Fusion Network Project Insight: An Innovative Ecosystem Powering Financial Transactions

This layer-1 blockchain is rapidly growing as more protocols continue to deploy on the Fusion Network.

By
Goon Trades
on
February 22, 2021
Category:
Project Insight

Abstract

The European Central Bank’s 2020 report (dated December) points to the urgent need for cryptocurrency to be introduced into everyday life.  Alongside this, 2021 continues to be a year of global changes in the economy amidst the Coronavirus pandemic.

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The ECB is investigating issuing a digital Euro, and a recent report suggests they are looking at the DeFi space in depth, highlighting the importance of Fusion technology. Overall, the Fusion blockchain is a solution to the post-COVID-19 recovery of the world economy. 


Fusion Network

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Fusion is a decentralized and open-source blockchain that offers users an ecosystem for converting cryptocurrencies and stable coins without using exchange platforms. The technology eliminates intermediaries in the financial process. 

Ninety-seven validators protect the Fusion network, and most recently, the blockchain has crossed 10 million transactions on the network. The transaction fee is around $ 0.001552. 

Using its technology, Fusion’s unique features have combined blockchains and ensured their mutual integration, eliminating once and for all the existing problems of blockchains - the complexity of interaction and isolation. Hundreds of platforms are developing almost separately and require interconnection to allow the digital finance revolution’s full potential to be realized. 

 

Fusion and CBDC’s

With the beginning of legislative regulation of the cryptocurrency market, state and private banks are also testing their own stable coins (CBDC)  Fusion is therefore poised as a key link in digital finance as its technology connects the entire cryptocurrency economy; this makes Fusion blockchain ideal at the government and banking levels. 

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The report of the Central Bank of Europe states: 

“Fusion aims to connect different DLTs by employing a common public blockchain using Decentralized Control Rights Management (DCRM) – an open-source interoperable solution that offers a decentralized custodian model (cross-chain and cross-system). Where assets are held and transferred on behalf of the user across heterogeneous chains. The DCRM is to offer hot wallet liquidity with cold wallet security, a key recovery system and, a settlement network, as well as an option of introducing protection requiring multiple approvals in case of both workflow on-chain or off-chain.”  


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Fusion Decentralized Finance Protocols

Fusion is positioned as a turnkey solution for global finance.  The Fusion ecosystem is evolving rapidly, and new projects are joining the DCRM alliance and launching decentralized applications on the platform, such as the Anyswap decentralized cross-chain exchange.  Anyswap currently supports multiple blockchains (Fusion, Ethereum, Binance Smart Chain, Huobi, Fantom).  During the first round of funding from the Binance Accelerator Fund - Anyswap received a grant. 


The full-fledged launch of the acclaimed project Chainge Finance on the Fusion blockchain is scheduled for the spring of 2021. Chainge Finance will open access to the world of decentralized finance for absolutely everyone. 

CHNG tokens are only distributed for free, exclusively to real people. Exactly a month has passed since the start of the free distribution of Chainge Finance tokens. There are currently over 450,000 real people on the waiting list for the Chinge Finance app, displaying the protocols large demand. On February 9, 2021, the Chainge Finance decentralized financial platform opened deposits with an annual interest rate in Bitcoin (8.32%) and USDT (Tether 16.18%). 

We are entering the world of digital finance with Fusion. 

 

Concluding Thoughts

The Fusion Network is pioneering in the layer-1 space of De-Fi, providing users with a robust blockchain to support financial transactions. The team has developed an ecosystem to contain protocols such as AnySwap and Chaing, which will continue to propel this blockchain towards its end mission of supporting the future infrastructure of finance. 

Fusion has displayed its continued innovation and has no plans of slowing down development in these stages of the crypto bull market. The network has received acknowledgment for the ECB, giving it a large amount of Ethos when considering the CBDC narrative. Overall this blockchain is rapidly growing as more protocols continue to deploy on Fusion. Fusion is still a relatively small network, but its rapid expansion and use cases make it attractive. We are entering the world of digital finance with Fusion. 

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For more information, or if you wish to stay up to date on the project, check out project and media pages:

Website

Docs 

Telegram

Twitter

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

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Goon Trades

Greg (GoonTrades) is BSC News' Chief Editor and is also a writer for the team. Currently enrolled as an economics major, he finds himself as a cryptocurrency researcher, writer, and technical trader.