According to BlockBeats, on October 16, Fuel Labs announced the official launch of its Ethereum L2 solution Fuel Ignition. Fuel Ignition aims to solve the centralization problem in the blockchain ecosystem by providing a scalable architecture.

The architecture is based on the Fuel Virtual Machine (FuelVM) and the UTXO model, has Ethereum-level security, and can run on inexpensive consumer-grade hardware, open to all users. This progress marks a major breakthrough in blockchain technology in scalability and decentralization.