The Fusion project aims to provide a platform that offers its users an ecosystem for free conversion of digital money without the use of exchange platforms. The project is powered by its inherent cryptocurrency - Fusion coin (FSN). It is supposed to unite existing blockchains and provide their mutual integration with the help of its functionality.
According to the Fusion coin’s whitepaper, the developers of the project are largely concerned with a problem inherent to the blockchain industry - the isolation of the cryptocurrency platforms and the low level of interaction between them. Today, each platform is developed separately from the others, which limits its potential and use.
The Fusion project is focused on the removal of the barriers between various blockchains. The conversion of value between cryptocurrencies became a key problem of the project. In opinion of the developers, this problem can become a basis for further integration of various cryptos.
The core process of the platform’s operation is the storage of the assets on the Fusion’s blockchain. When one has a need to perform payments for services provided by any project, other than Fusion, the user does not need to use the exchange. The only thing necessary to perform a payment is to specify the required amount, the conversion will be done automatically by the platform. The project is mostly based on smart contracts. The Fusion coin platform allows to establish particular settings considering specific currency and a ratio of incoming funds.
For example, one can automatically convert received Bitcoin into 40% ETH 40% of DASH and 20% NEO, the ratio is also configured by the owner of the wallet. Such functionality facilitates the participation in ICO, as well as the active use of several platforms and their tools at the same time.
In order to provide such functions, the Fusion coin team is working on the following technologies:
- Distributed Control Rights Management, distributed storage of private access keys, involves dividing them into parts between several independent nodes, which ensures high reliability of data;
- Atomic Transaction - the analogue of the Lighting Network made to increase the bandwidth of the Fusion coin and to secure instant transaction;
- Hierarchical Hybrid Consensus Mechanism - the hybrid model of consensus that facilitates both PoW (SHA-256) and PoS consensus mechanisms.
- Off-chain data storage that allows users to store the sensible data in a cheaper and more affordable way.
With a help of the presented mechanisms, fusion developers hope to create an ecosystem that links all existing blockchains into one digital field. Such technology will provide not only the promotion of projects, but also prospects for their further development.
The project was founded by Dejun Qian. Charles Poliacof is the current Executive Director and Bret Schlussman is the current Chief Technology Officer. The project has offices in New York, Shanghai, Singapore and South Africa.
Token and ICO
Fusion coin is a ERC-20 standard token. It was issued fully and has a total supply of 81.92 million tokens. There will be no more tokens issued due to the aim of the development team to make the coin non-inflatable.
Fusion (FSN) coin price and market performance online via CoinMarketCap:
The distribution goes as following:
- 10% of all the tokens are provided to the current development team and to the future contributors to the development
- 10% were sold to the angel investors
- 10% are saved to be used for the future funding of cross-blockchain cooperation
- 10% were used to sell on the selected ICO participants
- 25% are allocated to become a foundation for the future funding of volunteer participation in the project’s development
- 5% are held by the foundation in case of specific need
- 30% are allocated in the network as a POW/POS reward fund
The project’s token sale was performed from February 1, 2017 to February 11, 2017. The ICO happened according to the initial plan and ended on February 11, 2017 gathering 42,200,000 USD.
The Fusion coin is minable. However, despite the Payable Staged Network being live at the time of writing this article, there is no trustable information on how to mine the coin.
The coin can be exchanged on the following platforms:
See Also on BitcoinWiki
- Dejun Qian on twitter
- Fusion protocol twitter
- Fusion community twitter
- Fusion official website
- Fusion project on Reddit
- Fusion protocol on Medium