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Fuel network is an SDK for developing and a smart contract execution environment for Ethereum rollups, designed to address the parallelization, state minimized execution, and interoperability trilemma. It achieves this by implementing its own FuelVM, powered by Fuel’s proprietary programming language called Sway, which combines features from Rust and Solidity.
On September 6, 2022, Fuel Labs crypto company closed an $80M strategic funding round at a $1B valuation, with participation from The Spartan Group, Blockchain Capital, and other prominent funds.