Fuse Network, Polygon Labs Partner to create New Platform
In a groundbreaking collaboration, Fuse Network, a leading Layer-1 blockchain player specializing in scaling Web3 payments, has teamed up with Polygon Labs, a globally acclaimed blockchain technology firm.
Fuse embarks on an ambitious journey to create an innovative Ethereum-based Zero Knowledge (ZK) Layer-2 (L2) network, utilizing the formidable capabilities of the Polygon Chain Development Kit (CDK).
The ZK-powered Layer-2 network will become Fuse’s new native platform, providing users and developers access to the world’s most prominent blockchain ecosystems. Fuse’s native utility token, FUSE, will be the designated token for covering gas fees on this network.
Driven by its scalability enhancements for Ethereum, unparalleled customization capabilities, privacy options, compliance-friendly architecture, and robust support for the Web3 ecosystem, Polygon CDK is the ideal choice for Fuse, poised to become a significant catalyst for businesses embracing blockchain.
“At Fuse, we’re pioneering the future of Web3 payments by building an ecosystem that prioritizes the needs of our users and partners. Our vision includes very low transaction costs, instant clearing and finality, high throughput, and a decentralized validator set. In our quest to achieve these goals, we’ve conducted extensive research and found that using Polygon CDK perfectly fits our ecosystem.” said Mark Smargon, CEO of Fuse Network.
Migration Process to Polygon CDK:
● Step 1: Deployment of the ZK rollup on Fuse’s existing L1, allowing testing of the new stack with a mock prover to assess costs and performance.
● Step 2: Integration of L1 <> L2 communication into Fuse’s products, ensuring seamless integration and movement between L1 and L2, along with Fuse tokenomics integration into the rollup. This step will also encompass building separate pricing for services on L2 as a bundle and bridging and liquidity integration across the Polygon ecosystem.
● Step 3: Migration of the network to ZK Validium with a chosen partner (Zeeve, Gateway, Avail, etc.), migration of the validator set to the new stack, and collaboration with leading stakeholders to test the new network on a testnet. Subsequently, a quick migration option for liquidity and bridges was developed.
Read Also: Fuse Network Unveils $10 Million Grants Program to Power Web3 Innovation
Looking ahead, with features like zkEVM to boost network TPS, enhanced user experiences through ZK instant transfers, a decentralized validator set for heightened security, improved bridging capabilities, and valuable partnerships with ecosystem players like Zeave and Gateway.
Privacy is key in today’s digital landscape, and it’s no different for businesses operating on Fuse. With this migration to Polygon CDK, Fuse is set to enhance its offerings, making it the ultimate Web3 payment solution for businesses.
About The Author
