Fuel Ignition: A Powerful New Ethereum L2 Goes Live

Fuel is an optimistic rollup L2 on Ethereum. It launched 4 years ago. This Fuel V1 was also the first stage 2 optimistic rollup on Ethereum.

Time flies when you’re having fun. Now it’s time for an upgrade. Hence, Fuel launched Fuel Ignition. Like other L2s, it’s fast and offers cheap transactions. Their very own FuelVM powers this L2. So, what’s going on behind the scenes of Fuel Ignition?

What Is Fuel Ignition

Fuel launched Fuel Ignition with a couple of good ideas in the back of their mind. For example, it’s verifiable at home. That means that you can handle the execution layer, the consensus, at home. In other words, you only need to meet consumer hardware requirements. This should translate to low set-up costs.

This also tackles a completely different issue at hand. According to Fuel, there’s a growing concern within the blockchain sector. It’s becoming more and more centralized. The average node requirements increase. It’s expensive to run a node and become a validator. This contrasts with the original decentralized nature of blockchains. 

As a result, Fuel came up with a solution to this issue. Their architecture allows you to run a node in your basement. Their tech has freedom written all over it and encourages Ethereum’s core values. These are:

  • Decentralization.
  • Security.
  • Community-driven development.

This resulted in Fuel Ignition. However, the team also makes it clear that this is only the first step. It uses the Fuel Virtual machine (FuelVM). It also uses a UTXO or unspent transaction output model. This is the ‘change’ left after a crypto transaction. You can compare it to the change you receive after buying something in a shop.

For example, you buy a $5 item with a $10 bill. You get $5 back in change. The picture below shows the Ethereum DA or Data Availability.

Fuel Ignition

Source: Fuel Blog 

This DA is important since it shows Ethereum’s security for Fuel. The new L2 also offers parallel transactions, which makes it fast. It can reach 21,000+ TPS (transactions per second).

Another interesting aspect is that you can use any EVM or Phantom wallet. So, MetaMask, Rabby, Phantom, or Solflare, and many more, they all work.

The Fuel Ecosystem

Fuel already has a thriving ecosystem. For example, in sectors like:

  • Bridging
  • DeFi
  • Education
  • Gaming
  • Launchpads
  • NFTs and more.

It also uses oracles like Pyth, Orao, and Redstone. See the picture below:

Fuel Ignition
Fuel Blog

To sum up, Fuel Ignition offers a more decentralized L2. It’s a follow-up to Fuel’s original V1 from 4 years ago.  Running a node on this new L2 is made for home use. That’s where decentralization comes back into play.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.

Copyright Altcoin Buzz Pte Ltd.

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