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Fuel Labs, Creator of the First Optimistic Rollup, Unveils “Rollup OS”: The Operating System Purpose-built for Ethereum Rollups

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LISBON, Portugal, Feb. 21, 2024 /PRNewswire/ — Fuel Labs, creator of the first optimistic rollup Fuel V1, today announced its evolution into the “Rollup OS”, a complete operating system specifically designed to help Ethereum rollups realize their full potential. Specifically designed to tackle critical limitations in the existing rollups architectures, the strategic shift strengthens Fuel Labs’ position as a visionary in the Ethereum ecosystem while paving the way for its mainnet launch in Q3 2024.

Unlike existing virtual machines (VMs) designed for layer-1 (L1) blockchains or general-purpose computation systems, Fuel offers the first purpose-built VM that will unlock new capabilities for Ethereum rollups.

Fuel’s unique architecture addresses core challenges in blockchain scalability beyond the conventional paradigm of modularity and even data availability — enabling higher throughput via parallelization, state minimization, seamless interoperability and VM customizability.

“As rollups mature, it’s clear that an operating environment optimized for their unique requirements is a non-negotiable next step. Fuel is that evolution: the ‘Rollup OS’ solves critical bottlenecks, future-proofing both rollup technology and the Ethereum ecosystem,” said Nick Dodson, CEO and Co-Founder of Fuel Labs.

Addressing Ethereum’s Scaling Bottleneck

Ethereum’s reign as the dominant smart contract platform is undeniable, yet its future-readiness and developer appeal hinges on EVM’s ability to solve future requirements of Ethereum rollups. As rollups and modular infrastructure rise, existing technologies made for general computation, or monolithic L1 systems, fail to address the evolving demands of this rollup-centric reality. This forces developers to navigate compromises in design, limiting innovation, adoption, and ultimately, Ethereum’s long-term vision for a globally decentralized network.

The Fuel Advantage: A New Operating System for the Rollup Era

Fuel brings unprecedented power to Ethereum rollups by combining state-of-the-art innovations and learning from its rich history in rollup development:

  • Parallelization to Fuel Scalability Beyond Modularity: Parallel transaction execution in the FuelVM enables Fuel-powered rollups to offer a highly performant user experience, while preserving Ethereum’s decentralization and security. As blockchain networks are increasingly designed to be modular – separating execution, consensus, transaction finality and data availability into separate layers – optimized performance rests on parallelization to offer next-generation scalability benefits.
  • Tackling State Bloat for Sustainable Growth: Fuel’s advanced UTXO model, coupled with unique state minimization techniques, combats state bloat – referring to the ever-increasing accumulation of data that must be entirely stored and managed by nodes in a blockchain network to ensure proper chain validation and state transitions. This allows Fuel-powered rollups to scale without compromise, inheriting Ethereum-level security all while maintaining the lowest node operation overheads. This translates to significantly decreased processing requirements for validators thereby ensuring long-term decentralization.
  • Introspection for Seamless Interoperability: Cross-chain fragmentation reduces overall efficiency. Features like introspection streamline interchain communication, empowering developers and users to navigate a fully connected, multi-rollup ecosystem on Ethereum with confidence.
  • Security-First Design with Asset Orientation: FuelVM removes non-intuitive features like ERC20’s unlimited approvals, and introduces multiple native assets for use cases like native NFT bridging and much more. Native account abstraction and support for multiple signature schemes open the doors to effortless user and wallet onboarding into web3, accelerating mainstream adoption.
  • Developer Empowerment:
    • FuelVM: The heart of the Rollup OS, FuelVM provides maximum flexibility and power to developers, unlocking innovations impossible with constrained legacy architectures.
    • Sway: A domain-specific language designed for blockchains, combining features of Rust and Solidity for secure, yet developer-friendly, blockchain programming.
    • Forc: A suite of powerful tools simplifying and accelerating dApp development and deployment on Fuel-powered chains.
  • Highly Customizable: The Rollup OS unlocks a new wave of creativity in innovative decentralized application (dApp) building, purposefully designed to support use cases that require high computational load, such as advanced decentralized finance (DeFi) protocols and web3 gaming.
  • Open-Sourced Security & Collaboration: Fuel prioritizes Ethereum’s security as the foundation, while advocating for collaboration over competition through its open-source ethos.

Fuel aims to remodel execution in order to fuel the future of Ethereum, unlocking never before seen web3 use cases at massive scale. For more information, developers may visit Fuel’s tech docs at https://docs.fuel.network. Support can also be found via Fuel’s Discord at https://discord.com/invite/fuelnetwork.

###

Nick Dodson, CEO and Co-Founder of Fuel Labs is available for interview.

About Fuel

Fuel is an operating system purpose-built for Ethereum rollups. Fuel aims to bring new capabilities to the Ethereum Ecosystem all while preserving decentralisation. Fuel rollups will have parallelization, state minimised execution, and interoperability along with native account abstraction and support for wallets of all networks.

