Fusion- Changing the World of Cryptofinance

Since the existence of the internet, there has truly been a great change in our lives. It ate into every aspect from music to sports to shopping and many others and then later came down to finance.

The internet was not really able to make much noise when it came to finance as like other aspect where the internet reshaped them alot big time. Internet-finance was not really that assisted because it did not do much other than helping financial institutions reach their customers.

Interaction of values between organizations relied mainly on paper contracts that is inefficient and costly

Even with the existence of the internet, we had no choice than to trust these institutions and put them in charge of our wealth.

Existence of Blockchain

Blockchain as it stands now has already created lots of buzz in financial services unlike anything else in recent memory.

Why has it captured so much attention?

Before the existence of blockchain, there have been a problem of trust between organizations and also resources like power, capital, talents and data are said to be concentrated in the hands of few leaving the remaining larger portion out of the picture. We all know that leaving our resources in the hands of these few might obviously not be the best of ideas because when anything happens then we all are ruined.

Truly blockchain has brought us several steps closer to a higher level of civilization and the blockchain technology would be one that will bring fundamental changes to the traditional finance. With blockchain, conflicts, brutal competition between organization, years of war all as arising as a result of trust is put to an end.

"Blockchain are distributed ledgers that works based on peer-to-peer distributed database that records and confirms the ownership and transfer of a digital asset"

This means i as a stranger could trade without the word "trust" in the picture and saving the stress of going through a third party that is transactions are automated through smart contracts.

Blockchain is truly changing the way we cooperate as individuals

From the internet of information to the internet of value

Over the years, we have had the internet of information but now with the existence of blockchain we got the internet of value. The implicit technology of blockchains might actually represent a second era of the internet because blockchains does enable the peer-to-peer exchange of assets which is something that has always been left out from the information publishing nature of today’s web-dominated internet.

Lets take for example if i am to send you an information, am obviously sending you the information yes but i still have a copy of it be it a mail or a document or a file

The internet of information has been awesome but yet still it had flaws. The web built based on an interlinked page model and publishing language (HTML), was never in any way assigned to handling exchanges that had to do with values. Lets look at it from this way, anyone transferring money is not really moving value directly but instead it is moved through a medium ( be it a bank, PayPal, Western Union) that passes the value.

The internet of information could not store, move, transact value without a powerful intermediary and this what blockchain wants to solve by giving us an internet of value

Blockchain does not dispute the fact that information must be dissemination but it provides a distributed internet of value that would enable us establish trust and store assets, communicate them and use them in carrying out transactions on a global basis without the presence of a medium.

So if i were to send money on blockchain, i do not need to go through a medium to pass my value.

Note the above was just an illustration. In Blockchain, we do not send money instead coins and tokens.

Internet of Values still had several seas to cross

The Internet of Value was built on three key areas but still the values of the Internet needed to make progress in these areas. The three areas included

1. Interoperability
2. ‎Scalability and
3. ‎Usability
   

Interoperability

Blockchain interoperability have ever since appeared to be non existent. Since the internet of information was able to transfer and program texts, pictures, audio and video as a unified bit information, it was expected that the internet of value will follow suit.

But no! It didnt.
Moving values across chains tends to be very tedious and expensive.

Why do i say it is tedious?

If i am to move my value across chains. firstly i need to move my tokens into a centralized exchange and then i still have to trade on that same centralized exchange's in-house legder. After that being done, i will now have to withdraw the new asset on its chain.
A vivid example is exchanging a token developed in ERC-20 for a token powered by NEO.

Seeing how complex it might be, i am always discouraged.

Scalability

Just as the internet of information
the Internet of Information expanded itself by encoding various information as bits and programming various scenarios’ communication logic as applications, the Internet of Values tok same step and began tokenizing various values as tokens and mapping various scenarios’ transactions logic as
Smart contract.
The problem of limited interoperability has also affected scalability.

The thing is as the number of blockchain transactions increases remembering blockchains are growing rapidly everyday in size, so transaction becomes slow. It is so due to the fact that the number of transactions a blockchain can digest never exceeds that of any of the network’s nodes and so this affects also the migration of off-chain values to the Internet of Values.

