Fusion: Tech Updates, Listing On Korean Based Exchange DFlow, Explaining Fusion PSN Staking Rewards, Introducing Knowledge Center
Biweekly update 21st January — 2nd February
This is not financial advice.
During the last two weeks, Fusion made progress with the development. The technical team released two tech updates, they have been working on the PSN 2.0 release and have created a private testing network internally to test PSN 2.0 with 8 miners and 2 gateways. After the successful launch of PSN 1.0, they have been focused on improving the overall performance of the network. The community has played an important role in this process, helping to test the network, identify issues and even propose some resolutions. There are some innovative functions that are currently running smoothly on PSN 1.0, including time-lock, create asset, USAN and more. The team is also pumped to release the Quantum Swap interface and asset gateway (that enables lock-in/lock-out of ERC-20 tokens) in the near future. Fusion community continues to grow and during the last two weeks the number of official FSN Twitter channel increased by more than 20%. There is also a stable increase in the number of token-holders. These weeks FSN was listed on DFlow crypto exchange backed by Blockwater, one of Korea’s largest token funds. Also, The FUSION Foundation published an article introducing an innovative staking reward program that incentivizes participants to hold onto their FSN ERC-20 tokens during the Payable Stage Net whilst also demonstrating the magic of Time-Lock. And the last, but not the least — Fusion introduces their Knowledge Center, making it easy to access and explore useful Fusion documentation and content.
The Fusion PSN network has been running for 3 weeks with an average of 170 nodes participating in consensus and approaching 85K blocks mined.
On the development side the technical team has been working hard on the PSN 2.0 release. They have created a private testing network internally to test PSN 2.0 with 8 miners and 2 gateways.
PSN 2.0 will include the following:
1. Faster transaction processing
2. Better synchronisation of nodes
3. Improvements to the consensus mechanism
4. Bug resolutions in Time-Lock and Swaps
5. Quantum Swap Interface
6. Reward Engine in order to start distributing rewards for packing blocks.
7. Trezor integration
After the successful launch of PSN 1.0, the technical team has been focused on improving the overall performance of the network. The community has played an important role in this process, helping to test the network, identify issues and even propose some resolutions.
The tech team is super excited about the innovative functions that are currently running smoothly on PSN 1.0, including time-lock, create asset, USAN and more. The team is also pumped to release the Quantum Swap interface and asset gateway (that enables lock-in/lock-out of ERC-20 tokens) in the very near future.
With the release of PSN 2.0 on the horizon, the team wants to elucidate some of the network improvements that the technical team has been working diligently on.
1. Network Communications
To avoid network communication conflict with the existing Ethereum implementations they have changed their network to operate on Network ID 55, ChainID 99551, and discovery port 40403 and 40401. The nodes they are currently testing in the lab are synching almost instantly because of the changes.
2. Getting Rid of the Dreaded Merkle Root.
An invalid merkle root occurs when the hash of a block received is different to the hash that has been calculated locally. In the teams api functions they had certain fields that were dependent on time. The field was using the local computer’s time vs the block time which would be the same for all computers. This one slight difference causes the block’s hash to be calculated differently and consequently the block is rejected. All api functions within the Fusion ecosystem have been reviewed to ensure consistency across nodes.
3. Improved Error Reporting
Fusion supports powerful features for the management of assets, value over time, and quantum swapping. The api functions which can be found in the github project web3-fusion-extend call the fusion engine. The fusion engine has been updated to include rich error logging both for the block explorer and the gateway console to understand why a function has failed to be submitted. This will allow application developers to quickly correct their code and deliver solutions fasters.
4. Consensus Engine and Proper State
Fusion’s consensus engine relies on the fact that all previous state information is present when deciding which ticket is valid. This requires all Fusion nodes to be full archival nodes. The team appreciates this might not be ideal for all situations because of space issues and are reviewing for the next version a different approach. The upside is that the fusion nodes are syncing well, and ticket selection is securely replicated across the network. The team will has more info on this as they make improvements to the network.
For those more technically minded, Fusion uses Proof of Stake as its consensus engine. Tickets are contained in the state of the block. To ensure tickets are selected in the right order across the Fusion blockchain, Fusion must receive the ticket array and process sequentially to insure the owner of the ticket has mined the blocked. If the miner is not available then another ticket is selected. Fusion’s PoS engine needs the ticket information from each block to proceed accordingly. The ticket information is currently recorded in the state of the block. When the Fusion chain rebuilds itself, it cannot currently support fast synching; as it will need all state information from each block to recreate the ticket life and allow syncing of older blocks. They are currently looking at the best approach with regards to securely storing ticket information in order to mitigate the requirement of being a full archival mode. For now on PSN 2.0 all nodes will need to be fully synced archival modes in order to participate.
- Payable Staged Network is Live: video.
And other Fusion’s Payable Staged Network Video’s.
- P-FSN Genesis Block Balances: Check out your P-FSN balance in the attached Excel spreadsheet.
- Relevant links for the PSN network:
PSN Wallet — www.myfusionwallet.com
PSN Block Explorer — https://blocks.fusionnetwork.io/
PSN Node Monitor — http://node.fusionnetwork.io/
PSN Auto-buy Ticket — https://tickets.fusionnetwork.io/
PSN API Gateway — https://api.fusionnetwork.io/
- How to Get Involved, Test, Earn and Learn on the Fusion PSN, Plus Additional Information:
Fusion introduces their Knowledge Center, making it easy to access and explore useful Fusion documentation and content. In addition, Community members can submit requests/questions through the Knowledge Center and receive company assistance.