Fuel combines the purpose-built FuelVM, a highly optimised Rust-based blockchain programming language Sway, a fully integrated tool chain Forc, and several services to create a complete Rollup OS for Ethereum. Fuel’s unique architecture will allow developers to build experiences never before seen in the Ethereum ecosystem.

For more information, please visit:
Website | X/Twitter | Discord | Blog | GitHub | Documentation | Forum

Logo – https://mma.prnewswire.com/media/2344492/4554137/Fuel_Labs_Logo.jpg 

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Blockchain

Binance Announces Adjustment of Tick Size for Spot Trading Pairs

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Binance, a leading cryptocurrency exchange, has announced adjustments to the tick size (the minimum change in the unit price) of specific spot trading pairs. These adjustments are aimed at enhancing market liquidity and improving the overall trading experience for users. The changes are scheduled to be completed by 05:00 (UTC) and 07:00 (UTC) on May 23, 2024.

Traders can find details about the tick sizes of all spot trading pairs on Binance in the platform’s Trading Rules. Importantly, the adjustment will not impact spot trading and related functionalities. API users will also observe changes in the tick size, and they can stay updated with the latest tick size using the GET /api/v3/exchangeInfo endpoint. Additional details and updates can be found in the API Changelog.

Existing spot orders will not be affected by the tick size update. Orders placed before the update will continue to be matched with the original tick size. However, traders are advised to adjust their trading strategies accordingly to avoid any unnecessary impact on their trading activities.

Binance emphasizes the importance of referencing the English version of the announcement for the most accurate and up-to-date information, as there may be discrepancies in translated versions. The exchange remains committed to providing a seamless trading experience and appreciates the support of its users. Users are reminded to exercise caution and make informed decisions when trading on the platform.

Source: blockchain.news

The post Binance Announces Adjustment of Tick Size for Spot Trading Pairs appeared first on HIPTHER Alerts.

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OKX Announces Support for New USDC Spot Trading Pairs

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According to an official announcement released on May 16, 2024, OKX will introduce new USDC trading pairs in the spot trading section between 7:00 am and 8:00 am UTC on May 20, 2024. This addition aims to broaden trading options for OKX users and contribute to the expanding USDC ecosystem.

In light of the risks associated with digital asset trading, OKX has issued a cautionary note to all users. They emphasize that information provided by OKX and third parties is for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of any information and does not provide financial, investment, or other forms of advice.

OKX highlights the speculative nature and high volatility of digital assets, cautioning that they may become illiquid at any time, potentially resulting in the loss of the entire investment. Therefore, OKX advises users to conduct thorough research and assess their risk tolerance before engaging in digital asset trading.

For inquiries regarding the new USDC spot trading pairs or any other concerns, users can contact OKX through their support center or engage with the OKX team on various platforms. OKX’s proactive approach in addressing user inquiries and fostering community interaction underscores its commitment to user satisfaction and the overall growth of the crypto ecosystem.

Source: blockchain.news

The post OKX Announces Support for New USDC Spot Trading Pairs appeared first on HIPTHER Alerts.

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ShibaSwap rolls out major upgrade, moves to Shibarium

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ShibaSwap, the decentralized exchange (DEX) affiliated with the Shiba Inu ecosystem, has announced a significant upgrade by migrating to the Shibarium blockchain. This move is expected to introduce a range of new utilities for users, as stated in a recent press release.

The upgrade includes features such as a revamped dashboard, enhanced user experience, discovery charts for trending tokens, and an improved process for onboarding new tokens onto the DEX.

Lead developer Shytoshi Kusama expressed enthusiasm for the upgrade, highlighting its potential to empower DEFI innovators and facilitate community token interaction on Shibarium. Kusama also invited the community to explore the new swap and encouraged existing Shibarium tokens to transition to the platform seamlessly, while assuring that further updates are in the pipeline.

A portion of transaction fees will be utilized to enhance liquidity pool (LP) value in swap transactions, benefiting users and the yield farming community, according to the press release.

The upgrade rollout will prioritize enhancing discovery and can be expected to include more regular updates and upgrades, as noted by fellow developer and contributor Kaal.

The upgrade aims to minimize gas fees and ensure faster transactions, in addition to supporting various segments of the Shiba Inu Ecosystem, including $SHIB and $LEASH tokens, SHEboshis DN-404 tokens, SHIB The Metaverse, ShibaSwap DEX, and the Shiba Eternity game.

Shibarium’s layer 2 mainnet, launched in August 2023, saw the creation of 21 million wallets and was trialed by millions of users. It introduced a new consensus mechanism called proof-of-participation (PoP), which selects validators based on their holdings of the associated cryptocurrency.

As of the latest data, the price of SHIB stands at $0.0002548, reflecting an almost 7% increase in the last 24 hours, with SHIB being the 11th largest in terms of market cap, according to CoinMarketCap.

Source: cointelegraph.com

The post ShibaSwap rolls out major upgrade, moves to Shibarium appeared first on HIPTHER Alerts.

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