Computers & Internet of Information

When computers were invented, they were a versatile tool to store and process information, run several programs and softwares, make long and complicated calculations etc. Every office and home was equipped with computers, but communication between any two computers was almost impossible. Then the Internet was invented. “Internet of Information” made it possible to exchange emails, text, images, audio,video and other data between all internet connected devices.

Blockchains and ...?

Similarly, today a revolutionary system called Blockchain has been invented. Today we have hundreds of blockchains working independent of each other. Every blockchain serves some unique need and hence has got some inherent value. Unfortunately, these blockchains can’t communicate with each other. The limitation to inter-operability is a bottleneck in transacting “value” among blockchains.

Cross-chain transactions and Inter-operability

However, some projects have made effort for cross-chain operations through pegging tokens or through sidechains or using cross-chain atomic swaps. But problems of security, scalability and speed remain to be addressed. The other option to move value across chains is to move tokens with the help of crypto-exchanges which is expensive, slow and not without risk.

So here comes a revolutionary project which signals a new era of Internet of Value. This project FUSION is the brain child of serial Chinese blockchain entrepreneur Mr. DJ Qian, famed for creating successful projects like BitSE, VeChain & Qtum. He is ushering in a new era, termed “Internet of Value”, where Value of any blockchain asset, off chain asset or any data source can be easily moved and exchanged between users. As we move data over internet in form of bits, we should be able to move value across all blockchains.

"Internet of Value" can revolutionise all blockchains

FUSION is just spearheading this Internet of Value movement by opening a new era of cryptofinance with building a broad finance ecosystem on the blockchain. Inclusiveness of Fusion is the most differentiating technology. Beside different cryptocurrency tokens, the Fusion protocol also enables mapping of off-chain values and data sources on to Fusion blockchain using API aggregators. Thus cross-chain, cross-organization and cross-datasource inputs can be mapped onto FUSION, achieving interoperability never seen before on the blockchain.

Let's see some of the key features and innovations FUSION is proposing:

Distributed Control Right Management (DCRM)

Fusion blockchain has a proprietory Distributed Control Right Management (DCRM) security mechanism which securely protects all locked-in cryptocurrency assets on the FUSION blockchain. Private Key mapping is distributed and sharded (a Key is broken into several parts and distributed) so that no single node has complete Key. This ensures that nobody can access the complete private key, making sure that no single node can obtain the control of digital assets.

The Hierarchical Hybrid Consensus Mechanism (HHCM)

Fusion uses a hybrid mechanism to take advantage of both the popular Proof of Work (PoW) and Proof of Stake (PoS) mining and consensus mechanism by utilizing parallel computing to group nodes to achieve a good balance of efficiency and safety.

Multiple Triggering Mechanism

This is a unique innovation of The Fusion Foundation. Other blockchains have only transaction triggering mechanism where as in addition to it, Fusion will have time and event based triggers to its smart contract. This is very critical to offer real world equivalent financial system. It can offer a Time Lock feature and all this can split up a unit of value into different parameters which can be separately traded and transacted. The value can be split into several segments of time like short-term, mid-term or long term etc. This can enable tradable futures, risk-free loans, customizable time-based value contracts and many more possibilities.

Future Proof

Fusion is compatible with all existing blockchains and it will also be compatible with blockchains that will be launched in future. Since it is based on mapping of users’ private keys on to FUSION blockchain under the fail-safe security system, it is bound to be compatible with all bockchain and off-chain tokens.

Short Address Notation

New and old, everyone who deals with cryptocurrency today is overwhelmed with the length of random alpha-numeric string used as his / her wallet address. E.g. Bitcoin wallets typically has about 33-34 alpha-numeric characters in it whereas Ethereum wallets have 42 characters. No one can memorize such a long string. BTS, Steem and EOS has tried to solve this problem by assigning a username to a wallet. FUSION is mapping a smaller number string that can be easily memorized and recognized by the user like other traditionally used bank, phone and I.D. numbers. However, the number of characters in the FUSION address will gradually increase but they will be still easier to remember than traditional alpha-numeric string. Of course, Fusion users can use both short as well as long form of the address as per their desire. Both will work and will be mapped to the same wallet.

Fusion will allow development of several dApps on top of its blockchain to enable delivery of wide array of financial products and tools. Check these videos to get an idea of some of the many uses Fusion blockchain will make possible:

Risk-free Token Loan

Risk-free Contracts Market

Mortgage Smart Contract

This open source public blockchain project token is listed as FSN (Fusion). It has a total supply of only 57,344,000 tokens and has a current market valuation of over $162 million. With a current token price of about $5.50 its value has grown several times since its ICO in February, 2018.
I’m very excited about this project. Recently, FUSION announced that USD12.28 billion worth of digital assets have been locked-in on its revolutionary cryptofinancial platform. According to Nasdaq, this is one of the biggest commercial deals secured by a financial blockchain company to date. This is under FUSION’s “LILO” – or Lock In / Lock Out feature where users and holders of crypto assets or of digitized real-world assets will be able to use this feature in order to gain access to the huge pool of aggregated liquidity on the FUSION blockchain.

All these are not mere talks but a very competent and efficient team is working hard to realize this dream. On May, 31, 2018 the FUSION team was able to release its Testnet which has several key features already active on it. The launch of Mainnet is expected soon.

What’s fascinating is that FSN tokens that are in circulation at present will be effortlessly swapped (with FUSION’s “Easy Swap” feature), with native FSN tokens on FUSION Mainnet launch. I’m eagerly waiting for that revolutionary day. Alas, if this technology were in place before, EOS token swap wouldn’t have been a nightmare.

fusion2018

N.B.:

This post is an entry to a Fusion sponsored @OriginalWorks Writing Contest
For more details about the project, please refer to FUSION website