New blockchain network built by Ethereum and Cardano OGs, aims to unite the fragmented Web3 space with interoperable technology and a community-centric token.
Web3 needs unity to thrive. Apex Fusion, a new blockchain project, aims to do just that.
The new cutting-edge network recently made waves by announcing a cohort of over 20 launch partners from the world of unspent transaction output (UTXO) and Ethereum virtual machine (EVM).
Now, they’re putting their tech where their mouth is by releasing their Litepaper to the world alongside a 14-video Litepaper Playlist. The Apex Fusion Litepaper contains the technical infrastructure core team members believe can bring unity to a fractured decentralized landscape.
Interoperability Is King
The document is readable for wider audiences but doesn’t focus on technical details. The Apex Fusion approach appears to create a multi-chain network that allows interoperability from the EVM and UTXO universe.
The core of the Apex Fusion ecosystem is the UTXO-based Prime Chain, built with the Ouroboros proof-of-stake (POS) consensus mechanism pioneered by inclusion in the Cardano ecosystem. This means that the Prime Chain is provably secure as it scales. It also allows the chain to lend decentralization to the other chains in its network.
Ganging-Up the Chains
At launch, there will likely be two additional chains, each with bespoke utility.
The Nexus Chain allows the deployment of accounts-based Dapps and smart contracts on the Apex Fusion network with the security and decentralization lent from the Prime Chain. The initial launch network adds additional utility by adding another foundational chain.
Vector, the third component of the Apex Fusion ecosystem explained in the Litepaper, is built to allow easy integration of UTXO-based projects.
Battle Tested Tech
Apex Fusion boasts a network built on battle-tested technology but the foundational chains are crafted to interoperate with one another through an original creation of the Apex core team: the Reactor Bridge.
The bidirectional Bridge allows the Apex Token to travel seamlessly between chains. This means that EVM and UTXO projects will be able to work together while leveraging both benefits.
In a recent video entitled Foundations of Fusion Apex core team, Ethereum early community member Andrej Muzevic stated, “Apex Fusion, for me, is a chance to deliver crypto in a nonpartisan way.”
Unity between the EVM and UTXO universes has been a lofty goal sought by entrepreneurs and users alike in the blockchain space. Previously, this difficulty was addressed by bridges, which often proved complicated and costly to use.
The Litepaper concludes by describing future plans to onboard an information, reputation, and governance hub called the Vision Portal.
“The vision portal is where we combine the best ideas with the best technology and, most importantly, the best people,” according to the video series released last week.
Tokenomics: Building and Boosting
The Apex Fusion core team also published a deep dive into the Apex Token’s tokenomics. The document looked to other successful L1 protocols and designed a token distribution to build critical infrastructure while boosting the community.
According to a chart provided by the tokenomics document, around 54 percent of the tokens will go to the community and ecosystem.
8 percent of these tokens are set to be distributed in an upcoming airdrop to the Cardano community.
According to The Fuse News, Apex Fusion’s airdrop and testnet launch is expected shortly.
Uniting the world of Web3 has been an industry-wide challenge, but Apex Fusion is showing incredible velocity, technical infrastructure, and token dynamics, which might make it possible for leading ecosystems to build together.
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