Fusion past events:
- 27 Nov — Blockchain Summit Dubai 2018
- 1 Jul — Chainers 2018 Summit in Seoul
- 29 Jun — Meetup in Amsterdam
- 27 Jun — Meetup in London
- 14 Jun — Ethfinex Exchange Listing
- 31 May — Testnet Release
- 16 Mar — AMA on Reddit
- 15 Mar — Design Contest Submission Deadline
- 11 Mar — SXSW Conference in Austin
- 22 Feb — Cobinhood Exchange Listing
The FUSION Foundation is introducing an innovative staking reward program that incentivizes participants to hold onto their FSN ERC-20 tokens during the Payable Stage Net whilst also demonstrating the magic of Time-Lock.
Fusion has already broadcast to the community that they will be rewarding users 0.625 ERC-20 FSN tokens for participating in staking and packing blocks on the Fusion Payable Stage Network.
Whilst this remains true, Fusion has developed a new and refined reward program that further encourages users to hold onto their FSN ERC-20 tokens whilst they stake on PSN.
Before sending rewards, Fusion will check a user’s balance in FSN ERC-20 tokens at the time of the distribution of rewards against their balance in FSN ERC-20 tokens at the time of the snapshot. If your balance in FSN ERC-20 tokens is more than or equal to your balance at the snapshot then you will be distributed 0.625 FSN ERC-20 tokens per block validated.
However, if your balance in FSN ERC-20 tokens at the time of distribution of rewards is less than your balance was at snapshot then your rewards will be distributed as FSN ERC-20 tokens time-locked from 1 year in the future until infinity (1 year, ∞). This means that complete ownership over the tokens will not be available to the user until 1 year into the future.
Of course, FSN ERC-20 tokens time-locked from 1 year in the future until infinity (1 year, ∞) can still be exchanged (likely at a discount) in the Quantum Swap marketplace.
The purpose of the refined staking reward program is to reward Fusion token holders for their commitment to Fusion’s vision and participation in the Fusion ecosystem.
FSN was listed on DFlow (dflowx.com), an up and coming crypto exchange backed by Blockwater, one of Korea’s largest token funds.
DFlow is the next generation crypto-to-crypto trading platform providing a seamless user experience. DFlow supports unique features such as IEO, POS/DPOS mining, and decentralized custody of digital assets while striving to share the growth of the platform with its users through various mechanisms. This is the Decentralized Flow of Crypto Finance. DFlow is backed by Blockwater, one of the biggest token funds in Korea.
You can check out DFlow’s listing announcement here.
- P-FSN Genesis Block Balances: Check out your P-FSN balance in the attached Excel spreadsheet. Search (Command+F) for your public address, the corresponding number represents the quantity of P-FSN tokens that will be available to you in your Fusion PSN wallet.
From Telegram group: Rudy (@RkadSG, admin): “No roadmap available yet, we are progressing with stagenet approximately December 10th, then will launch mainnet according to the testing progress”.
Partnerships and team members
- DJ Qian — @djqianfusion on January 15th, 2019: “Anyone could build their own financial instruments with #fusion. That’s the kind of power and flexibility we want to and will give to the world. #finserv https://fusion.org/psn/
- DJ Qian — @djqianfusion on January 15th, 2019:
1/ 1000s of financial instruments exist today for example: #bonds, #futures, #mortgages. All seem different, each needing a different system for issuance, management, and settlement. But they’re all the same.
2/ A set of combinations of future value flow, time-lock, amount, and timeline. @fusionprotocol, natively delivers the fundamental controls to build and issue any financial instrument. http://fusion.org
3/ @FUSIONProtocol breaks down all boundaries, supporting the #futureoffinance in a whole new way. It’s time to imagine what is now possible with this new infrastructure and set of tools. http://fusion.org .
- DJ Qian — @djqianfusion on January 31st, 2019:
1/ “Whether we like it or not, governments are some of the most successful distribution platforms. If we can find a way to use government to actually deploy and use blockchain technology, we’re going to move a long way towards adoption.” Blockchain, DLTs, and a Lot of Crypto-Bashing: Main Takeaways From Davos WEF article.
2/ It’s highly likely that we’ll see early adoption from governments in the developing world where the impact is the greatest to those societies. Adoption will potentially mirror smartphone adoption in those same regions. Highly accelerated because the tech was needed.
- FUSION @FUSIONProtocol on January 7th, 2019:
Good #blockchain survey from the @Deloitte team: “95% of over 1,000 blockchain-savvy executives from a variety of industries and professions are investing in #distributedledger technology.” Deloitte’s 2018 Global Blockchain Survey: Blockchain Is “Getting Closer To Its Breakout Moment” article.
- Bitcoinwiki.org @realbitcoinwiki on January 17th, 2019:
“Main net will go live after PSN, we are in the process of testing and improving the PSN network. I can’t attach a date to main net. We have a plan internally on when we think main net launch will happen but at this stage we are not ready to make any announcements or commitments”.
Social media metrics
Twitter — Average number of retweets is 30–60 for one post.
FUSION Community Twitter — since 19th October 2018.
New social media channel — FUSION Developers Announcements Telegram (since 31st December 2018): 171 followers (15th January), 273(4th February).
Facebook (till May 2018) — announcements, 10–15 likes, 1–2 shares.
Bitcointalk.org — since January 20, 2018. Last post — on February 01, 2019: latest news, price, etc.
Fusion forum. Popular topics:
The graph above shows the dynamics of changes in the number of Fusion Facebook likes, Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.