What Is Fusion (FSN)?
Fusion (FSN) is the native token of the Fusion Network. The token was issued on the Ethereum blockchain based on the ERC-20 token standard. FSN plays an important role in maintaining the sustainability of the Fusion protocol. Take a look at the Fusion price chart above to see the current FSN price.
Fusion Network is a blockchain-based financial platform seeking to connect all financial transactions in a cross-chain, cross-organization, and cross-data source ecosystem. It does that by supporting smart contracts, which allow developers to build cross-chain applications. Such applications can freely interact with other blockchain protocols and systems.
One of the main goals of Fusion is to solve scalability and interoperability problems that other networks face. To achieve this goal, Fusion uses an extensive technology stack. To begin with, it employs Distributed Control Right Management (DCRM). DCRM essentially is a security layer that protects all assets locked in the Fusion smart contracts. Moreover, Fusion also has another feature integrated into its smart contract called the Multiple Triggering Mechanism, which includes time and event-based triggers. Finally, Fusion uses a unique consensus mechanism called the Hierarchical Hybrid Consensus Mechanism (HHCM). The technology combines proof-of-work (PoW) and proof-of-stake (PoS) mechanisms, as well as parallel computing to create an efficient and safe platform.
Who Founded Fusion?
The Fusion crypto project was founded by Dejun Qian. He is also the founder of BitSE, which is one of the earliest blockchain incubators. BitSE facilitated the rise of VeChain and QTUM. The rest of the team has a background in business and software development.
What Can You Do with Fusion Tokens?
FSN token is the utility token of the Fusion network ecosystem. It mainly has three use cases: paying network fees, rewarding network miners, and executing the protocol’s smart contracts.
Fusion Tokenomics
The maximum supply of Fusion tokens is 81.92 million. The Fusion team held a successful ICO in February 2018, raising $42.2 million by selling 20.48 million Fusion tokens. The FSN price at launch was $2.06. Since then, the Fusion price has gone through a series of downward and upward trends. The lowest FSN price was recorded on Mar 14, 2020, with each token selling at $0.07753. Though right before that, on May 05, 2018, it hit a record high of $12.6.
The initial total supply of Fusion crypto assets was 57,344,000. 10% of the supply was allocated to several ICO participants, 10% went to the development team, and another 10% went to angel investors. The remaining supply was set aside for future project development, cross-chain collaboration financing, and the HHCM reward fund.
