Image Source : Fusion Facebook
In reality, for every challenge solved, another challenge emanates, sometimes lesser, sometimes greater. Although the solutions selected are ones that leaves a lesser challenges, some greater "unforseen" challenges sip through the cracks of our conception and design.
The internet solved a whole lot of problems in the world by metamorphosing it into a global village through improving communication, allowing for faster transfer of information in whatever format and as a result enabled the ability to establish larger corporations and organizations. However it left hanging a seemingly greater challenge of trust and value transfer, therefore it was only right to dub it, "the Internet of Things" (IoT).
The blockchain took the internet some steps further, actually it caused the internet to take a giant leap. Revolutionizing the internet, the once missing features of value transfer and trust were filled in innovatively that this technology is not just called the "Trust Machine", it is also commonly known as "the Internet of Value" (IoV).
Larger and smarter corporations were formed as a result, value (Coins and tokens) seamlessly transferred, finances handled better (Cryptofinance) and through tokenization, different sectors of the economy came on board or rather "on-chain" to harness its power that is still being unlocked. But like an infant, the blockchain technology still crawls.
It's not getting any younger though (about 9 years old now - since bitcoin inception by Satoshi Nakamoto in 2009) and it's still not walking independently yet because some factors - bottlenecks - as the whitepaper puts it are millitating against its doing so. These bottlenecks include; interoperability, scalability and usability.But what will cause the next giant stride on the blockchain, as this technology did on the internet?
I know this is what you ask...馃槒
Let me introduce to you...Fusion which brings to you and I, a new era Cryptofinance in the IoV.馃
Image Source : Fusion Facebook
Fusion is a value transfer infrastructure based on tokens. It is a platform-level public blockchain which allows different tokens to be mapped on it and multi-token smart contracts created and executed. By this innovative solution, the cryptofinance platform, through handling the control rights of tokens (private keys) using its distributed nodes, enhances the interactions between all tokens, consequently smashing the bottlenecks of interoperability and scalability.
Fusion is an inclusive finance platform because it is designed to include and cover everything as regards cryptofinance. I may not have mentioned yet, but Fusion stretches out too into the surrounding services of cryptofinances which often involves centralized organizations such as accounting firms, law firms e.t.c. and other cryptocommunities such as college, technical, users, Investment communities e.t.c
This bridges the gap between these two kinds of different but dependent organizations and speeds the growth of the communities.
Off-chain data resources and transactions are not left out in all the cryptofinance management mix as Fusion also allows these data too to be mapped on to the blockchain. The essence of this is to make smart contracts smarter and "real-istic".
The Fusion blockchain powerfully combines or rather fuses cross-platform (cross-data, cross-organization and cross-chain) compatibility and feasibility with the distributiveness, disintermediary and low barrier entry of the blockchain, to unleash more value power as we will discuss below and this is in fact why it is called Fusion (like nuclear fusion i.e hydrogen atomic bomb).
Cross-chain communications has not been reliable hitherto, with the side chain being the best attempt so far. Fusion provides the necessary technology to cross these hurdles and they include Distributed Control Rights Management (DCRM) and Hierarchical Hybrid Consensus Management (HHCM) and Cryptofinancial Smart Contracts.
| Fusion HHCM | Fusion DCRM |
|---|---|
Image Source : Fusion whitepaper
The DCRM and HHCM together, enhances the security of the Fusion system by executing randomness in blocks generated by the node, achieves an energy efficient and decentralized system and finally, permits a reduced computational power and storage capacity. The multi-trigger smart contracts on the other hand allows Fusion to apply the benefits of the DCRM and the HHCM to a wider range of financial services effectively.
The cryptospace hitherto, only had pseudo-assets. Tokens or coins neither had the ability to generate wealth while being held i.e without being used up nor could they be used collateral to collect grants, mortgages or loans, it could only be traded. Being able to convert value across blockchains, Fusion brings the full functionalities of the traditional financial system to the blockchain and unlocks the real asset nature of cryptoassets.
Fusion being a non-profit, blockchain community driven project envelopes itself by a host of communities to speedily achieve this new era of the IoV. Sorrounding this blockchain with relevant off-chain communities and activities and providing an interface for them to make an entry and possibly reward them too, ushers us into the new era of cryptofinance speedily and "scalably" by the development of new era cryptofinance tools or Dapps.
Binance, the world's largest cryptocurrency exchange has three(3) major trading pairs; Altcoins/BTC, BTC & Other Altcoins/ETH and BTC & ETH(Other Altcoins)/USDT. For cryptoholders or traders to get from one altcoin to another, they must go through either Ethereum, Bitcoin or USDT. You must not fail to realize that the conversion to anyone of these incurs some value losses and unfortunately, this is not the cryptian's final destination. Hence, the cryptian must incur some additional losses to get to his destination, the desired token or coin.
Fusion makes all of this unnecessary by allowing tokens mapped onto its blockchain interact directly, therefore eliminating the undesired losses and further lowering the mobility barriers associated with cryptofinances between chains and off-chains.
Image Source
Fusion is like a cement that binds the fragmented "blockosphere" together through this cross-chain interoperability and also through the multi-trigger smart contracts, makes the blockosphere more flexible than ever not only in exchange of tokens between multi-chain parties but also in defining more complex relationships between digital assets in terms space and time.
On receiving a short-time cryptocurrency signal from one of his telegram-signal groups about VEN going up in price, he maps his STEEM to the Fusion blockchain by sending it to his Fusion address and directly interacts and converts to VEN. The price rise of VEN unfortunately delays but he is sure that it will definitely rise because the signal group has never failed him before.
While waiting for this VEN price rise, his impatient cryptofinance Dapp developer from one of the technical communities fostered by Fusiongives him a call and asks for an immediate payment for the Job almost done in BTC. Mr Smart being a smart man didn't want to lose out on the potential price rise of VEN, he therefore decides to use his acquired VEN as a collateral to acquire some BTC. Fusion with its full cryptofinance functionalities makes this seamless for him and he pays the Dapp developer.
Some hours later, the predicted prise rise happens and his VEN gains over 30% in value. Happily he repays the loan taken from Fusion and collects his VEN more valuable than he left it.
THE END.馃馃槀
For sustainability of blockchain ecosystem, tokens are the incentives that motivates community members to employ their collaborative effort to develop it. FSN is the token design for this blockchain, with exactly 81.92 million in supply. It is aimed at building the ecosystem and to incentivize miners. FSN is to Fusion as GAS is to Ethereum.
Image Source : Fusion whitepaper
Dejun Qian, the CEO and founder of Fusion teams up with other blockchain experts and veterans to bring this project to fruition. Dejun is also the founder of VeChain cryptocurrency. For more information about the team, click here.
Here's a video of Dejun Qian talking about Fusion;
fusion2018.
This is an entry for an Originalworks Contest.
THANKS;
CED.
