What is Fuel Network (FUEL)?
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🟢 The simple version
Plain English — no jargon. Start here.
Fuel Network is a modular execution layer that uses a UTXO-based model and the FuelVM to enable parallel transaction execution — potentially achieving much higher throughput than the EVM's sequential processing — with FUEL as the governance and utility token.
Parallel execution via UTXO
Ethereum's EVM processes transactions sequentially — one after another. Fuel uses a UTXO (Unspent Transaction Output) model similar to Bitcoin, which allows transactions that don't touch the same state to be executed in parallel. This architectural choice enables significantly higher throughput. FuelVM is Fuel's custom virtual machine, designed from scratch for parallel execution and efficiency, with a new smart contract language called Sway.
Is FUEL legal in India?
Yes. FUEL is a VDA. 30% tax and 1% TDS apply.
🟡 A bit more detail
For when you want to go a little deeper.
Modular blockchain design
Fuel positions itself as the "fastest modular execution layer" — designed to plug into modular blockchain stacks like Celestia (data availability) + Fuel (execution). Rather than being a monolithic chain, Fuel separates execution from data availability and consensus. FUEL token launched in 2024 via airdrop to early testnet participants.
🟣 The full technical picture
For the technically curious.
Key facts
- Token: FUEL (governance + utility)
- Model: UTXO-based parallel execution
- VM: FuelVM (custom, not EVM-compatible)
- Language: Sway