenarios such as DeFi asset liquidation reminders, domain expiration notifications, and news push.

Overview of Push Protocol

Push Protocol is a Web3-based communication protocol that enables various forms of communication such as notifications, chat, and video to be sent to wallet addresses in a decentralized manner. Its core objective is to address the communication gap in Web3 applications, enhance user experience, and promote the large-scale adoption of decentralized web.

As of April 2024, Push Protocol has sent out over 74 million notifications, becoming a leading project in the decentralized communication field. Its core advantage lies in allowing any dApp, smart contract, or backend service to interact and communicate directly with users' wallet addresses.

PUSH, as the governance token of the Push Protocol, is used to secure the network, reward nodes, promote the utility of the protocol, and participate in governance. Currently, the circulation rate of PUSH has reached 60%, with a circulating market value of approximately $12.6 million.

Team Background and Development History

Push Protocol is led by Indian founder Harsh Rajat, along with co-founder Richa Joshi and a team of experienced professionals. The advisory team includes founders from several well-known exchanges and blockchain projects, providing extensive strategic support for the project.

Since its establishment in 2020, Push Protocol has completed multiple rounds of financing, raising a total of $11 million, with a valuation of up to $130 million. Investors include several well-known blockchain investment institutions and individuals.

In terms of technological development, Push Protocol has undergone several important upgrades since its launch on the Ethereum mainnet in early 2022. The project has expanded to support multi-chain communication, achieving seamless expansion from Ethereum to other networks. In 2023, Push Protocol was selected as an integrated project by a well-known wallet, further enhancing its influence in the Web3 ecosystem.

Core Technologies and Application Scenarios

Push Protocol adopts an open, gasless, multi-chain, and platform-independent approach to verify and index communication content, ensuring the decentralization, immutability, and traceability of messages. Its message delivery mechanism based on distributed storage provides users with secure, private, and efficient communication solutions.

The main application scenarios include:

1. DeFi Protocol Notification: Send transaction-related information, such as user education, dynamic pool status, etc.
2. DAO Governance and Voting: Provide end-to-end reminders to enhance participation in decentralized autonomous organizations.
3. GameFi User Incentives: Support NFT airdrops, rewards, and upgrade progress notifications to enhance user engagement.
4. Data Analysis Protocol Notification: Provide timely user notifications, such as tracking NFT trading volume, monitoring trading pairs, etc.
5. Web2 Message Notification Service Replacement: Achieve real-time notification needs for legal agreement signing, exchange events, etc.

Message Push Architecture

The Push Protocol's message push architecture consists of three core concepts: users, channels, and subscribers.

Users can be communication entities such as contracts, wallets, or individuals, and can choose to join or leave channels, becoming subscribers through signatures. A channel is a logical container for message sending, divided into public channels and private channels. Sending messages in a channel requires a certain fee to prevent spam messages. Subscribers are users who have subscribed to a channel and can receive messages published within the channel and participate in interactions.

Core Advantages

1. Decentralization and immutability: By adopting a subscription model, the messages are put on-chain to ensure data traceability and integrity.
2. Multi-chain compatibility: Supports messaging services across multiple chains, adapting to the needs of different blockchain ecosystems.
3. Open network access: Any cryptocurrency wallet can interact with the push nodes without paying Gas fees.
4. Rich integration cases: Integrated with over 400 projects, including well-known DeFi protocols, social platforms, and NFT markets.
5. Strong technical support and development roadmap: Future versions will support non-EVM chains, further expanding cross-chain capabilities.

Push Protocol, as a new paradigm for Web3 communication infrastructure, is reshaping the way interactions occur in decentralized networks. With continuous technological advancements and the expansion of the ecosystem, it is expected to become one of the key forces driving the large-scale application of Web3.