Fusion: Payable Staged Network Launch, new article on DCRM, DJ Qian at The Blockchain Summit
Biweekly update 20th November-4th December
The PSN will allow the community of early adopters to see how Fusion technology solves the challenge of interoperability by enabling cross-border, cross-ledger, and cross-asset transactions on a secure, globally accessible platform. The Fusion Network opens a window to exciting new possibilities. The PSN approach is a way to fully test the network before migrating to a secure and robust main net.
Fusion has designed a unique reward system for PSN participants. In the PSN “sandbox”, PSN tokens (P-FSN) will be used as utility to test a range of unique functionality including: generating universal short account numbers (USAN), staking, swapping, transacting, time-locking, and more. Key Callouts:
- Running nodes on the PSN earn rewards in both PSN (P-FSN) and in ERC-20 FSN tokens.
- ERC-20 FSN rewards are paid from the community allocation of FSN tokens until main net goes live.
- During PSN, the Ethereum blockchain will continue keeping the ledger for real ERC-20 FSN tokens until the main net token swap.
- The ERC-20 FSN remains the tradable token of value during PSN until it’s swapped for native FSN tokens upon main net launch.
Fusion will take a snapshot of the Ethereum block at block height 6,868,000. This snapshot will serve as the PSN genesis block balance. Based on the number of ERC-20 FSN tokens at block height 6,868,000 of Ethereum in each public address, PSN tokens (P-FSN) will be automatically sitting in the same public address as every ERC-20 FSN holders are using now. And of course, the private keys remain the same. Fusion will release instructions with details about how to use your current private key/ keystore of ERC-20 FSN to access PSN tokens(P-FSN) in an upcoming article.
Fusion has four main goals for the PSN:
- Validating the platform;
- Testing features and functionality;
- Proving the utility of the FSN token;
- Validating the security of the Fusion platform for the token swap.
- The Fusion Payable Staged Network: How to Participate, Stake, and Earn Rewards — Part Two of the PSN 101 Series: In Part Two of the Fusion Payable Staged Network (PSN) Series, several topics are being detailed that relate to staking on the PSN including a robust FAQ section.
At the precise moment the 6,868,000th block is forged, a snapshot of all the ERC-20 FSN wallet addresses and balances will serve as the genesis block for the P-FSN balances on the FUSION Payable Stage Network (PSN). The P-FSN token will be a native token to the FUSION PSN network and will ONLY be accessible (and visible) in the FUSION PSN wallet which will be released to align with the network launch.
Steps to Receive P-FSN — Checklist:
- User holds their balance of FSN ERC-20 tokens in their wallet where they control the private key.
- At Ethereum block height 6,868,000, Fusion takes a snapshot of the block which acts as the genesis block for PSN. The snapshot records FSN ERC-20 wallet addresses and user’s FSN ERC-20 balances.
- PSN tokens P-FSN are automatically sitting in all wallets at the ratio of 1:1 to FSN ERC-20 token balances.
- User’s FSN ERC-20 public address is used for the FUSION PSN Wallet. The FUSION PSN Wallet is unlocked with the same private key used to manage FSN ERC-20 tokens.
- A balance of P-FSN tokens equivalent to the user’s FSN ERC-20 balance will be available to the user in the FUSION Wallet.
P-FSN tokens are the utility token that powers the FUSION PSN network. The tokens can be used for staking, quantum-swapping, transacting, time-locking and more. All of these functions can be tested in a completely risk-free way since the P-FSN tokens have marginal real-world value. P-FSN are testing tokens similar to Rinkenby or Bitcoin Testnet tokens. However, there is also a mechanism by which P-FSN token holders can earn real FSN ERC-20 rewards — by participating in staking. The idea is that if in an individual possesses native tokens to the network (a ‘stake’ in the network), they have an interest in maintaining the accuracy of the ledger and can therefore be trusted to broadcast the truth when blocks are validated. The validator of a new block is chosen based on the quantity of tickets bought by participants with time locked P-FSN and transaction fees (P-FSN) are awarded to the validator of a block.
- Realizing the ‘Internet of Value’ Now Closer Thanks to New Blockchain Technology Breakthrough: Fusion’s DCRM Open-Source Technology Explained Part Two.
In Part Two of this series, John Liu and Holly Kasun explores how Fusion-managed wallets unlock seamless value exchange through an innovative solution juxtaposing token rights with the creation of compatible Fusion representations of these siloed tokens.
- Fusion’s Telegram Q&A with DJ Qian talking about PSN (Payable Staged Network): November 22, 2018 in Telegram — Fusion Information Overview — DJ Qian (Fusion CEO) answering some community members questions about PSN and giving us some further information.
- Fusion’s Telegram Q&A with DJ Qian talking about PSN (Payable Staged Network) Part 2 — November 29, 2018.
- 27th November FUSION Founder and CEO, DJ Qian Joins Industry Leaders to Present at The Blockchain Summit, Dubai. Event details. Agenda.
The Blockchain Summit Dubai is a conference and exhibition connecting industry leaders, business decision makers, tech innovators and investors. The focus of the conference is to present and discuss cutting edge use-case studies offering a “how-to” approach to deploying blockchain technologies across industries including: finance, insurance, logistics, utilities, media and entertainment, and more. High profile speakers at the event include representatives from global institutions including: IBM, ING, Cisco, MasterCard, The Dubai Blockchain Center, SAP, and others. These organizations are on the cutting edge of blockchain adoption, shaping how the technology is and will be applied in industries across the globe.
Qian’s presentation is titled “The Path to Mainstream Adoption”. His talk focuses on the evolution of blockchain development leading to where institutions are today and his views on where blockchain technology is heading in the future. DJ is introducing a new concept, “The Network Blockchain” which articulates his vision for interoperability (the free flow of value exchange cross-border, cross-ledger, and cross-asset), which is the critical next step for enterprise adoption.
DJ’s talk is also highlight the key aspects of the Fusion protocol presenting the advantages for enterprises needing to adopt and integrate blockchain technology into business processes.
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 — Tesnet Release
- 16 Mar — AMA on Reddit
- 15 Mar — Design Contest Submission Deadline
- 11 Mar — SXSW Conference in Austin
- 22 Feb — Cobinhood Exchange Listing
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
“Over the next few weeks, Fusion will be releasing more detailed information on the reward economics, staking, ways to earn on the PSN, the bug bounty program, features, functionality and more. The Fusion team is focused on tech delivery and moving quickly to release information on what we believe is going to be the project to watch in 2019”. Source: @fusionprotocol.
Fusion: At the dawn of cryptofinance and Blockchain interoperability: review by Rudy Kadoch.
Social media metrics
Facebook (till May 2018) — announcements, 10–15 likes, 1–2 shares.
Twitter — Average number of retweets is 30–60 for one post.
Bitcointalk.org — since January 20, 2018. Last post — on November 28, 2018: latest news, price, etc.
Fusion forum. Popular topics:
- [Guide] Setting up the TestNet on Linux (Ubuntu 16.04)
- Supreme Node, a little digging and some math
- Hi everyone and welcome!
- Price Prediction EOY
- Guardian of the Fusion temple
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.