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What is Push Protocol (PUSH) Crypto?
Formerly called Ethereum Push Notification Service or EPNS, Push Protocol is a decentralized protocol for managing blockchain-based notifications in an incentivized, blockchain-agnostic, and platform-independent manner. PUSH is the native cryptocurrency of the Push Protocol decentralized application (dApp).
Push Protocol functions as a middleware across Web3 services, dApps, and smart contracts to ensure that users never miss any notification that requires any action from their end. In this manner, it provides superior user experience and engagement for Web3 activity.
The Push Protocol dApp works by letting decentralized services select what notifications they would like to send to their users. In addition, users of the service also have the flexibility to choose which service they would like to receive alerts.
Subscribing to Push Protocol enables users to never miss a notification from the dApps or decentralized services they use on their browsers or computing devices. In addition, Push Protocol also incentivizes its service by distributing rewards generated through staking PUSH tokens among all users.
How Does Push Protocol Work?
The Push Protocol decentralized communication protocol lets users receive alerts about on-chain and off-chain activity on Web3 services, dApps, or smart contracts they engage. The notifications can be connected to their crypto wallets, allowing users a smooth overall experience when interacting with decentralized projects.
Just like push notifications for Web2 technologies, the decentralized notifications offered by Push Protocol are designed to improve engagement with applications and services but are designed exclusively for Web 3.0. Push Protocol differs from conventional Web2 push notifications as it empowers the end user with the freedom to control what notifications they receive and how they benefit them.
The Push Protocol dApp consists of four key aspects:
Service
A service can include dApps, Web 3.0 services, wallets, or users that wish to send out notifications.
Channel
A channel is any service activated on the Push Protocol and enjoys the power to create and distribute notifications.
User
Any end user who interacts with a service and wants notifications from these dApps, smart contracts, or wallets is termed a user within the Push Protocol ecosystem.
Subscriber
A user who elects to receive notifications from existing channels within the Push Protocol system is called a subscriber.
Push Protocol is available as a mobile app, browser extension, or standalone decentralized application (dApp) running on the Ethereum network.
History of Push Protocol and PUSH Coin
Harsh Rajat and Richa Joshi founded the Push Protocol protocol to close the communication gap between Web3 services and end users. The Push Protocol project was formulated in January 2020.
The co-founders started their journey by presenting the concept of Push Protocol to the Ethereum Foundation. The work on the project began with the support of ETH Global, Aave, and the ETH developer community.
Push Protocol was shortlisted among the top 20 projects by Gitcoin Kernel, helping it raise funds in the initial rounds. The Push Protocol project went live in January 2021, allowing Web3 services, smart contracts, and dApps to send notifications to Web3 users crypto wallet addresses.
The team of developers introduced token contract, vesting, and staking functionalities along with NFTs for early adopters and the Push Protocol community in February 2021. ChainSafe audited Push Protocol contracts in April 2021, offering more safety to the project.
In April 2021, Push Protocol also started collaborating with several strategic partners across key areas of the industry. The V1 of the Push Protocol went live in April 2021.
Since then, Push Protocol has partnered or collaborated with numerous established brands, including Maker, Aave, Uniswap, ENS, dYdX, Polygon, Gitcoin, Decentraland, and more. The projects advisors include Nischal Shetty, CEO and Founder of WazirX, Sandeep Nailwal, Co-founder at Polygon, DeFi Dad, and Vivek Singh, Co-founder at Gitcoin.
The project rebranded itself from Ethereum Push Notification Service (EPNS) to Push Protocol on 27 September 2022. The rebranding effort is part of the teams strategy to expand operations beyond Ethereum to other blockchains and beyond push notifications to all forms of communication in the world of Web3.
Answers
What is the Push Protocol (PUSH) Price Prediction?
The Push Protocol's native token, PUSH, has the potential to be an exciting crypto asset for investment, especially for portfolio diversification. As a Web3 protocol, its growth potential is strong, particularly as the Web 3.0 revolution gains momentum. The price of PUSH against USD could experience an uptrend due to increasing protocol adoption among Web3 users and services. Additionally, a rise in Web3 adoption by end users would contribute to higher demand for services like Push Protocol, as consumers seek better management of their dApp interactions. Furthermore, the bullish sentiment in the overall crypto market could also support the PUSH price, as increased investor confidence encourages more buyers to enter the market, driving up the live price of PUSH and other cryptocurrencies.
What is PUSH Token Used For?
PUSH is an ERC-20 token built on the Ethereum blockchain and serves as the utility token of the Push Protocol. Here are some use cases for the PUSH token:
Incentive Token
PUSH incentivizes the adoption of the Push Protocol, with users receiving rewards in PUSH tokens for utilizing the Push Protocol service and receiving notifications.
Utility Token
Push Protocol users require PUSH tokens to manage various core functionalities of the decentralized protocol. PUSH holders can vote on multiple features of the system, such as changing fee parameters within the protocol.
Crypto Asset to Trade and HODL
PUSH is an attractive digital asset for investment within the crypto market. It can be bought or sold against other cryptocurrencies or held long-term based on belief in the project's future potential. Before placing a new trade, check the current price of Push Protocol, PUSH's fully diluted market cap, current circulating supply, 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on the Push Protocol price chart.
Earn Passive Income
Investing in PUSH allows you to earn passive income from your cryptocurrencies. PUSH is supported for staking on the Push Protocol staking portal via the official Liquidity Rewards Program or on some DEXs like Uniswap.
What is the Circulating Supply of PUSH Crypto?
The total supply and max supply of PUSH crypto are fixed at 100 million tokens. As of September 2022, the circulating supply of PUSH stands at a little over 27 million. PUSH is used to pay protocol fees within the Push Protocol ecosystem and allows users to earn incentives for engaging with the service. As the project's adoption increases, the circulating supply of the PUSH utility token will also grow in the future.
How to Stake and Earn PUSH Tokens
In April 2021, Push Protocol announced its Liquidity Rewards Program following a successful IDO launch. The liquidity rewards program is planned to run until 15 March 2023, with 5.51 million $PUSH allocated towards it. The program incentivizes PUSH token holders to use the protocol through Push Protocol staking. Here's how you can stake PUSH tokens and participate in earning rewards:
1. Go to the Push Protocol staking portal and connect your digital wallet to the interface.
2. Ensure your wallet is funded by purchasing PUSH crypto on platforms like BYDFi. Withdraw the purchased crypto from your trading account into your wallet to add funds.
3. Stake your $PUSH tokens by entering the desired amount and clicking 'Deposit' after connecting your wallet.
4. Sit back and receive PUSH rewards for your staking. The higher the number of PUSH tokens you stake, the greater your earning potential.
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