Hassan Maishera
Fuse has announced the the release of the Consensus Contract on the Flash Testnet network and it is now available to its users.
In a press release shared with Cryptowisser, the team said this latest development is a huge milestone in Fuse’s mission to enhance the network's capabilities, stability, and decentralization.
Fuse Launches a zkEVM Layer 2 Network using the Polygon CDK
As a part of this latest development, Fuse revealed that they are transitioning to a ZK-Powered Layer 2 Using Polygon CDK to enhance their network’s scalability, security, and interoperability.
The team is working towards the mainnet launch in the fourth quarter of the year and the launch of a zkEVM L2 network supports new financial models and business use cases in Web3.
Some crucial features of the transition include
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Deployment of a ZK Layer-2 network leveraging Polygon CDK to create an Ethereum-based Zero Knowledge (ZK) network, which will become Fuse’s native network post-launch.
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Increased scalability, customization, privacy, and Web3 support and the adoption of $FUSE as the gas fee token.
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Phased testnet adjustments including ZK rollup deployment, L1 <> L2 integration, and migration to ZK Validium.
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Better user experience with increased transactions per second (TPS) throughput and decentralized validation.
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Strategic partnerships to enable blockchain adoption for businesses.
According to the team, once key infrastructure providers are updated to support the L2 design, developers will be allowed to test their end-user dApps on the updated network without a new fork. Thus, ensuring the preservation of on-chain data and state.
Fuse to Introduce Changes to its Consensus Mechanism
Fuse Network will introduce changes to its consensus mechanisms, which include capping the maximum supply of FUSE tokens, adopting a deflationary token model, and introducing a new maximum stake requirement for validators.
The move is expected to boost $FUSE’s desirability and long-term value for its community members. The team explained that the network requires a stable medium of exchange to meet the evolving needs of businesses and consumers accessing finance in web3 and adopting a deflationary model will satisfy these requirements.
Furthermore, increasing the maximum stake amount for validators will decrease the number of nodes on Fuse Network. The increased stake allows community members to have more staking opportunities while ensuring that the verification process for validators remains simple.
Fuse to Upgrade Open Ethereum to Nethermind
As part of these changes, Fuse is upgrading from Open Ethereum to Nethermind to enhance the network’s performance, improve security, and stabilize transaction fees. Fuse explained that the update is essential for maintaining network integrity and performance and will impact Fuse Network across several verticals.
With this migration, Fuse network will enjoy stable gas fees, a reduction in volatility, and lower transaction costs. Nethermind introduces critical new Ethereum Improvement Proposals (EIPs) to protect against potential vulnerabilities and create a more secure environment.
The Fuse team believes that these updates are a huge moment as they move to enhance the capacity, structure, and reliability of the network. By increasing the maximum stake amount, integrating Polygon's CDK, and capping the token supply, the team is enhancing Fuse Network’s scalability, security, and economic stability.
