DJ Qian on FUSION Technology at FFI
https://medium.com/@fusionprotocol/dj-qian-on-fusion-technology-at-ffi-d31c6879d9baSpeaking after 3 days of intense and successful participation in Consensus and several months of hard work by Fusion team, DJ Qian, Visionary and Principal of Fusion, first introduced the functions, features, Specs and other important updates pertaining to the Fusion blockchain.
The 6 features introduced were:
•Lock-in Lock-out — The ability to Lock-in crypto assets from other blockchains onto the Fusion blockchain, for interactions with other assets, and then locking the assets back out (releasing them back to external blockchains) — Initially 4 token types will be supported: BTC, ETH, ERC20 and USDT
•Token ‘Time Lock’ — This revolutionary new feature actually redefines how we address and characterize a store of value. To date, Fiat or Crypto currency was defined by 2 parameters — type ($, €, BTC, ETH etc) and amount. The Fusion blockchain will for the first time include a 3rd parameter built into all locked in assets, which denotes the time period of using the token, separately of ownership. By default this is defined as unlimited (so long as the token is owned). But, it also allows defining a timeframe where the token usage is separated from its ownership, meaning the token may at that period be temporarily ‘used’ by others. This will enable very efficient implementation of various financial use cases (to be detailed separately), and is currently under patent application.
•Short address notation — Mapping of the inconvenient and very long address string to a short and highly usable ‘Account’ number. This will help to encourage adoption from the Finance industry.
•Cross-chain support — Support for cross-blockchain smart contracts.
•New token issue — Support for issuing tokens on fusion, similar but not the same as ERC20 on Ethereum.
•Token swap — Easy Swap for FSN ERC20 to native FSN token on main net Fusion blockchain– No need for 3rd party exchange to exchange ERC20 based tokens for native FSN.
Beyond these features, some more information was disclosed on the Fusion architecture:
•The average block time on Fusion will be 15 seconds, theoretically supporting 2000¬3000 TPS. Block sequence will consist of 9 transaction blocks, followed by a lock-in/lock-out block; This latter type of block requires a special node called ‘Supreme node’ to pack, for which staking of 5000 FSN will be required.
•The block reward for transaction blocks will be 2.66 FSN, and for lock-in/lock-out blocks 6 FSN, halving in approximately 2 years.
•In terms of token economy, FSN will be used as gas for smart contracts and as the judgement fee for conditional judgements (eg event/time based triggers).
