This Post is about "Internet of Values"
and a Company, Fusion
Internet of Values.
The Internet of Values is a newly coined term that defines the ability to instantly transfer value the same way that we are able to instantly transmit data and information through the Internet. The application of "Internet of Values" goes beyond traditional financial transactions. Every digital asset, token and cryptocurrency has a certain value as determined by the market.
The Internet of Values will enable people to manage values as if they are information, and the core function of the Internet of Values is the communication of values.
the Internet of Values, compared with the Internet of Information, is still in the very early stages and it has bottlenecks in interoperability, scalability, and usability.
To achieve this function, the Internet of Values needs to make progress in this three areas.
The existing solutions for the exchange of tokens, are still various cryptocurrency exchange (centralized exchanges) with fee and intermediaries.
Of the above three types of bottlenecks, interoperability is the most urgent and by enhancing interoperability, we can transfer values between different blockchains, program smart contracts with different tokens, and make update scalability more easily. Usability, however, is a long-term basic task, while interoperability and scalability, which have greatly hindered the development of the Internet of Values, are in need of a short-term solution and have become the two most urgent bottlenecks to be solved.
Cryptofinance is now difficult to interoperate through crosschains, cross-organizations, and cross-datasources, because cross-chain communication currently is extremely difficult.
Currently there are too many tokens and in a early future will be more, but each token can only move freely on its own ecosystem of wallet. Each blockchain ecosystems esta by its own. The Internet of Values is far from being truly interoperable.
Scalability Any blockchain is isolated from other blockchain, making impossible multi currency exchanges. Barely the Internet of Values is just beginning to expand itself by tokenizing various values as tokens and mapping various scenarios’ transactions logic as smart contracts. Due to limited interoperability, the scalability of the Internet of Values is greatly affected. It is difficult to map the actual application scenarios involving multiple currencies, multiple organizations and multiple data sources to a blockchain to form a distributed solution, which hinders the migration of off-chain values to the Internet of Values.
It is still very difficult for a lot of off-chain values and transaction scenarios to be mapped on blockchains. All financial activities on the Internet of Values as Cryptofinance. Fusion create a a value transfer infrastructure based on various tokens.
FUSION can convert values across various blockchains and can fulfill almost all the functionality of traditional finance, but in a distributed and more efficient manner, with substantial cost savings.
Usability. It requires continuous efforts in hardware performance, algorithms, consensus mechanisms, cryptography and other aspects to improve the usability. It is a long path. The value internet requires computing power, as well as terms of standardization: platformization, functional modularity, application ecology, interoperability and anti hacking attacks and other aspects.
What is Fusion
In simple words, Fusion was designed to establish a public and inclusive cryptofinance platform capable of overcome the bottlenecks of interoperability, usability and scalability, bring us new financial functions, because FUSION will also provide interfaces for centralized organizations and off-chain data sources.
Fusion is an inclusive public blockchain that provides the infrastructure and architecture for fully fledged financial functions on the blockchain.
Fusion is a Cryptofinance Platform that provide complete financial functions which enable the Era of ‘Internet of Value’.
FUSION is opening a new era of cryptofinance for the Internet of Values. By cooperating with financial institutions, cryptocurrency companies, 3rd party app developers, academia and the broader cryptocurrency community, FUSION is building a broad finance ecosystem on the blockchain.
Inclusive. A real inclusive platform, everyone can enter, centralized or decentralized organizationes, blockchain communities, Dapp developers or individuals, It Thanks to The Fusion Protocol, with provides APIs to enable different cryptocurrency tokens, off-chain values and data-sources to be mapped onto the FUSION blockchain. It integrates the cryptocurrencies that exist right now and can be integrate into future cryptocurrencies.
Interoperable. Fusion created a system were can convert values across various blockchains , it meaning a value transfer infrastructure based on various tokens. Fusion plataform can handle all the functionality of traditional finance with substantial cost savings, even with more efficient
Intelligent. Fusion make “smart” contract thanks to The calling List, an interoperability solution and functional scalability, providing the architecture for complex financial smart contracts on the blockchain..
