College student trying to escape from the rat race and a full-time crypto enthusiast. Part-time content maker and community manager.
College student trying to escape from the rat race and a full-time crypto enthusiast. Part-time content maker and community manager.
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With the first „real boom“ in the cryptocurrency world, people are starting to notice how different decentralized technologies can revolutionize the payment and the bank system. That's where the Fuse team wants to be in 2022, at the forefront of innovation, especially for mobile use.
We still live in a world where the financial system fails in providing global access, especially in developing countries. Mass adoption is not there yet and a very large number of current solutions have complicated UIs with poor overall UX for the average, non-developer, user.
Fuse Network is a decentralized blockchain-powered platform that will provide solutions to the problems we are currently facing by introducing mobile-first tools for creating and managing token-powered environments.
The team behind was previously involved in building the Colu project whose goal was bringing local currencies to the blockchain.
23 million network transactions
more than 68 million $FUSE staked (50% participation) from more than 2000 individual delegators
surpassed a 200$ million market cap
$20 million in TVL
Last week, Voltage.finance was launched which will provide a vibrant ecosystem for all things in DeFi.
Now that we have general information about the project, let's deep dive into what Fuse Network is all about.
• The Fuse Network blockchain
• The mobile-centric open-source technology stack
• A set of reference DeFi products and tools
It is a decentralized EVM-compatible public blockchain that powers the Fuse Platform and the entire ecosystem and runs on several variants of delegated Proof-of-Stake consensus.
There currently are 54 validators (of 100 max.) that provide security to the ecosystem only one of which is run by the core team and also have an important role in governance on Fuse by adopting the network protocol changes (Fuse Improvement Proposals).
Fast block confirmations and low-cost transactions are must-have features to ensure scalability and adoption. In the present capacity, Fuse can process around 180 transactions per second (120 native tokens and 60 ERC20) and the average time to confirm a block on Fuse is around 5 seconds with minimal costs of $0.01.
As we are speaking about scalability, that's a challenge the network will face but the team is already researching how to boost the scalability without significantly sacrificing decentralization and security.
The most likely method used will be the implementation of Flutter Layer 2 Payments (FL2P) which relies on zero-knowledge rollup technology.
FL2P is also an SDK (Software Development Kit) that will enable developers to deploy zk-rollups directly on Fuses' mobile crypto wallet software.
The Fuse Network aims to be connected to as many major blockchains platforms as possible and currently supports a variety of ERC20 tokens (including wrapped versions) on the Ethereum chain and Binance Smart Chain.
Connection is made by two-way custodial bridges (FuseFi, Elk Finance, Connext, Multichain etc.) accessible via the native DEX FuseSwap.
A key feature is that users when transacting with Fuse, receive the same version of the relevant token which reduces friction for the users sending tokens to Fuse Network.
The native token of the network is the $FUSE token that has several use cases:
paying for fees on the network
staking to become a validator (100k tokens)
voting (for validators)
staking (for delegators) to earn a share of the blocks (any amount)
payments on the network
As the rewards for the validators come from the newly minted $FUSE tokens, Fuse has a mildly inflationary model with current inflation of 5% yearly. FIPs are aimed at reducing inflation to 2% after the third year of the network's existence and a fixed amount of tokens in the subsequent years.
Since the launch in 2019, the network accomplished several integrations and partnerships with well-known projects including:
RAMP NETWORK
leading global provider of fiat on-off solutions
the partnership enables fast and convenient on-ramps from bank accounts to accounts on Fuse by purchasing Fuse-native stablecoins- fUSD
CHAINLINK
leading oracle in the crypto space
used to enhance the full-backing of the fUSD with USDC
UNSTOPPABLE DOMAINS
enables the use of human-readable names to classic blockchain addresses
the Fuse website has a hosted version on IPFS
BEEFY FINANCE
multichain yield optimizer with auto compounding for helping users get the most from DeFi passive income streams
FUSE CASH
consumer-focused implementation of the Fuse Wallet technology
FUSE WALLET
available for Android and iOS
and a lot more, which can be seen on the following link.
add interoperability with all L1's and L2's
FuseX stablecoin
V2 version of fUSD
decentralized app store revamp with a focus on user-friendly UI
adding more useful tools and services
creating a DAO and treasury management
eCommerce and NFT support
zk-rollup scaling solution integration
adding more features to mobile wallets like social recovery, NFT support, L2, scaling etc.
To keep up with all the news and important things happening in the Fuse ecosystem, I suggest you follow their social media:
With the first „real boom“ in the cryptocurrency world, people are starting to notice how different decentralized technologies can revolutionize the payment and the bank system. That's where the Fuse team wants to be in 2022, at the forefront of innovation, especially for mobile use.
We still live in a world where the financial system fails in providing global access, especially in developing countries. Mass adoption is not there yet and a very large number of current solutions have complicated UIs with poor overall UX for the average, non-developer, user.
Fuse Network is a decentralized blockchain-powered platform that will provide solutions to the problems we are currently facing by introducing mobile-first tools for creating and managing token-powered environments.
The team behind was previously involved in building the Colu project whose goal was bringing local currencies to the blockchain.
23 million network transactions
more than 68 million $FUSE staked (50% participation) from more than 2000 individual delegators
surpassed a 200$ million market cap
$20 million in TVL
Last week, Voltage.finance was launched which will provide a vibrant ecosystem for all things in DeFi.
Now that we have general information about the project, let's deep dive into what Fuse Network is all about.
• The Fuse Network blockchain
• The mobile-centric open-source technology stack
• A set of reference DeFi products and tools
It is a decentralized EVM-compatible public blockchain that powers the Fuse Platform and the entire ecosystem and runs on several variants of delegated Proof-of-Stake consensus.
There currently are 54 validators (of 100 max.) that provide security to the ecosystem only one of which is run by the core team and also have an important role in governance on Fuse by adopting the network protocol changes (Fuse Improvement Proposals).
Fast block confirmations and low-cost transactions are must-have features to ensure scalability and adoption. In the present capacity, Fuse can process around 180 transactions per second (120 native tokens and 60 ERC20) and the average time to confirm a block on Fuse is around 5 seconds with minimal costs of $0.01.
As we are speaking about scalability, that's a challenge the network will face but the team is already researching how to boost the scalability without significantly sacrificing decentralization and security.
The most likely method used will be the implementation of Flutter Layer 2 Payments (FL2P) which relies on zero-knowledge rollup technology.
FL2P is also an SDK (Software Development Kit) that will enable developers to deploy zk-rollups directly on Fuses' mobile crypto wallet software.
The Fuse Network aims to be connected to as many major blockchains platforms as possible and currently supports a variety of ERC20 tokens (including wrapped versions) on the Ethereum chain and Binance Smart Chain.
Connection is made by two-way custodial bridges (FuseFi, Elk Finance, Connext, Multichain etc.) accessible via the native DEX FuseSwap.
A key feature is that users when transacting with Fuse, receive the same version of the relevant token which reduces friction for the users sending tokens to Fuse Network.
The native token of the network is the $FUSE token that has several use cases:
paying for fees on the network
staking to become a validator (100k tokens)
voting (for validators)
staking (for delegators) to earn a share of the blocks (any amount)
payments on the network
As the rewards for the validators come from the newly minted $FUSE tokens, Fuse has a mildly inflationary model with current inflation of 5% yearly. FIPs are aimed at reducing inflation to 2% after the third year of the network's existence and a fixed amount of tokens in the subsequent years.
Since the launch in 2019, the network accomplished several integrations and partnerships with well-known projects including:
RAMP NETWORK
leading global provider of fiat on-off solutions
the partnership enables fast and convenient on-ramps from bank accounts to accounts on Fuse by purchasing Fuse-native stablecoins- fUSD
CHAINLINK
leading oracle in the crypto space
used to enhance the full-backing of the fUSD with USDC
UNSTOPPABLE DOMAINS
enables the use of human-readable names to classic blockchain addresses
the Fuse website has a hosted version on IPFS
BEEFY FINANCE
multichain yield optimizer with auto compounding for helping users get the most from DeFi passive income streams
FUSE CASH
consumer-focused implementation of the Fuse Wallet technology
FUSE WALLET
available for Android and iOS
and a lot more, which can be seen on the following link.
add interoperability with all L1's and L2's
FuseX stablecoin
V2 version of fUSD
decentralized app store revamp with a focus on user-friendly UI
adding more useful tools and services
creating a DAO and treasury management
eCommerce and NFT support
zk-rollup scaling solution integration
adding more features to mobile wallets like social recovery, NFT support, L2, scaling etc.
To keep up with all the news and important things happening in the Fuse ecosystem, I suggest you follow their social media:
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