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 that core team members believe has the power to bring unity to a fractured decentralized landscape.
The document is readable for wider audiences but doesn’t skimp on the technical details. It appears the Apex Fusion approach is 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.
At launch, it appears there will 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 UTXO-based projects easy integration.
Apex Fusion boasts a network built on battle-tested technology but it seems that 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. Presumably this means that EVM and UTXO projects will be able to work together while leveraging the benefits of both.
In a recent video produced entitled Foundations of Fusion Apex core team, and Ethereum early community member Andrej Muzevic stated, “Apex Fusion, for me, is a chance to deliver crypto in a non-partisan way.”
Unity between the EVM and UTXO universe has been a lofty goal sought by entrepreneurs and users alike in the blockchain space. Previously, this difficulty has been addressed by bridges which have 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.
The Apex Fusion core team also published a deep dive into the tokenomics of the Apex Token. The document looked to other successful L1 protocols and designed a token distribution meant 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.
As of this writing, Apex Fusion’s airdrop and testnet launch are 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.
Disclaimer: The above references an opinion of the author and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. Invest responsibly and never invest more than you can afford to lose.
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