Tel Aviv, Israel – Fuse Network, a leading layer 1 blockchain player specializing in scaling Web3 payments, has joined forces with globally acclaimed blockchain technology company Polygon Labs in a groundbreaking collaboration. Fuse is embarking on an ambitious journey to create a revolutionary Ethereum-based Zero Knowledge (ZK) Layer 2 (L2) network by leveraging the powerful capabilities of the Polygon Chain Development Kit (CDK).
The ZK-based Layer-2 network will become Fuse’s new native platform, providing users and developers with access to the world’s most popular blockchain ecosystem. FUSE, its native utility token, will be the designated token to cover gas fees on this network.
Ethereum’s increased scalability, unparalleled customization capabilities, privacy options, compliance-friendly architecture, and strong support for the Web3 ecosystem make Polygon CDK the ideal choice for Fuse and a significant catalyst for businesses to embrace blockchain. Ready to be.
Mark Smargon, CEO of Fuse Network, highlights the importance of this initiative:
“At Fuse, we are pioneering the future of Web3 payments by building an ecosystem that prioritizes the needs of our users and partners. Our vision includes ultra-low transaction costs, instant clearing and finality, high throughput, and a decentralized set of validators. To achieve these goals, we conducted extensive research and found that Polygon CDK is a perfect fit for our ecosystem.”
Migration process to Polygon CDK:
• Step 1: Deploy the ZK rollup on Fuse’s existing L1 to test the new stack with a mock prover to evaluate cost and performance. • Phase 2: Integrate L1 <> L2 communication into Fuse products to ensure seamless integration and movement between L1 and L2 and integrate Fuse token economics into the rollup. This phase includes bundling separate pricing for L2 services and integrating bridging and liquidity across the Polygon ecosystem. • Step 3: Migrate the network to ZK Validium with your chosen partner (Zeeve, Gateway, Avail, etc.), migrate the validator set to the new stack, and work with key stakeholders to test the new network on testnet. Faster migration options for liquidity and bridging were then developed.
Look to the future with features like zkEVM to improve network TPS, improved user experience with instant ZK transfers, a decentralized validator set for enhanced security, improved bridging capabilities, and valuable partnerships with ecosystem players like Zeave and Gateway.
Privacy is key in today’s digital environment, and for businesses operating at Fuse, it’s no different. By migrating to Polygon CDK, Fuse strengthens its product and makes it the best Web3 payment solution for enterprises.
Polygon CDK information:
The Polygon Chain Development Kit (CDK) accelerates blockchain innovation, enabling developers to create custom Ethereum Layer-2 (L2) solutions. It guarantees instant transaction finality, unlimited scalability, and integrated liquidity pools. Polygon CDK is at the forefront of blockchain adoption, providing zero-knowledge (ZK) technology, privacy options such as zero-knowledge proof (ZKP), and strong support for the Web3 ecosystem.
Most importantly, Polygon CDK enables businesses to accept blockchain and cryptocurrency payments on the Fuse Network. A representative example is Wirex, a global cryptocurrency payment leader with 6 million users. The company leverages Polygon CDK for its app chain (W-Pay).
With this development, Fuse Network aims to revolutionize Web3 payments by providing scalability, customization, privacy, and strong Web3 support. It also promises to provide low transaction costs, instant finality, high throughput, and decentralized security for blockchain payments.
For media inquiries, please contact ian@fuse.io.
Fuse network information:
Fuse Network is a leading Layer-1 blockchain platform dedicated to scaling Web3 payments. With a commitment to user-centric solutions, Fuse Network is at the forefront of the blockchain-based payments revolution.
About Polygon Lab:
Polygon Labs is a world-renowned blockchain technology company with expertise supporting blockchain innovation. The company provides cutting-edge solutions to drive adoption of blockchain technology.
Disclaimer: This is a sponsored press release and is provided for informational purposes only. It does not reflect the views of Crypto Daily and is not intended to be used as legal, tax, investment, or financial advice.