What is Fusion (FSN)?
Fusion (FSN) is a connected ecosystem for financial transactions that was released on February 1, 2018, by the Fusion Foundation. Fusion powers the next wave of financial innovation on the blockchain.
Fusion is built on the public blockchain platform to create smart contracts that can operate on many other available blockchains such as Bitcoin, Ethereum. Through Fusion’s own applications, increase collaboration and data sharing among financial institutions to integrate the values of tokens in different blockchain platforms. Like the API toolkit, there are many other data sources on and off the platform.
FSN is currently running on the Ethereum platform according to the ERC-20 standard.
The role of Fusion
- Staking Rewards
- FSN has not been applied much in Fusion system, but because it is blockchain platform, FSN token will play the role of the blockchain platform after the Mainnet is completed.
- Pay transaction fees on the Fusion network
- Block rewards for miners to support operations and security, stabilize license fees and lending.
Features of FSN
Distributed control management: This is the process of exchanging control of the private keys of digital assets from centralized individuals or organizations to Fusion’s public blockchains.
Decentralized hybrid consensus mechanism: The advantage of PoW and PoS mechanisms is used in parallel by grouping nodes to achieve balance, efficiency and safety for transactions.
The mechanism of activating smart contracts is based on the exchange of ownership of digital assets. There are 3 ways to activate smart contracts:
- Activate by transaction
- Activate by event: When there is a special event, the smart contract will be activated
- Activate by time: Based on time conditions (such as a timeline or period of time) enable the activation of smart contracts.
Utility rights: This is the right to use someone else’s property, meaning that when an investment fund wants to raise capital from an investor, you transfer the right to use that money and the property owner is still you.
Dejun Qian: founder and CEO of Bitse. He used to work as a manager at IBM and graduated with a computer science degree at Hubei University.
John Liu: Former co-founder and product leader at ONEaccess.io (acquired by Visible Alpha). He is a former managing director at Novus Partners, former portfolio manager at Capstone Investment Advisors, Artesian Capital Management and King Street Capital Management. He received MSE and BSE, University of Michigan.
Karim Chaib: is the award winner for the financial system and block chain. CEO at XDLT. He leads DLT and Smart Finance at Avaloq (4 T AUM). Stream Lead Security, Cryptography, Core Banking at Society in general. Technology leaders UBS, CS, IBM, Axis Capital. Engineer MSc, MSP, Prince 2, ICE, Hermes.
Fusion with cryptofinance platform is a public blockchain with the Fusion Foundation as a sponsor of the project, working to create the ecosystem. With the Fusion platform, it is beneficial to all cardholders, does not belong to any single or individual organization and is a platform that encompasses the entire blockchain token community.
This is a currency that is gradually upgrading its features as well as creating a full blockchain technology environment to meet the current financial requirements, so it is a potential and highly profitable currency in the future.
You can check FSN price here.