The modular execution layer Fuel launches a native cross-chain bridge, supporting asset transfers between L1 and L2

2023-10-13 09:47:27

Collection

ChainCatcher News, Ethereum Modular Execution Layer Fuel announces the opening of the Beta-4 testnet and the native bridge between Ethereum Sepolia. According to the official introduction, the Fuel native bridge can transfer assets between L1 and L2, and utilizes the message portal to handle token standards such as ERC-20 and ERC-721. On L2, tokens have dedicated contracts for message processing and minting on Fuel. Any assets deposited into Fuel may take up to 6 hours to withdraw back to Ethereum. The Fuel native bridge is still in the testing phase.

According to the crypto data platform RootData, in September 2022, Fuel Labs announced the completion of a $80 million funding round, led by Blockchain Capital and Stratos Technologies, with participation from Alameda Research, CoinFund, Bain Capital Crypto, TRGC, Maven 11 Capital, Blockwall, Spartan, Dialectic, and ZMT.

(Source Link)

Related tags

Fuel modular blockchain Sepolia

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.