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.

In 2021 they had several key performance indicators hit:

• 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.

Fuse as a platform consists of several components:

• The Fuse Network blockchain

• The mobile-centric open-source technology stack

• A set of reference DeFi products and tools

THE FUSE NETWORK BLOCKCHAIN

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.

Okay, now the tokenomics.

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.

Plans for the future

• 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: