Fuse Network unveils its plan to build a ZK-Powered Layer-2 solution powered by Polygon CDK to advance Web3 payments.
In an exciting collaboration, Fuse Network, a prominent Layer-1 blockchain player focused on scaling Web3 payments, has joined forces with Polygon Labs, a globally renowned blockchain technology company.
Fuse embarks on an ambitious journey to create a cutting-edge, ultra-efficient, and robust Ethereum-based Zero Knowledge (ZK) Layer-2 (L2) network, harnessing the formidable capabilities of the Polygon Chain Development Kit (CDK).
What you need to know
- Using Polygon CDK, Fuse Network creates an Ethereum-based Zero Knowledge (ZK) Layer-2 (L2) network.
- The ZK-powered Layer-2 will become Fuse’s native network, offering access to significant blockchain ecosystems and using FUSE as the gas fee token.
- This development leverages the scalability, customization, privacy, and Web3 support of the Polygon Chain Development Kit (CDK).
- The migration to Polygon CDK will take at least 12 months, involving stages like ZK rollup deployment, L1 <> L2 integration, and migration to ZK Validium.
- Mark Smargon, CEO of Fuse Network, highlights the potential of this initiative, with features like zkEVM, improved user experiences, decentralized validation, and strategic partnerships, driving their vision of revolutionizing Web3 payments.
Scaling Web3 Payments
Once migration is complete, the ZK-powered Layer-2 will serve as Fuse’s new native network and provide users and developers access to the world’s biggest blockchain ecosystems. Fuse’s utility token, FUSE, will be used to pay for gas fees on the 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 stands out as a perfect fit for Fuse and promises to be a massive catalyst for businesses’ adoption of blockchain.
Mark Smargon, CEO and co-founder of Fuse Network, expressed the importance of this initiative, stating, “At Fuse, we’re pioneering the future of Web3 payments by building an ecosystem for businesses that prioritizes the needs of our users and partners. Our vision includes 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 the Polygon CDK perfectly fits our ecosystem.”
Migration Process to Polygon CDK
Like all good things, the migration process will come to those who wait, and a realistic timeline of at least 12 months for migration is envisaged. We will approach the launch gradually and timed.
We are deploying the ZK rollup on Fuse’s existing L1 to enable working with a mock prover to test the new stack and evaluate costs and performance.
Integrating L1 <> L2 communication into our products enables seamless integration and movement between L1 and L2. Integration of the Fuse tokenomics into the rollup and building separate pricing for services on L2 as a bundle, alongside integration with bridging and shared liquidity across the Polygon ecosystem.
The network migration to ZK Validium with a chosen partner (Zeeve, Gateway, Avail, etc.) Migration of the validator set to the new stack and work with leading stakeholders to try the new network on a testnet and then develop a quick migration option for the liquidity and bridges.
“Looking ahead, with features like zkEVM to boost our network’s TPS, enhanced user experiences through ZK instant transfers, a decentralized validator set for security, improved bridging, and valuable partnerships with ecosystem players like Zeave and Gateway, we’re confident in our ability to revolutionize Web3 payments,” concluded Mark Smargon, CEO of Fuse.
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 Polygon CDK
Polygon Chain Development Kit (CDK) catalyzes blockchain innovation. It empowers developers to create custom Ethereum Layer 2 (L2) solutions, ensuring instant transaction finality, limitless scalability, and unified liquidity pools. Polygon CDK is revolutionizing blockchain adoption with Zero-Knowledge (ZK) technology, privacy options like Zero-Knowledge Proofs (ZKP), and robust Web3 support.
Most vitally for Fuse, Polygon CDK empowers businesses to embrace blockchain and crypto payments. For example, Wirex, a global crypto payments leader with 6 million users, harnesses Polygon CDK for its App Chain (W-Pay).
This development aims to revolutionize Web3 payments, offering scalability, customization, privacy, and robust Web3 support. Moreover, the development promises to bring low transaction costs, instant finality, high throughput, and decentralized security to Web3 blockchain payments.
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