[PRESS RELEASE – Tel Aviv, Israel, December 18th, 2023]
In a groundbreaking collaboration, Fuse Network, a number one Layer-1 blockchain participant specializing in scaling Web3 funds, has teamed up with Polygon Labs, a globally acclaimed blockchain know-how agency. Fuse embarks on an formidable journey to create an modern Ethereum-based Zero Information (ZK) Layer-2 (L2) community, using the formidable capabilities of the Polygon Chain Growth Equipment (CDK).
The ZK-powered Layer-2 community will turn out to be Fuse’s new native platform, offering customers and builders entry to the world’s most outstanding blockchain ecosystems. Fuse’s native utility token, FUSE, would be the designated token for overlaying fuel charges on this community.
Pushed by its scalability enhancements for Ethereum, unparalleled customization capabilities, privateness choices, compliance-friendly structure, and sturdy assist for the Web3 ecosystem, Polygon CDK is the best selection for Fuse, poised to turn out to be a major catalyst for companies embracing blockchain.
Mark Smargon, CEO of Fuse Network, underscores the importance of this initiative, stating, “At Fuse, we’re pioneering the way forward for Web3 funds by constructing an ecosystem that prioritizes the wants of our customers and companions. Our imaginative and prescient consists of very low transaction prices, instantaneous clearing and finality, excessive throughput, and a decentralized validator set. In our quest to obtain these targets, we’ve performed in depth analysis and located that utilizing Polygon CDK completely suits our ecosystem.”
Migration Course of to Polygon CDK:
- Step 1: Deployment of the ZK rollup on Fuse’s current L1, permitting testing of the brand new stack with a mock prover to assess prices and efficiency.
- Step 2: Integration of L1 <> L2 communication into Fuse’s merchandise, guaranteeing seamless integration and motion between L1 and L2, together with Fuse tokenomics integration into the rollup. This step will even embody constructing separate pricing for providers on L2 as a bundle and bridging and liquidity integration throughout the Polygon ecosystem.
- Step 3: Migration of the community to ZK Validium with a selected associate (Zeeve, Gateway, Avail, and many others.), migration of the validator set to the brand new stack, and collaboration with main stakeholders to check the brand new community on a testnet. Subsequently, a fast migration possibility for liquidity and bridges was developed.
Trying forward, with options like zkEVM to increase community TPS, enhanced consumer experiences via ZK instantaneous transfers, a decentralized validator set for heightened safety, improved bridging capabilities, and invaluable partnerships with ecosystem gamers like Zeave and Gateway.
Privateness is vital in as we speak’s digital panorama, and it’s no completely different for companies working on Fuse. With this migration to Polygon CDK, Fuse is about to improve its choices, making it the ultimate Web3 payment solution for companies.
About Polygon CDK:
Polygon Chain Growth Equipment (CDK) catalyzes blockchain innovation, empowering builders to create customized Ethereum Layer-2 (L2) options. It ensures instantaneous transaction finality, limitless scalability, and unified liquidity swimming pools. Polygon CDK is on the forefront of blockchain adoption, providing Zero-Information (ZK) know-how, privateness choices resembling Zero-Information Proofs (ZKP), and sturdy assist for the Web3 ecosystem.
Most importantly, Polygon CDK empowers companies to embrace blockchain and crypto funds for Fuse Network. A main instance is Wirex, a worldwide crypto funds chief with 6 million customers, which harnesses Polygon CDK for its App Chain (W-Pay).
With this improvement, Fuse Network goals to revolutionize Web3 funds, providing scalability, customization, privateness, and sturdy Web3 assist. Furthermore, this guarantees to convey low transaction prices, instantaneous finality, excessive throughput, and decentralized safety to blockchain funds.
For media inquiries, please contact ian@fuse.io.
About Fuse Network:
Fuse Network is a number one Layer-1 blockchain platform devoted to scaling Web3 funds. With a dedication to user-centric options, Fuse Network is on the forefront of revolutionizing blockchain-based funds.
About Polygon Labs:
Polygon Labs is a globally famend blockchain know-how firm with experience in empowering blockchain innovation. The corporate offers cutting-edge options to advance the adoption of blockchain know-how.
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