👨‍🏫 Introduction

Background

The cryptocurrency market has witnessed explosive growth, driven by the advent of decentralized finance (DeFi) and the increasing acceptance of digital assets as viable alternatives to traditional financial instruments. However, this growth has also highlighted significant challenges that limit broader adoption. The complexities associated with managing multiple blockchain networks, high transaction fees, and the need to hold various cryptocurrencies for different networks are major obstacles that prevent many potential users from fully engaging with cryptocurrencies.

Most wallets on the market require users to manage multiple tokens for different networks—Ethereum for Ethereum-based transactions, BNB for Binance Smart Chain, and so on. This necessity to hold and manage multiple cryptocurrencies complicates the user experience and increases the risk of errors, making the process daunting even for seasoned users. As a result, there is a pressing need for a solution that simplifies these processes and consolidates the user’s needs into a single asset—1FUEL.