Fuse Network has announced that the consensus contract on the Flash Testnet Network is now live, according to the latest updates shared with Finbold on July 29.
Dedicated to advancing the network’s capabilities, stability and decentralization, Fuse is also introducing several major 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 increase the scalability, security and interoperability of the network.
As Fuse progresses toward the zkEVM architecture, the mainnet launch will be accelerated 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 enhancements and features guiding the transition include a ZK Layer-2 network that leverages Polygon CDK to create an Ethereum-based Zero Knowledge (ZK) network, which will become our own network upon launch .
Furthermore, the team hopes for more scalability, customization, privacy and Web3 support, with FUSE serving as a token for the gas fee.
Likewise, phased testnet adjustments, including ZK rollup deployment, L1 <> L2 integration, and migration to ZK Validium, will improve user experiences with increased transactions per second throughput (TPS) and decentralized validation.
Finally, Fues hopes to forge strategic partnerships to drive enterprise adoption of blockchain.
Upgrade to the consensus mechanism
The change to Fuse Network’s consensus mechanism means limiting the maximum supply of FUSE tokens, adopting a deflationary token model, and introducing a new maximum stake requirement for validators.
This will hopefully drive demand for tokens and long-term value for community members while supporting L2 migration.
A deflationary model will provide more stable exchanges for businesses and consumers in need of Web3 financing and will stabilize FUSE prices, adding value to all stakeholders.
Increasing maximum stake amounts for validators will also reduce the number of nodes on Fuse, simplifying the validation process as validators can use fewer nodes.
Migration to Nethermind
Finally, Fuse is upgrading from Open Ethereum to Nethermind in an effort to improve performance, improve security, and stabilize transaction fees.
Likewise, Nethermind is introducing crucial new Ethereum Improvement Proposals (EIPs) to protect against potential vulnerabilities.