In essence, For Internet of value to compete with internet of information more they would need to seriously step up their game when it comes to transaction times because people are eager to map their assets on blockchains.

Usability

Still internet of value is not strong enough to support slightly heavy projects.

No doubt that efforts have been made to resolves these problems but still they were not able to completely tackle them.

I introduce to you, FUSION!!!

FUSION

FUSION’s vision is to establish
a platform-level public chain in the cryptofinancial era that as a key infrastructure for
value transfer can connect all kinds of values, provide complete financial functions, communicate diverse communities and tokens, and bridge the centralized and decentralized
organizations to bring the Internet of Values as early as possible.

With fusion, all of the listed problem above could be solved.

Fusion will tend to offer alot using its very own FSN token. It has a cross chain support with which you are able to store and interact with other blockchains using its smart contract.

In solving the problems associated with the areas of Internet of Values, Fusion Fusion has created a public chain that will integrates the cryptocurrencies that exist today and even the ones that will come in future and that will tend to connect both the centralized and decentralized organisation. Its public chain will be help redefine the way we move values across chains and builds relationships between transferring parties and also make the blockchain much more scalable. Scalable by making use of a Turing-complete virtual machine which provides the Private Keys Control Service and the token-issuing protocol, it therefore would aid cryptofinance across different blockchains and organizations, creating many possibilities that were previously unimaginable.

• Interoperatability will be solved by mapping tokens to the FUSION’s public chain by simply putting
their various private keys under the control of FUSION’s distributed nodes. So therefore token can now be easily move across chains.
• Also for that of scalability, asset and data are put under management of centralized management which would provide interfaces of tokenization for the off-chain assets and data.
• ‎While for that of usability, making full use of distributed nodes will increase its usability

In relation to the cross-chain support of the FUSION blockchain, it brings revolutionary tools to the table.

The Distributed Control Rights Management (DCRM)

This process involves FUSION been handed over the control of private keys of digital assets from individuals or centralized organizations. So therefore FUSION will use DCRM to control the private keys. This done to prevent attackers from obtaining the control of the private key via conquering one node.

The Hierarchical Hybrid Consensus Mechanism (HHCM)

The FUSION blockchain takes the advantages of both PoW and PoS protocols for maintaining consensus across the FUSION blockchain.

The Multiple Triggering Mechanism (MTM)

These triggering modes are abstracted from various financial scenarios and are said to meet various requirements of smart contracts in complex cryptofinancial applications thereby making distributed financial services and complex DApps possible.

Fusion Use Case

As a blogger here on steemit, i created a very mind blowing post and decided to post it. After two days of posting it, i got about 10bd from the post. Then i stumbled on samuel, who sells wrist watches and just decided to take a look at his watches. While looking through them, i saw a pretty one, oh mehn! It was really worth buying but i had no cash on me to buy it. Happily, Samuel deals in Sbd too, so i requested i paid in Sbd (Wrist Watch was worth 5sbd) but i was having none too except for my awaiting payout. I then promised Samuel to come back for it in few days time but Samuel said to me "Sir, this Wrist Watch won't last more than an hour here". Then i had to change plans.

To buy this Wrist Watch i had to initiate a credit purchase smart contract on the FUSION blockchain with Samuel and then i authorized and signed the contract. The contract entailed that if Samuel gives me the Wrist Watch at that very moment he gets two times the normal worth of the Wrist Watch if he waits for extra five days till payout. Then he agreed to it and i got my watch!

Final thought

FUSION is a public blockchain that is
• Inclusive (provides APIs to include different blockchain tokens, different off-chain values and different datasources into one public chain)
• ‎Interoperatable, intelligent(uses smart contract),
• ‎Innovative (through introducing cross-chain, cross-organization and cross-datasource public chain, brings blockchain’s interoperability to a brand new level) and lastly
• ‎Independent (fusion is independent from any third party)

This is an originalwork contest, click here for more info

For more info on FUSION, Click here to visit her website

fusion2018