After the smart contract is released, the storage of the definition section is stored on the blockchain, which is in line with the existing smart contracts. The description part will be combined with the trigger conditions of all smart contracts in the current blockchain to form a calling list, which is stored in the block for the whole network to access.
In the calling list, each row of records corresponds to a smart contract. Each record includes, in addition to the content contained in the description, an index address corresponding to the stored smart contract.
Smart contracts can nest with one another to express complex financial logic and form financial applications that are not possible for traditional finance.
We define the on-chain financial activities on the Internet of Values and their related off-chain financial activities as cryptofinance.
FUSION is highly scalable. By using a Turing-complete virtual machine, it
opens a window for society to realize cryptofinance across different blockchains and
tokens, creating many possibilities that were previously unimaginable.
Independent.Simple, the Fusion publicBlockchain is absolutely independent from third party interference.
There will be various technical and organizational features that differentiate Fusion from other projects. Three examples are:
Combined PoS and PoW consensus:
Using a hybrid consensus of proof-of-work (PoW) and proof-of-stake (PoS) to achieve a balance security, efficiency, scalability and other aspects
Off-chain data integration:
Fusion architecture will include the ability for smart contracts to react to and transact with off-chain data – Something currently not possible with existing smart contracts technology. This will allow implementation of a fuller and broader scope of financial functions.
Foundation Intelligence:
The Fusion Foundation will be guided, advised and supported by a team of very high profile experts with extensive background in the financial industries, on matters of strategy, industry relations, cooperations etc
The best way to explain how it works and what the benefits of the Fusion ecosystem are is through real-life examples applied to crypto-finances. We will see three cases of uses of the operation of the Fusion smart contracts
Use case 1: The Risk-Free Token Loan
First, smart contracts are code that ensures automated execution of a transaction serving.
Fusion architecture enables cross token contracts, it allowing a person loan or borrow in any token and not be concerned with trust issues, because the fusion based smart contract will govern and execute a risk-free loan the contract will define the amounts interest rate and time of the loan letting both parties inspect and agree to the terms in advance.
Use case 2: Risk-Free Contract Market
Fusion blockchain will enable a market of peer traded financial contracts, opening new possibilities for crypto finance.
Fusion based smart contracts can be used similar to bank checks but risk free thanks to the smart contract code create a guarantee of future payment even though no bank is involded. Are valid contracts.
watch the video below for more details.
In this video, Alice wants to sell her house for 100 Bitcoins
First, let's define the players
Alice transfer H1 (Her house) to MSC and also Bob his 30 bitcoin.
Carl and other investors will send a total amount of 70 bitcoin to MSC.
Token Loan Company will send 70 bitcoin to MSC to guarantee for their investment.
When all is done, MSC send 100 Bitcoin to alice, then bob become the owner of the house H1, but he must complete the payment monthly, for 120 months. MSC have the rights and conditions of reselling H1 if bob fails.
watch the video below for more details.
Fusion Token (FSN)
Fusion is presented as a real alternative to face one of the biggest challenges of the Blockchain, the interoperability between eco systems.
The 3 cases shown in this Post give us 3 solid options about the utility of this project.
Ask for a loan or give a borrow without having to worry about the trust, added to the fact of being able to interact with any token (other ecosystem) in a simple way, even without requiring great knowledge about cryptocurrencies.
Improves conventional financial systems, such as providing an alternative to conventional bank checks
It offers interesting alternatives such as the exchange of values. Very interesting the option of selling a property without commissions, delays and in a risk-free environment.
In summary, the fact of being able to exchange between token of different blockchain enables a world of possibilities .
The Team
This entry was create to participate in the @OriginalWorks sponsored writing contest - Fusion
If you want know more about this fantastic project built on the Blockchain, check their:
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