FUEL
Fuel Network
Fuel Network
FUEL
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Fuel Network is a modular execution layer aimed at enhancing Ethereum rollups by offering scalability, reduced transaction costs, and decentralised sequencing. Its native token, FUEL, secures the network through staking, pays for network resources, and supports application-specific sequencing to eliminate user transaction fees. Developed by Fuel Labs and co-founded by John Adler and Nick Dodson, the project focuses on progressive decentralisation and fostering community participation through various incentive programmes.
Fuel Network is a modular execution layer designed to optimise Ethereum rollups by addressing key scalability challenges. It introduces parallel transaction execution, state-minimised execution, and improved interoperability. The Fuel Network operates on the Ethereum blockchain and uses the Fuel Virtual Machine (FuelVM), which implements improvements to the Ethereum Virtual Machine (EVM), such as parallel transaction execution and support for multiple native assets.
The native token of the Fuel Network, FUEL, is an ERC-20 token deployed on Ethereum and will also be used on Layer 2 (L2) networks.
Fuel aims to provide a scalable and decentralised solution for executing rollups, with a particular focus on reducing transaction fees and improving network efficiency through its decentralised sequencer architecture. This sequencer operates on a Proof-of-Stake (PoS) model using Tendermint consensus.
The FUEL token serves multiple functions within the Fuel Network:
- Securing the Network:
- FUEL is used in a decentralised staking system to secure the network.
- Validators (sequencer proposers) stake FUEL tokens to propose and validate blocks.
- Network participants can delegate their FUEL tokens to validators in exchange for staking rewards.
- Paying for Chain Resources:
- FUEL is used to pay for resources such as data availability, ordering, and block inclusion on the Fuel sequencer.
- This supports decentralisation by ensuring fair access to network resources.
- Application-Specific Sequencing (ASS):
- FUEL allows decentralised applications (dApps) to influence the order and inclusion of transactions.
- Stakers can bond their FUEL to specific applications, earning rewards and enabling gasless transactions for users.
- This creates a market for Layer 2 chain resources, improving user experience by eliminating transaction fees.
- Ecosystem Growth:
- Over 51% of FUEL's supply is allocated to community incentives, ecosystem development, and research and development (R&D).
- Fuel's Points Program and partnerships with platforms like Legion, Impossible Finance, and Bitget encourage community participation.
Fuel Network was co-founded by John Adler and Nick Dodson.
- John Adler is a co-founder of Fuel Labs and is known for his expertise in blockchain scalability solutions, particularly rollups. He has contributed to the development of optimistic rollups and Ethereum Layer 2 solutions.
- Nick Dodson is the co-founder and current CEO of Fuel Labs. He leads the strategic direction and development of the Fuel Network, focusing on creating scalable and decentralised blockchain infrastructure.
Fuel Labs, under the leadership of Adler and Dodson, developed Fuel Network to address the limitations of existing rollup solutions. They introduced innovations such as the FuelVM and the Sway programming language to enhance smart contract development and network performance.
