Fuel Network Price

Fuel Network is a blockchain platform designed to enhance Ethereum's scalability. It began as a Layer-2 solution, specifically an optimistic rollup, on Ethereum in late 2020.

Fuel separates the execution layer from the consensus and data availability layers, allowing for more efficient transaction processing. This modular approach reduces congestion and lowers gas fees.

At its core is the Fuel Virtual Machine (FuelVM), which uses a UTXO (Unspent Transaction Output) model. This design enables parallel transaction execution, boosting throughput compared to traditional single-threaded blockchains.

Developers can use Sway, a programming language based on Rust, to write smart contracts on Fuel. Sway offers a clean syntax and is tailored for blockchain development, enhancing the developer experience.

The FUEL token powers the Fuel Network. It facilitates transactions and supports decentralized applications (dApps) within the ecosystem.

Fuel Network enhances Ethereum's performance by separating transaction execution from consensus and data availability. This modular design reduces congestion and lowers gas fees.

At its core is the Fuel Virtual Machine (FuelVM), which uses a UTXO (Unspent Transaction Output) model. This design enables parallel transaction execution, boosting throughput compared to traditional single-threaded blockchains.

Developers can use Sway, a programming language based on Rust, to write smart contracts on Fuel. Sway offers a clean syntax and is tailored for blockchain development, enhancing the developer experience.

The FUEL token powers the Fuel Network. It facilitates transactions and supports dApps within the ecosystem.

Fuel Network, developed by Fuel Labs, is a blockchain platform aimed at enhancing Ethereum's scalability and performance. In December 2020, Fuel Labs launched Fuel V1, the first optimistic rollup on Ethereum.

In October 2024, Fuel Labs introduced Fuel Ignition, a high-performance Ethereum Layer 2 solution powered by the FuelVM.

Fuel's roadmap includes plans to enhance security by implementing permissionless fault proving, aiming to achieve Stage 2 security status. 

The FUEL token serves multiple purposes within the Fuel Network ecosystem:

1. Transaction Fees: FUEL is used to pay for operations on the Fuel blockchain, such as deploying and interacting with smart contracts, and transacting NFTs and DeFi applications.

2. $FUEL Staking and Network Security: Holders can stake or delegate FUEL tokens to validators, contributing to network security and earning rewards.

3. Governance: FUEL tokens may provide holders with voting rights on network proposals, influencing the project's future direction.

Additionally, you can trade Fuel Network tokens on cryptocurrency exchanges like KuCoin, allowing for liquidity and investment opportunities.

The total supply of FUEL tokens is 10 billion. The allocation is as follows:

1. Community: 20% (2 billion tokens) are designated for community initiatives, including airdrops for Fuel Points and testnet participants.

2. Ecosystem Support & Research and Development (R&D): 30.8% (3.08 billion tokens) are allocated to ecosystem support and R&D efforts, with a portion subject to a 24-month release schedule.

3. Contributors: 16% (1.6 billion tokens) are reserved for contributors, with tokens released linearly over 24 to 48 months.

4. Investors: 33.1% (3.31 billion tokens) are allocated to investors, with a release period over 24 months.