Web3 Communication Protocol Push Protocol: Pioneer of Decentralization Push Services

In the Web3 ecosystem, effective communication mechanisms are crucial. Without efficient node interconnection, the network becomes an isolated information island. This is especially important in the social domain, where only through secure and smooth information transfer can social assets and financial attributes emerge.

The user scale and daily usage of traditional social giants demonstrate the tremendous influence of social communication. However, current Web3 social communication still largely relies on traditional tools such as Twitter and Telegram. There are few protocols that support internal communication for DApps and perform well, and the cross-protocol and cross-chain social communication capabilities are also insufficient.

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

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

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 6 million notifications, totaling 74 million since its launch, making it a leading project in the field of Decentralization communication.

The main advantage of the Push Protocol is that it allows any dApp, smart contract, or backend service to interact and communicate directly with the user's wallet address. This includes multiple application scenarios such as DeFi protocols sending transaction-related information, DAO organizations conducting governance and voting, GameFi platforms providing user incentives, and data analysis protocols achieving real-time user notifications.

PUSH, as the governance token of the Push Protocol, is used to protect the network, reward nodes, promote the protocol's utility, and facilitate the operation of Push DAO. Currently, the circulation rate of PUSH has reached 60%, with a circulating market value of approximately 12.6 million USD.

Team Background and Development History

The Push Protocol is led by an experienced team, including founder Harsh Rajat and co-founder Richa Joshi. The advisory team brings together industry experts to provide strategic support and industry insights for the project.

Since its establishment in 2020, Push Protocol has completed multiple rounds of financing, with a total financing amount of $11 million and a valuation of up to $130 million. Investors include well-known institutions such as Binance Labs, Jump Crypto, and ParaFi.

In terms of technological development, Push Protocol has undergone several significant upgrades since its launch on the Ethereum mainnet in early 2022. The project expanded to support multi-chain communication, achieving seamless expansion from Ethereum to other Layer 1 and Layer 2 networks. In 2023, Push Protocol was selected by MetaMask as a Snap integration project, 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 messaging mechanism based on IPFS storage and sharing provides users with a secure, private, and efficient communication solution.

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 Decentralization Autonomous Organizations.
3. GameFi user incentives: Support for NFT airdrops, rewards, and upgrade progress notifications.
4. Data Analysis Protocol Notification: Provides timely user notifications, such as tracking the NFT trading volume on specific trading platforms.
5. Alternative to Web2 messaging notification service: Real-time notifications for legal agreement signing, exchange events, and other instant notifications.

Message Push Architecture

The message push service of Push Protocol is based on three core concepts: users, channels, and subscribers.

• User: Includes communication entities such as contracts, wallets, individuals, etc., who can choose to join or leave the channel.
• Channel: A logical container for message sending, including public channels and private channels.
• Subscriber: A user who has subscribed to the channel can receive messages posted within the channel and participate in interactions.

Core Advantages

1. Decentralization and immutability: Adopting a subscription model to put messages on the 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: The push nodes are part of an open network, and any cryptocurrency wallet can interact with them without Gas fees.
4. Rich integration cases: Integrated with over 400 projects, including well-known DeFi protocols and social platforms.
5. Powerful technical support and development roadmap: Continuously promote technological development and product optimization, the future V3 version will support non-EVM chains.

Push Protocol, as a pioneer in the Web3 communication field, is providing critical infrastructure support for decentralized ecosystems. With the continuous advancement of its technology and the expansion of its application scope, Push Protocol is expected to play an important role in promoting the large-scale adoption of Web3.