Tel Aviv, Israel
In a groundbreaking collaboration, Fuse Network, a leading layer-one blockchain player specializing in scaling Web 3.0 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 ZK (zero-knowledge) layer-two network, utilizing the formidable capabilities of the Polygon CSK (chain development kit).
The ZK-powered layer-two 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 Web 3.0 ecosystem, Polygon CDK is the ideal choice for Fuse, poised to become a significant catalyst for businesses embracing blockchain.
Mark Smargon, CEO of Fuse Network, underscores the significance of this initiative, and said,
“At Fuse, we’re pioneering the future of Web 3.0 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.”
Migration process to Polygon CDK
- Step one Deployment of the ZK rollup on Fuse’s existing layer-one, allowing testing of the new stack with a mock prover to assess costs and performance.
- Step two Integration of layer-one <> layer-two communication into Fuse’s products, ensuring seamless integration and movement between layer-one and layer-two, along with Fuse tokenomics integration into the rollup. This step will also encompass building separate pricing for services on layer-two as a bundle and bridging and liquidity integration across the Polygon ecosystem.
- Step three 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.
Looking ahead, with features like zkEVM to boost network TPS, enhanced user experiences through ZK instant transfers include 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 Web 3.0 payment solution for businesses.
About Polygon CDK
Polygon CDK catalyzes blockchain innovation, empowering developers to create custom Ethereum layer-two solutions. It ensures instant transaction finality, limitless scalability and unified liquidity pools.
Polygon CDK is at the forefront of blockchain adoption, offering ZK technology, privacy options such as ZKP (zero-knowledge proofs) and robust support for the Web 3.0 ecosystem.
Most significantly, Polygon CDK empowers businesses to embrace blockchain and crypto payments for Fuse Network.
A prime example is Wirex, a global crypto payments leader with six million users, which harnesses Polygon CDK for its app chain, W-Pay.
With this development, Fuse Network aims to revolutionize Web 3.0 payments, offering scalability, customization, privacy and robust Web 3.0 support.
Moreover, this promises to bring low transaction costs, instant finality, high throughput and decentralized security to blockchain payments.
For media inquiries, please contact Fuse here.
About Fuse Network
Fuse Network is a leading layer-one blockchain platform dedicated to scaling Web 3.0 payments.
With a commitment to user-centric solutions, Fuse Network is at the forefront of revolutionizing blockchain-based payments.
About Polygon Labs
Polygon Labs is a globally renowned blockchain technology company with expertise in empowering blockchain innovation.
The company provides cutting-edge solutions to advance the adoption of blockchain technology.
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
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