What is Push Protocol? Push Protocol is the world’s first decentralized communication and notification protocol for Web3. This is an open network for authenticating and establishing all types of communication that can then be integrated by any electronic user interface. So what purpose was Push Protocol created for? What makes it stand out? Let’s find out with the Weakhand team below in this article!
To understand more about Push Protocol, you can read the following articles:
- What is Web3? Advantages & Disadvantages of Web3
- Crypto Panorama 101 | Episode 1: Introduction to Blockchain and Crypto
- Crypto Panorama 101 | Episode 3: What is Ethereum?
What is Push Protocol?
Push Protocol is the world’s first blockchain-based decentralized communication protocol for Web3 built and developed on Ethereum. As an open communication middleware, notifications can be integrated and displayed on any cryptocurrency wallet, mobile app, browser extension or dApp that enables the communication layer native for Web3.0.
Using the protocol, any Smart Contract, dApp or backend service can send on-chain or off-chain notifications associated with the user’s wallet address with no gas fees, multi-chain and no dependencies. into the platform.
Mechanism of action
Features available on Push Protocol:
Push Notifications
Enable any smart contract, dApp, backend to provide important information in the form of notifications to Web3 users directly to their wallet address.
According to the current design of the protocol, there are three possible elements that can send notifications:
- Channel owner:
The owner of a particular channel can send notifications to their subscribers. - Authorization notification sender: CChannel owners can allow any specific wallet address to send notifications on behalf of their channel.
- Notice to users themselves:
Push Communicator allows any address to send notifications to themselves. However, it’s important to note that the address only sends notifications to themselves.
Different types of notifications users can send to their channel subscribers on the protocol:
- Broadcast announcement:
This type of notification is basically broadcast or sent to all the subscribers of a channel at the same time. - Targeted notifications: LThis type of notification allows the channel owner to announce a specific wallet address.
- Subset notifications:
Subset notifications are quite useful when a specific group of channel subscribers need to be notified.
Push Chat (wallet-to-wallet chat)
Enables 2-way communication for web3 users from their wallet address, providing a secure and privacy-focused alternative to traditional messaging apps.
All messages are stored on IPFS in an encrypted way. So only wallets that are part of the conversation can decrypt the message.
When sending a message to an address, it is sent through Push nodes. Push nodes are a network of nodes, where nodes can have a different role in the network responsible for authenticating each notification and chat message between addresses.
Preventing spam has always been a top priority goal for the protocol. There are countless examples of users spamming others with fake gifts, random messages, or unwanted notifications.
Push Chat has 2 types of message groups: Inbox and Request. When you want to send a message to someone, that address must send an intent request. The first message will not be delivered to the inbox but instead to its request box.
When a user sees this message in the Request box, the user has 2 options:
- It may accept and start texting back the address.
- It can be ignored and blocked.
Highlights of Push Protocol
Is a leading project in the Web3 segment, bringing users the first application of a decentralized protocol to help users receive notifications on applications and protocols on Blockchain. Push Protocol was born to send notifications to users about what everyone needs to know about the Crypto market.
The uses that Push Protocol brings are:
- Warn users if liquidation is in progress.
- Monitor wallet activity.
- Notify and update new information on the market.
- Users can chat with each other via wallet address.
Development Roadmap
Update, ..
Core Team
Harsh Rajat – Founder
- Harsh Rajat studied at Mumbai University for 3 years from 2003 – 2006, majoring in information technology. Harsh Rajat then continued his studies at Mumbai Educational Trust, MET League of Colleges majoring in Computer Science in 2006 -2009.
- Harsh Rajat spent nearly a year as an intern at two companies, Johnson & Johnson and Oracle Financial Services Software LLC.
- Harsh Rajat was Founder – CEO of Digital Poke from 2009 – 2016.
- Harsh Rajat continued to be Founder & CEO of 3 Magic Shot for a period of 6 years from November 2009 to August 2018.
- By January 2020, Harsh Rajat and his colleagues founded Push Protocol.
Richa Joshi – Co Founder
- Richa Joshi once studied at KJ Somaiya Institute of Technology.
- Richa Joshi worked for 4 years at Wipro Company Limited from 2009 – 2012 as a Senior Software Engineer, then became a consultant here.
- Richa Joshi spent more than 5 years working as a senior consultant at Deloitte Consulting from 2013 – 2018.
- By 2018, Richa Joshi had nearly 1 year working at Hydro Labs holding the position of Production Director.
- From 2018 to present, Richa Joshi has worked as an independent consultant at 3 Magic Shots.
- From January 2022 to present, Richa Joshi and his colleagues founded Push Protocol.
Investors
The project successfully called for $12.2M after 3 rounds of capital from 53 investors.
- December 8, 2020: The project successfully called for $1.4M from 29 investors in the Seed Round, led by The Lao, Moonwhale Venture.
- March 29, 2021: The project successfully called for $660K from 10 investors in the Seed Round, led by Binance Labs.
- April 12, 2022: The project successfully called for $10.1M from 14 investors in the SeriesA round, led by Jump Crypto.
Tokenomics
Overview information about Token Push Protocol
- Token name: Token Push
- Ticker: PUSH
- Blockchain: Ethereum
- Token classification: ERC – 20
- Contract: 0xf418588522d5dd018b425e472991e52ebbeeeeee
- Total supply: 100,000,000
Token Allocation
- Community: 53%
- Investors: 20.5%
- Team: 16%
- Foundation: 7%
- Advisors: 3.5%
Token Release
The token payout schedule will be as follows:
- For Investor group: 20% of tokens will be locked in the first 3 months and paid equally over the next 21 months.
Token Use Case
Currently PUSH tokens are used for the following purposes:
- Used for project management.
- Used as a liquidity reward.
- Reward users for subscribing to channels.
Project Information Channel
Summary
Above is the information about the Push Protocol project that the Weakhand team learned. The project is at the forefront of the Web3 segment, bringing new experiences to users. The project brings a chat and notification application similar to traditional applications such as Face Book, Intagram, .. but developed on blockchain technology. Can Web3 become the next trend? We need to follow up further.