INTRODUCTION

In the world of today, technology and the Internet has made it possible for people to transfer ideas, graphics, images, videos, et cetera among themselves. This arose as a need for more intimate communications across distances grew, innovations were laid out which brought about the easy ways of transferring data across social networks and various applications. Later on, Internet Of Things(IoT) was established to enable transfer of data over a network without the human-to-human or human-to-computer interactions. IoT is simply a concept of connecting devices, gadgets, washing machines, even the parts of these machines, to the internet triggered by a two-way switch. These transfers are made possible as each of these devices are tagged with Unique Identifier(UID), which is a alphanumeric string that is associate with a single entity within a system. UIDs are just like URLs that leads people to a particular website or BVN(Bank Verification Number) that leads a user to a particular bank account. So these devices or anything with UID can actually carry out transfers in any direction without human supervision when the need arises. These transfers basically, are not fast, instantaneous or very reliable. And all these transfers shows the need of interactions and cooperation.
Meanwhile, there has been constant growth in the need of and reliable transfers across borders. This escalated as there has been advancement in the financial facet of the world economy and the cryptofinance of the cryptocurrency world as well. Across the world, a single payment is usually cost expensive, not fast and unreliable. There is a record of $180 trillion worth of cross border payments each year with a combined cost of more than $17 trillion a year with a daily transaction error rate of at least 5% at an average cost of $42 in the United States alone.
Fortunately, Internet of Value(IoV) or value for the IoT has been created. The IoV doesn’t only enables one to transact money across distances but to exchange assets of values to another person. A value transaction across the IoV can happen instantaneously just like how people share files, graphics or any type of media across the internet. These values ranges from stocks to votes, to intellectual property, to music, etc without involving any third party intermediary such as bank or service like Uber, AIRBnB, etc. It is however pertinent to note that, the IoV has not solve problems like errors in transactions and the heavily attributed cost of transfers or inaccurate transfer of values across wallets in cryptofinance and utmostly, the absence of interoperability, usability and scalability in the blockchain. However, we can see that overcoming usability is a gradual and long process, so tackling usability is still ongoing around the world.
Blockchain technology enables one to completely carry out transactions of assets and values directly without middlemen or intermediaries. These transactions no matter how fast and are not deprived of deficiencies. They are heavily barred by interoperability and my scalability of the blockchain. But what if there could be a platform that dissolved the problem of scalability and interoperability associated with the cryptofinance facet of the cryptocurrency world? Making the ecosystem better? Well, now that blockchain Fusion

“Fusion? I’ve heard of Fusion but what’s Fusion all about and how can it improve the facet of cryptofinance? ”

Fusion is a public blockchain that provides infrastructures and instruments for financial activities for today and the next generation blockchain users. When people talk about Fusion they easily attribute it uniqueness only to it adeptness in solving the barriers of interoperability and scalability of cryptofinance but fail to recognize that Fusion is building a crypto-financial platform that will serve the today generation and the next.
Fusion is a cross chain platform that eliminates the middleman -bank- feature on the blockchain technology by building an infrastructure that financial instruments and services on the internet are built on, making it really easy for anybody to pick up his phone and find the best and right financial services through Fusion. It is however pertinent to know that, Fusion is not coming to upgrade the already cracked financial system of the blockchain but to change it and make it better.
Normally, people evaluate a platform by the number of ICOs running on it but in the future, Fusion will solve the problem of Interoperability and scalability by allowing plenty tokens to run on one platform. Fusion is creating an inclusive system that helps to unite and connect different tokens more efficiently. Fusion powers a a crypto wallet that is unique to Fusion, and eliminates the limitation of token wallets trading between tokens that are based on the same technology. This enables multiple token smart contracts, data support that is not chained, parallel computing and various triggering mechanism. The smart contracts can be triggered by not only transactions but also time and event which is a unique feature of Fusion.

"Okay, but how will these mapchains and transactions solve the problem of interoperability?"

The Fusion platforms boasts of various tools and technologies that improve the interoperability, intelligence, innovation and independence of the platform.
The interoperability problem on fusion is eliminates by mapping multiple tokens on the fusion blockchain, enabling separation of ownership and safety of multiple token smart contracts and also the triggering of these smart contracts by time, event and of course, transaction. These tools and technologies are:

The DCRM(Distributed Control Rights Management)

This is a layer that ensures the protection of all locked-in cryptocurrencies assets on the Fusion blockchain. This is enabled by Sharding of the already distributed private key, ensuring that no individual node has access to the complete keys thereby removing monopoly of controlling the digital assets.

The MTM(Multiple Triggering Mechanism)

This makes use of the traditional transaction triggering system but coupled with the Time and Event triggers too. This improvement is needed to meet the complex state of financial smart contracts.

The HHCM(Hierarchical Hybrid Consensus Mechanism)

The HHCM used the PoW and PoS and utilizes parralel computing to the group nodes, achieving the needed balance in efficiency and safety of assets.

