The ability for tokens and cryptocurrencies to be interchanged with one another in a convenient manner without the complexity of going through exchanges will go a long way towards the mainstream adoption of the emerging technology.
Compared with the already established fiat ecosystem where currencies of different nations can be easily interchanged and applied almost without blinking an eye, different cryptocurrencies appear to still exist exclusively in their unique circles. This situation makes it cumbersome, since users are indirectly compelled to maintain several wallets simultaneously in other to function well within the cryptocurrency ecosystem.
Fixing the bottlenecks
In a time where the digital world is evolving into Internet of Value (IoV), any development that encourages the easy transfer of value represents a move with the trend, and a campaign for effective communication.
In its present state, cryptofinance is experiencing a lot of technical bottlenecks primarily because of the absence of effective interaction between blockchains. As already mentioned above, these blockchains exist as exclusive entities which makes it difficult for value to be moved across them easily. This is one of the reasons why exchanges exist and provide an avenue for such interactions.
A blockchain for blockchains
The creation of Fusion as a blockchain that will enable interaction between other independent blockchains will eventually enhance the activities of the crypto ecosystem, while relieving exchanges of the unnecessary traffic that befall them most of the time.
This innovation is designed to to serve as a general infrastructure / backbone for the future world of cryptofinance by enabling cross-token / cross-chain abilities (Transactions, Smart Contracts, and other high level applications involving different tokens). This interaction solves the existing problems of interoperability, scalability and usability within the cryptocurrency ecosystem.
The inclusive cryptofinance platform that is created by Fusion will utilize distributed network nodes to control various types of tokens’ private keys and, in this way, it connects various values by establishing a control and management layer on top of all types of blockchains. At the same time, it becomes feasible to build cross blockchain smart contracts. In order to further expand
interoperability and scalability, Fusion will also provide interfaces for centralized organizations and off-chain data sources.
Founded and led by DJ Qian, a superstar Chinese entrepreneur formerly behind Quantum and VeChain, Fusion will use token mechanisms and a foundation to continually foster all kinds of communities such as technical communities, college communities, user communities, investment communities, node participant communities, central organizations, and data source
Providers. Apparently, like the name implies, this innovation is primarily about connectivity and the enhancement of proper relationships and communication between independent entities of the same ecosystem.
This innovation adopts a hybrid Proof-Of-Stake (POS) and Proof-Of-Work consensus mechanism, making it way faster and more scalable in comparison to other solutions within the industry.