Web3 Communication Protocol Push Protocol: Pioneer of Decentralization Push Services

In the Web3 ecosystem, effective communication mechanisms are crucial. Without smooth node interconnection, the entire network will devolve into isolated information islands. Especially in the social domain, only through secure and reliable information transmission can social assets and financial attributes be derived.

The user scale and daily usage frequency of traditional social giants demonstrate the tremendous influence of social communication. However, current Web3 social communication still predominantly relies on traditional tools, such as Twitter and Telegram. There are very few protocols that support internal communication within DApps and perform excellently, and there is even less capability for cross-protocol and cross-chain social communication.

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 rely on traditional methods like email to address notification needs. This is mainly because most DApps currently exist in the form of PC web pages, and the development on mobile is slow, which limits the widespread application of message push scenarios.

Against this backdrop, a decentralized communication protocol designed specifically for Web3, Push Protocol, has emerged. This protocol enables smart contracts, DApps, and even traditional services to send notifications to wallet addresses, applicable in various scenarios such as DeFi asset liquidation, domain expiration reminders, and media news pushing.

Push Protocol Overview

Push Protocol is a Web3-based communication protocol that enables various forms of communication such as notifications, chats, and videos to wallet addresses through a Decentralization approach. Its core goal is to address the communication gap in Web3 applications, enhance user experience, and promote the large-scale adoption of a decentralized web.

As of April 2024, the 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 communications.

The main advantage of the Push Protocol lies in allowing 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 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 secure the network, reward nodes, promote the protocol's usability, 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

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 extensive strategic support and industry insights for the project.

Since its establishment in 2020, Push Protocol has completed multiple rounds of financing, with a total funding amount reaching $11 million and a valuation of up to $130 million. Investors include several well-known institutions and individual investors.

In early 2022, Push Protocol was launched on the Ethereum mainnet, followed by several significant technical and strategic evolutions. After its official rebranding in September 2022, the project expanded to support multi-chain communication. 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 verifies and indexes communication content through an open, gasless, multi-chain, and platform-independent approach, 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: Sending transaction-related information
2. DAO Governance and Voting: Remind users to participate in DAO governance.
3. GameFi user incentives: support for NFT airdrops, rewards, and upgrade progress notifications.
4. Data Analysis Protocol Notification: Provide timely user notification.
5. Alternative to Web2 Messaging Notification Services: Achieving Real-Time Notification Needs

Message Push Architecture

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

• Users: including communication entities such as contracts, wallets, individuals, etc.
• Channel: A logical container for message sending, divided into two types: public and private.
• Subscribers: Users who have subscribed to the channel and can receive different types of messages.

Other Core Advantages

1. Decentralization and immutability: Using a subscription model, messages are put on-chain to ensure data security.
2. Multi-chain compatibility: Supports messaging services across multiple chains.
3. Open network access: Push nodes can interact with various cryptocurrency wallets.
4. Rich integration cases: integrated with over 400 projects.
5. Strong technical support and development roadmap: The future V3 version will support non-EVM chains.

Push Protocol, as a pioneer in the Web3 communication field, is building key communication infrastructure for decentralized ecosystems. With its continuous technological development and the expansion of application scenarios, Push Protocol is expected to play an important role in promoting the large-scale adoption of Web3.