Altcoins: Fusion (FSN) - What Is It? - A Deeper Look Into the Fusion (FSN) Platform, An Interoperable Ecosystem For Financial Innovations

Altcoins: Fusion (FSN) - What Is It? - A Deeper Look Into the Fusion (FSN) Platform, An Interoperable Ecosystem For Financial Innovations

Summary:

  • What is the Fusion Platform and how does it work?
  • Advantages of the Fusion exchange.
  • Fusion’s past, present and future price positions.

Read next: Altcoins: IOTA (MIOTA) - What Is It? - A Deeper Look Into the IOTA (MIOTA) Platform 

The Fusion platform

Fusion is an interoperable ecosystem for financial innovations, it is a platform that is aimed at powering the next wave of DeFi innovation on the blockchain. Fusion has a current market capitalisation of more than $16.3 million. There is a maximum supply of 81,92 million FSN tokens and there are currently 71,995 million in circulation.

Fusion describes itself as an all-inclusive blockchain based financial platform that offers cross-chain, cross data source and cross-organisation services through making use of smart contracts.

The Fusion project makes use of the Hierarchical Hybrid Consensus Mechanism (HHCM), which amalgamates elements from proof-of-stake (PoS), proof-of-work (PoW) and parallel computing, this is done with the goal of creating a safe and efficient platform.

Fusion leverages Distributed Control Right Management (DCRM) as an extra layer of security, DCRM protects crypto assets on the Fusion blockchain. The distributed storage and sharding of a private key ensures that no single node has the ability to gain control of assets.

Fusion also provides for multiple triggering modes, such as event-based and time-based triggers, these are included in their smart contracts, which were designed to meet the demands of complex smart contracts.

Ecosystem projects on the Fusion platform:

The Fusion Wallet allows platform users to create, manage, enhance, receive, send, time-lock and swap digital assets within an interoperable framework. The Quantum Swap Sandbox allows Fusion users to swap any digital asset with any exchange pair and maintain complete control over all of the swap parameters enjoying low gas fees, seamlessly. The Block explorer project is a fully realised block explorer that is used to track wallet addresses, transactions, time-locks, block height and both native and external assets. The network monitor project is used to monitor block time, gas price, difficulty calculation, propagation time and other performance metrics on the Fusion network monitor.

It is possible for prospectus and current users to purchase Fusion’s FSN token at the current rate on the top cryptocurrency exchanges for trading in Fusion stock, some of these exchanges include OKX, KuCoin, Huobi Global, MEXC and Gate.io.

Advantages of the Fusion platform

  1. Interoperability: Fusion facilitates cross-chain interoperability through a decentralised custodian model (DCM).
  2. Time-lock feature, this feature is unique to Fusion and allows users to extract time-value out of their digital assets.
  3. Smart contracts: Fusion facilitates Ethereum compatible enhanced crypto financial smart contracts.
  4. Security: Manage and control private keys in a distributed manner with DCRM technology.
  5. Scalability: Fusion is scalable, decentralised, efficient and environmentally friendly network nodes.
  6. Digital assets: Users can create, lend or manage their own digital assets and NFTs using the Fusion’s FRC20 protocol.
  7. Staking: efficient and improved Ethereum compatible, tickered proof of stake algorithm.
  8. Developer friendly: users can jumpstart their application with a new set of APIs geared to finance.

Past, present and future prices of The Fusion network (FSN)

The FSN token reached its first peak in August of 2018 hitting a price of more than $8.4, the first peak was then followed by a gradual but steady decline. Since the first price peak, the price of FSN has remained relatively steady but has, however, jumped up and down over the years.

Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, FSN does fall under this category.

According to some analysts, the future price of The Fusion networks (FSN) could reach up to $0.61 by 2024 and could see a price of more than $6 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions.

Altcoins: Fusion (FSN) - What Is It? - A Deeper Look Into the Fusion (FSN) Platform, An Interoperable Ecosystem For Financial Innovations - 1 FSN Price Chart

Sources: Fusion.org, coinmarketcap.com, priceprediction.net,

Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.