What is Fusion?
Fusion is a project which consists of an all-inclusive blockchain-based financial platform that offers cross-chain, cross-organization, and cross-data source services through smart contract employment. FUSION was established by the CEO of BitSE, an incubation company which developed QTUM Blockchain and the VeChain blockchain, crypto projects which are both successful.
Fusion wants to solve the main issues that blockchain technology is currently experiencing, namely interoperability and scalability. The project also aims to enable cryptocurrencies from different value classes to be transferred on different chains, resulting in a blockchain that brings together all tokens and coins.
Fusion uses the Hierarchical Hybrid Consensus Mechanism (HHCM) that borrows things from PoW and PoS. At the same time, it uses a parallel computing by grouping nodes together, creating an efficient and safe platform.
The Technologies Behind Fusion
The Internet of Values (IoV)
The Fusion team used in its whitepaper the term Internet of Values which refers mostly to cryptocurrency related matters, such as the exchange and management of digital assets securely and without intermediaries.
The Distributed Control Rights Management (DCRM)
The Distributed Control Right Management is a security layer that protects all locked-in cryptocurrency assets on the Fusion blockchain. The distributed storage and sharding of a private key ensures that no one can have access the complete private key, meaning that no single node can gain control of the digital assets.
Crypto Financial Smart Contract
The Crypto-financial Smart Contract (CSC) is the smart contract that completes a financial transaction between one of multiple cryptocurrencies that are mapped on the FUSION chain by a Lock-in operation.
The Multiple Triggering Mechanism (MTM)
Along with the traditional transaction triggering mechanism, FUSION incorporated time and event based triggers into its smart contracts. These three triggering modes have resulted from various financial situations, and have been designed to meet the requests of complex financial smart contracts.
The Hierarchical Hybrid Consensus Mechanism (HHCM)
The HHCM makes use of both PoW and PoS, using parallel computing to adopt a suitable consensus mechanism in different layers so it can group nodes and attain a satisfactory balance of efficacy, security, scale and other aspects.
The DCRM allows different digital assets to interact on the Fusion Platform. As a result, the CSC (Crypto-financial smart contract) has the ability to apply functions with a higher degree of complexity such as multi-role, multi-token and separation of usufructs.
Multi-role is a smart contract’s ability to support multiple different account types and simultaneously define the interactions between various users and various smart contracts.
Multi-token involves the simultaneous definition of the relationship between multiple different digital assets by a smart contract, after the assets have been mapped to FUSION through the Lock-in process.
Separation of usufructs means that the usufructs and the proprietorships of digital assets can be separated. Traditional smart contracts can only transfer tokens from one party to another as a whole, not allowing one party to get ownership of the digital asset while the other party obtains the usufruct of the digital asset, meaning that the ownership and the usufruct are inseparable. On the other hand, a cryptofinancial smart contract easily defines more than two user accounts or contractual accounts in one contract, and therefore it can define accounts of ownership and make financial transactions independently.
Use cases for Fusion Smart contracts
FUSION smart contracts can be used as a trust system for certain financial contracts between parties. The smart contract can be tailored while making the agreement, but once the contract is settled, its content cannot be modified. They can be used, for example, to legalize a loan agreement between a customer and a bank.
With the FUSION smart contract, the financial institution that issues the loan does not need to rely on authorities or the borrower when it signs the agreement. If the borrower does not pay back his credit, the financial institution will get custody of the house automatically (as specified in the agreement).
BitSE, the company behind the Fusion Project, was founded in 2013 by Dejun Qian, being also responsible for the creation of QTUM and VeChain. QTUM and VeChain are both blockchain foundations which developed into independent ventures.
FUSION’s core team is comprised of 22 full-time team members, 14 of them having expertise in various technological fields.
Dejun Qian is the CEO and Founder of BitSE, and is also the creator of Qtum and Vechain. He was previously a branch general manager at IBM. He received a Bachelor in computer science at Fudan University.
Dr. Jiangang Wu is in charge of Foundation Development, holding a PhD in financial mathematics and engineering, Shanghai University of Finance and Economics. He also works as a researcher at the China Europe International Business School, and a lecturer at the Management School of the Shanghai University.
Handling Foundation Communication is Noam Cohen, who was formerly a VP of marketing and business development at Orbotech. He has more than 15 years of experience in marketing for numerous organizations from the tech industry. He holds a Bachelor’s degree in Electronic Engineering from the Technion (Haifa, Israel) and MBA from INSEAD.
About the FSN token
The native token of the Fusion platform, FSN, will be used in paying network fees. Smart contracts require FSN in order for them to be executed, much like how ETH is used in the Ethereum network.
At the moment, Fusion is priced at $5.43 USD, having a market cap over $161,063,619 USD and a circulating supply of 29,684,331 from a total of 57,344,000 tokens.
Where to Store FSN
The FSN token is ERC-20, so any ERC-20 compatible wallet will be able to store FSN.
Where to Buy FSN
Fusion (FSN) has a short history in the cryptocurrency market, which does not allow us to make predictions in the long term. Fusion cryptocurrency will have its Fusion mainnet launch before 30th June. We can expect a small increase in price due to this.
At the moment we can see that the price has been growing in terms of USD dollars and BTC. Back in March, it was traded around $1.6 and it reached $9.6 in May, an important price increase in a very short time.
It will be important to follow how the market will keep in the next months to understand which are the long term resistance and support levels in which this cryptocurrency operates.
FUSION is a project that aims to facilitate the transaction process between digital assets in the crypto ecosystem, serving as the infrastructure for the Internet of Values. The market demand for the IoV is big, and, because of that, the demand for FSN tokens will also increase.
Fusion Contact and Additional Information:
- Telegram https://t.me/FUSIONFoundation
- Github https://github.com/FUSIONFoundation
- Twitter https://twitter.com/FUSIONProtocol
- Reddit https://www.reddit.com/r/FusionFoundation/
- Medium https://medium.com/@fusionprotocol
- Facebook https://www.facebook.com/FUSIONProtocol
- Linkedin https://www.linkedin.com/company/fusion-foundation/
- Bitcoin talk https://bitcointalk.org/index.php?topic=2789984.new#new