The global launch of Fuel Ignition, the new Layer 2 for the Ethereum network, designed to solve the growing centralization affecting blockchain ecosystems, took place this Wednesday (16).
Promising a new, extremely high-performance architecture, the mainnet runs mainly on affordable hardware.Â
Fuel Ignition is also tropicalized
The minds behind the new product are from Fuel Labs, creator of the first stage 2 optimistic rollup for the Ethereum network, and Infinity Base, a Brazilian software house based in FlorianĂłpolis.
Fuel is the most advanced in the Ethereum network today, and we are proof that Brazil, especially FlorianĂłpolis, is fertile ground for high technology. It is an honor to participate and contribute to the development of a network that shares the same principles as us: which is to always maintain the highest quality of technology. It is no surprise that FUEL has a robust tech team and has been in development for around 4 years, says Infinity Base CEO, JoĂŁo Bolsoni.Â
Bolsonaro is emphatic about his concept of valuing product quality in the long term. For him, the quality of technology is more important than using the hype of the moment to make money with yet another passing project.
We are doing something to make a positive impact on the world, he says.
Fuel architecture can run global payments system
In search of a more fluid and intuitive user experience, the Fuel architecture has parallel transaction capabilities that provide more than 21 thousand transactions per second (TPS) per core. In other words, transactions are much faster.
Fuel Ignition also starts with a realistic 600 TPS, with the security of Ethereum DA (Data availability). This already positions Fuel as a new hub for EVM-compatible DeFi applications. However, the capacity can easily exceed 21,000 TPS per core, with multicore nodes and parallel transactions.
To get an idea of ââthe transactional power of the new layer 2, Visa, for example, performs 24 thousand TPS. In practice, this means that Fuel is able to run a global payment system like Visa. Something that Ethereum, for example, cannot do, as it is slower.
In practice, Fuel paves the way by combining scalability with Ethereum's security, making it a competitive alternative even for global players, who depend on high capacity and reliability in transactions, explains Fabio SevĂĄ, Head of Marketing at Infinity Base. Fuel was designed from the beginning of its architecture to be a high-performance network, adds the Brazilian CEO.
A new virtual machine architecture, FuelVM, and an asset-centric transaction model based on Unspent Transaction Output (UTXO) power all this operational power.
Designed to operate at low cost and be scalable
For Infinity Base, being positioned at Fuel provides a solid foundation to innovate in digital financial products, reaching larger markets with efficiency and reliability, essential to grow in a competitive scenario.
Another advantage according to the brand is that it was designed exclusively to operate on low-cost hardware, with improved Ethereum security.
Fuel was built to deliver Web2-grade usability through blazing-fast transactions on consumer hardware, said Fuel Labs CEO and co-founder Nick Dodson. âOur goal is to return to the core values ââof the Ethereum ecosystem through scalable transactions, while keeping hardware requirements low,â Dodson added.
Secured by Ethereumâs data availability, powered by a decentralized network with over 8,000 nodes worldwide, Fuel Ignition provides the foundation for maximum security and sources of liquidity (over $290 billion) for users.
Vitalik Buterin supports Fuel Ignition
Ignition is certainly a revolutionary initiative. It has been improving since the launch of Fuel V1 in 2020, always with a focus on improving Ethereum's scalability.
In fact, Ethereum creator Vitalik Buterin himself praised the initiative. In a tweet on September 25 of this year, Vitalik responded to the CEO of Fuel Network:
âI admire all the work you and @fuel_network have done for the ecosystem! Being one of two stage 2 rollups is an accomplishment, and itâs great to see experimentation with virtual machine designs.â
Appreciate all the work you and @fuel_network have done for the ecosystem! Being one of only two stage 2 rollups today is an achievement, and it's good to see experimentation with alternative virtual machine designs. pic.twitter.com/BlSUcim4vG
â vitalik.eth (@VitalikButerin) September 25, 2024
Infinity Base has a multi-chain wallet with a points program
Bako Safe, created by Infinity Base, is a multi-signature wallet natively integrated into Fuel. It is available for web and mobile devices and, most importantly, does not require installation. This solution is essential to ensure security within the ecosystem.
The Fuel Points program has already accumulated over $350 million in total value locked (TVL). Qualified users can earn Fuel Points by actively using applications within the growing Fuel ecosystem, such as the multi-signature wallet developed by Infinity Base.
According to Bolsoni, Infinity Base is at the forefront of Fuel, both in outsourcing the development of the network's official connectors and in the creation of Bako.
We are managing to show the world the potential that Brazilians have in developing disruptive technologies. We are innovators by nature, concludes the CEO of tropicalized Fuel Labs.
The name Bako, inspired by traditional Japanese secret boxes, reflects Infinity Baseâs commitment to security. Like these boxes that require a sequence of movements to open, the Bako Safe offers additional layers of protection for users.
The article With Brazilian flavor, Fuel Labs launches new chain for Ethereum was first seen on BeInCrypto Brasil.
