Fuel Network Unveils Beta-3 Testnet, Opening Doors to P2P Networking
Fuel Network, a leading layer-2 scalability technology for Ethereum, has recently announced the launch of its "Beta-3" testnet. As the third public testnet from Fuel, Beta-3 brings new features, including peer-to-peer (P2P) networking and the ability to run synchronizing full nodes on the Fuel platform.
Fuel's v1 debuted as an optimistic rollup on the Ethereum mainnet in 2020. Now Fuel is claimed to be fastest modular execution layer available, offering unparalleled processing capacity. By executing transactions in parallel through the use of strict state access lists in the form of a UTXO model, Fuel surpasses the limitations of the Ethereum Virtual Machine (EVM).
Unlike the EVM, Fuel adopts a modular-first approach to scalable execution, optimizing the efficiency of transaction processing. This enables maximum decentralization and empowers the platform to achieve the highest flexible throughput.
The Beta-3 testnet offers community members the opportunity to actively participate by testing applications. Interacting with Fuel's testnet provides the best chance to be eligible for the potential Fuel airdrop.
The first step involves downloading and configuring the Fuel Wallet. After unzipping the file, users should enable Developer mode in their Chrome Extensions settings and proceed to create their Fuel Wallet.
The next step entails filling the gas can with tokens. Users can visit faucet, enter their address, and click "Give me ether" to claim their testnet tokens.
With tokens in hand, users can then actively interact with Fuel's decentralized applications (DApps) within the ecosystem, further increasing their chances of being included in the airdrop snapshot.
Fuel Network's was developed by Fuel Labs, co-founded by John Adler and Alex Hansen. Adler, who is also a co-founder of Celestia, another prominent modular blockchain project, has positioned Fuel as a modular execution layer, while Celestia excels in optimizing data availability and ordering. The projects complement each other in terms of their technical routes
Fuel Network has attracted substantial support from major investors, with the company securing $80 million in funding. Notable investors include Blockchain Capital and Stratos Technologies, alongside CoinFund, Bain Capital Crypto, and others who participated in the funding round.
About the author
Lee Brooks is passionate about the world of blockchain and crypto and by the endless possibilities these technologies offer