Fuse Network has announced that the Consensus Contract on the Flash Testnet network is now live, as per the latest updates shared with Finbold on July 29.
Dedicated to advancing the network’s capabilities, stability, and decentralization, Fuse is also introducing several key updates, including a new maximum stake requirement for validators, a deflationary token model, and the integration of Polygon’s Chain Development Kit (CDK).
zkEVM Layer 2 Network
The transition to a ZK-powered Layer-2 (L2) network using Polygon CDK is expected to boost the network’s scalability, security, and interoperability.
As Fuse progresses towards zkEVM architecture, its mainnet launch is expedited to Q4 2024.
This aligns with the platform’s overall strategy to make Fuse a modular blockchain, supporting new financial models and business use cases in Web3.
Key improvements and features to accompany the transition include a ZK Layer-2 network leveraging Polygon CDK to create an Ethereum-based Zero Knowledge (ZK) network, which will become our native network post-launch.
Furthermore, the team aims for increased scalability, customization, privacy, and Web3 support, with FUSE serving as the gas fee token.
Similarly, phased testnet adjustments including ZK rollup deployment, L1 <> L2 integration, and migration to ZK Validium will enhance user experiences with increased transactions per second (TPS) throughput and decentralized validation.
Ultimately, Fuse hopes to establish strategic partnerships to drive blockchain adoption for businesses.
Upgrade to the consensus mechanism
The change to Fuse Network’s consensus mechanism involves capping the maximum supply of FUSE tokens, adopting a deflationary token model, and implementing a new maximum stake requirement for validators.
This move aims to stimulate token demand and long-term value for community members while supporting L2 migration.
A deflationary model will ensure more stable exchanges for businesses and consumers seeking Web3 financing and stabilize FUSE prices, adding value to all stakeholders.
Increasing maximum stake amounts for validators will also streamline the validation process by reducing the number of nodes on Fuse, allowing validators to operate fewer nodes.
Migration to Nethermind
Finally, Fuse is transitioning from Open Ethereum to Nethermind, a move expected to enhance performance, enhance security, and stabilize transaction fees.
Nethermind also introduces crucial new Ethereum Improvement Proposals (EIPs) to safeguard against potential vulnerabilities.