"But the IoV is already here, does it mean Fusion won’t help move it forward?"

Fusion is cooperating third parties developers, financial institutions, cryptocurrency companies, academia and the cryptocurrency world at large to create a wide cryptofinance system on the blockchain which will definitely improve the IoV. Fusion is eliminating the barriers and bottlenecks in cryptofinance, thereby ushering IoV into a whole new world of possibilities.
Fusion works with various technologies to better the blockchain, such as it self developed token, the Fusion Token(FSN), features like Time lock, Easy swap and the Short Address Notation.

Fusion Token(FSN): This is a Fusion powered token that is used as a support for smart contracts and is used in transferring value on the blockchain. FSN is the fuel that supports financial smart contracts on fusion. It is also used as a function of determination of nodes of various events.

Easy Swap: This is the ability to swap Ethereum based tokens mapped onto the Ethereum platform for Fusion tokens.

Short Address Notation(SAN): These are like the UIDs of the IoT or URL or the long addresses of Ethereum and bitcoin wallets. But unlike others, the SAN is short and can be memorize and these longer addresses can be linked to it to function as one.

Time Lock: We all know that time is a value and Fusion realizes that too. Therefore, it creates a feature called Time Lock that enables a token to be split into two parts. For instance, one can decide to split the ownership of his/her token into two different periods of time, thereby realizing the value of assets across time.

"Then what can I achieve using a cross chain financial platform like Fusion?"

Fusion offers the best of things a cross chain financial platform can afford. So let’s use Fusion as an example.
•Human cooperation has been the basic tool for human development from time immemorial. Fusion fuses currencies together through the platform, removing the limits of cryptofinance infused by the old system and opening the world to a new era of development and amazing possiblities through human cooperation.
•There is a new phase of better values of assets fusion is introducing. With the ease of cross transfers and time lock and smart contracts features, one can easily transfers assets between blockchains in a cheaper way, more efficient and the value of assets transferred at the end is retainer instead of depreciating.
•Time is a value everybody values. Delays in transfers between blockchains have being barring more businesses between blockchains. Here, Fusion removes the time wasting factor and introduces speed as all blockchains will work on one platform.

"But then, I know why I should use a cross chain financial platform like Fusion.. Why do I also need a traditional financial tools operated by a bank in a decentralized manner like this between cross chain users? "

Fusion enables these tools because they help to ensure the interoperability and scalability of the blockchain and ensure the integrity of the smart contracts.
Firstly, I’d like to state that there is an elimination of third parties or any intermediaries yet retaining the trust factor and increasing efficiency, speed and cheaper transactions.
Moreover, there is an easy transfer of value therefore bridging the lacuna between the centralized and decentralized market and easy merging of wallet addresses.
Finally and most importantly, the triggering mechanisms of the smart contracts enables transactions to be carried out in due time and executed correctly.

Let's see some use cases

In the first case, one can get and give loans with no risk. The risks are eliminated from both sides.

The second scenario, one can involve in smart contracts with no risks as the fear of contract breech are totally eliminated.

Lastly, statutory properties owners can easily trade their houses for a fixed value. There is no risk as the investors get a return of their investments if the contract is breeched while the buyer is provided is mortgage plan of the house and if and when he completes the payment, the house becomes his.
This is the zenith of the Fusion based smart contracts -Introductiom of trust and total elimination of risks.

Watch video below to get a visual explanation.

I. Risk Free Token Loan

II. Risk Free Token Contracts

III. Mortgage Smart Contracts

SYNOPSIS

Smartphones replaced cellphones.

Email replaced postal system.

Computers replaced typewriters.

These technological changes only enlightens the fact that there is a constant need for change as well as there is a constant urge for upgrade. In the blockchain world, this is no different. A financial system has already been in place but lacked the so much needed interchangeability or interoperability and scalability. These issues birth so many problems so as delayed transactions, inappropriate transfer value of assets, inefficiency, lack of trust and integrity in the system, third parties hassles and the list goes on and on.
Fusion realized this and came in to bridge these problems by replacing the old financial system and propelling the Internet of Values forward. With the improved triggering mechanisms, time lock features, Short Address Notation, Fusion gives a new look to the world of cryptofinance. Ushering the internet of into a new phase of trust and giving a new definition to transferrable values(assets), Fusion is the new face of cryptofinance.

Here's what the CEO and founder Dejun Qian, says about Fusion here.

Dejun Qian is the CEO and Founder of Fusion. He also founded VeChain.

Here's the Fusion team

For more information, you can check the original post by @originalworks via https://steemit.com/crypto/@originalworks/370-steem-60-bonuses-sponsored-writing-contest-fusion

Or click on any of these links

Fusion Website
Fusion Whitepaper
Fusion Telegram
Fusion Twitter
Fusion Reddit
Fusion LinkedIn
Fusion Facebook
Fusion GitHub
Fusion Videos Page
Fusion BitCoin Talk
Fusion Medium

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