crazydrops.eth | ䷐ Fuel Network “ Beta-3” Testnet

Introduction Blockchain technology has shown immense potential in revolutionizing various industries. However, one of the biggest hurdles faced by blockchain technology is its scalability. The increase in transaction throughput brought about by rollup protocols is still modest, and during high transaction volume periods, the fees are still high. Fuel Network is a Layer 2 protocol for Ethereum that aims to address this issue. In this post, we will explore Fuel Network, its unique features, and its potential use cases.

What is Fuel Network?

Fuel Network is the fastest modular execution layer that delivers the highest security and flexible throughput, with a focus on a superior developer experience. It was the first optimistic rollup to be launched on mainnet Ethereum. Fuel’s main target is scalability, which is still lacking in the current rollup landscape. To achieve global access to blockchain technology, more has to be done to improve its scalability.

Fuel’s Unique Features

Fuel possesses several unique features that enable it to achieve its scalability goals. :

Parallel Transaction Execution Fuel executes transactions in parallel by utilizing strict state access lists in the format of a UTXO model. This allows Fuel to tap into a significantly larger number of threads and cores of CPU that would otherwise be idle in single-threaded blockchains. This drastically increases the transactional throughput as compared to single-threaded counterparts.

Fuel Virtual Machine (VM) Fuel has created a VM that reduces the energy wasted on processing while concurrently offering increased design flexibility for developers. This allows more novel use cases to be developed on the Fuel network.

Enhanced Developer Tooling (Swap and Forc) Swap is Fuel’s domain-specific language while Forc (Fuel Orchestrator) is a supportive toolchain. Both of these are native to Fuel and are aimed at providing developers with a better user experience. The development environment offered by Fuel integrates the benefits of other smart contract languages and the novel features offered by Rust tooling ecosystem. By combining the best of both worlds, Fuel boosts the suite of resources available to developers, hinting towards a robust ecosystem.

Fuel’s Use Cases

Fuel’s flexibility allows it to be deployed in different manners to provide different functions to other protocols or chains.

Fuel as a Rollup Fuel’s technology allows it to function as both an optimistic rollup and a ZK-rollup. And unlike typical rollups, Fuel’s is built to be able to withstand large amounts of Layer 1 bandwidth, which is the core reason for its scalability.

Fuel as a Sidechain By running as a sidechain to a Layer 1, there will be a message passing bridge that is established between the Layer 1 and Fuel. In this scenario, Fuel will handle both data availability and execution, while the settlement of the transaction is performed on the Layer 1.

Fuel as a Layer 1 The technology possessed by the Fuel network technically allows it to function as a Layer 1 solution. However, Fuel’s mission is to enhance existing blockchains by offloading the intensity of transaction execution. Hence, this use case is not actively supported by Fuel.

Funding

https://t.co/MBdFntQ2MV

Fuel Labs has raised $80 million in a round led by Blockchain Capital and Stratos Technologies. Other participants include Alameda Research(bankrupt), CoinFund, Bain Capital

Potencial Airdrop

There has been speculation in the crypto community that Fuel might have a potential airdrop. While there is no official announcement yet, it is worth keeping an eye out for any updates from the Fuel team.

•What to do ?

⎘ “Using Fuel Network and ecosystem apps might lead you to eligible for potential $fuel airdrop???”