Fuel Labs, an Ethereum (ETH) research group focused on scaling solutions, recently launched the beta testnet for its sidechain network.
According to the announcement, Fuel Labs has released what they are calling Fuel v0, a series of short-lived testnets that test stability and performance. The team notes that v0 will run for several months with plans to release a long-lived testnet of Fuel v1 by the end of Q1.
? Soon™ = now
? We’re proud to announce that the first public testnet for Fuel, the most efficient, scalable, and secure optimistic rollup chain on Ethereum is now live and our code has been open-sourced.https://t.co/3Ab7WgovGl
— Fuel Labs (@fuellabs_) January 9, 2020
Fuel’s beta testnet offers a tokenless ecosystem that enables instant trusted transactions. Fuel Labs uses the UTXO data model similar to Bitcoin, allowing for parallelizable transaction verification and efficient state access patterns, according to the team.
Fuel Labs’ main focus is currently stablecoin payments, which the team believes is critical for the mass adoption of blockchain technology.
“We believe the killer app for any blockchain is Stablecoin Payments,” Fuel Labs previously stated in a blog post. “If a blockchain can master this, it can add tremendous value to the global economy with far-reaching implications. Fuel is focused on addressing this on Ethereum in the form of a simplistic optimistic rollup style approach.”
Those interested in supporting Fuel can do so through the group’s Gitcoin grant.
More: Announcing the Fuel v0 Open Beta
Related: Fuel: Scaling Token Payments 10x Today, 50x in the Near Future
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
