The Rising and Innovation of Push Protocol: A New Player in Web3 Communication

In a decentralized network, effective node interoperability is crucial. Without this interoperability, the network will become an isolated information island. This is especially true in the social domain, where only through secure and smooth information transmission can social assets and financial attributes emerge.

The user scale and message volume of traditional social media giants demonstrate the immense influence of social communication. However, current Web3 social communication still primarily relies on traditional tools. There are few protocols that support internal communication within DApps and perform well, and there is even less cross-protocol and cross-chain social communication capability.

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 to address notification needs. This is mainly because most DApps still exist in the form of PC web pages, and the slow development of mobile platforms has restricted the widespread application of message push.

Message pushing in the infrastructure layer of Web3 is indeed a weak link in development, with few mature solutions available. Against this background, the Push Protocol has emerged as a decentralized communication protocol specifically designed for Web3. It enables smart contracts, DApps, and even traditional services to send notifications to wallet addresses, suitable for various scenarios such as DeFi asset liquidation, domain expiration reminders, and media news pushes.

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 wallet addresses in a decentralized manner. Its core objective is to address the communication gap in Web3 applications, enhance user experience, and promote the widespread adoption of a decentralized web.

As of April 2024, Push Protocol has sent over 6 million notifications, reaching a total of 74 million since its launch, making it a leading project in the decentralized communication field. Its core advantage lies in the ability to allow any dApp, smart contract, or backend service to directly interact and communicate with user wallet addresses.

PUSH serves as the governance token of the protocol, used to protect the network, reward nodes, promote the practicality of the protocol, and the operation of the DAO. Currently, the circulation rate of PUSH is 60%, with a circulating market value of approximately 12.6 million USD.

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 projects, providing 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 dollars and a valuation of 130 million dollars. The investors include several well-known institutions and individuals.

Since its launch on the Ethereum mainnet in early 2022, the project has undergone several important technological and strategic evolutions. In September 2022, it was officially renamed Push Protocol and expanded to support multi-chain communication. In 2023, it was selected as a Snap integration project for MetaMask, further enhancing its influence.

Core Technologies and Application Scenarios

Push Protocol verifies and indexes communication content in an open, gasless, multi-chain, and platform-independent manner, ensuring the decentralization, immutability, and traceability of messages. Its IPFS-based storage and sharing mechanism provides users with secure, private, and efficient communication solutions.

Main application scenarios include:

1. DeFi Protocol Notification: Sending transaction-related information.
2. DAO Governance and Voting: Provide end-to-end governance participation reminders.
3. GameFi User Incentives: Support for NFT airdrops, rewards, and upgrade progress notifications.
4. Data Analysis Protocol Notification: Providing timely user notification services.
5. Web2 Message Notification Service Replacement: Achieving Real-Time Notification Needs.

Message Push Architecture

The Push Protocol constructs its message push architecture based on three core concepts: users, channels, and subscribers.

1. User: Includes communication entities such as contracts, wallets, individuals, etc., and can choose to join or leave the channel.
2. Channel: A logical container for message sending, divided into two types: public and private.
3. Subscriber: A user who has subscribed to the channel and can receive different types of messages.

Core Advantages

1. Decentralization and immutability: Adopting a subscription model to ensure information security and reliability.
2. Multi-chain compatibility: Supports messaging services across multiple chains.
3. Open network access: Any cryptocurrency wallet can interact with the push node without the need to pay Gas fees.
4. Rich integration cases: Integrated with over 400 projects, including well-known DeFi protocols and NFT marketplaces.
5. Strong technical support and development roadmap: Continuously advancing technology development and product optimization, future versions will support non-EVM chains.

Push Protocol, as a newcomer in the Web3 communication field, is making significant contributions to the development of decentralized networks through its innovative technology and wide range of application scenarios. With more project integrations and continuous evolution of technology, Push Protocol is expected to play an even more critical role in the Web3 communication infrastructure.