The Benefits of Cross-Platform Interaction in Blockchain Technology

This is made possible by offering borrowers the opportunity where loan repayment is automatically executed based on the-most-recently-appreciated-tokens that they own.

Blockchain Interoperability

Interoperability is a property that is conspicuously non-existent in the blockchain ecosystem. Blockchain tokens lack the capacity to directly and seamlessly interact between themselves. This deficiency is due to the fact every blockchain platform has the capacity to exist as an independent and self-sustaining entity within their networks.

Hence, with digital technology transiting fully into the phase of Internet of Value (IoV), this deficiency remains a major disadvantage to the development of blockchain technology.

The innovation by Fusion that creates an interactive platform for both existing blockchains and blockchains of the future welcomes an era of improved convenience and several collaborative possibilities for the industry as a whole.

This is evident in the example mentioned above where token holders can focus on general asset value rather than the chaotic market overview at any given time. In this case, any borrower can be confident that the extreme volatility of specific cryptocurrencies would not have absolute effect on their investments. Therefore, the risk is spread across board and maximum value is retained.

Multi-Token Interaction

Another important element in the cross-platform idea of Fusion is the fact that the is supports the multi-token wallet system. Prior to this time, crypto enthusiasts and investors would either keep their tokens in the existing exchanges.

This involves them relinquishing total control of their assets and taking the responsibility of bearing any associated third-party risks that the exchanges might encounter. Other than that, crypto holders would go through the stress of keeping tabs with dozens of separate individual wallets that hold their tokens.

The Fusion project is Founded and led by DJ Qian, who is a superstar Chinese entrepreneur formerly behind Quantum and VeChain. The project is designed to be be faster and more scalable when compared to other solutions due to a unique hybrid Proof-Of-Stake (POS) and Proof-Of-Work consensus mechanism. Smart Contracts based on the Fusion blockchain will allow further new capabilities, such as being dynamic and responding to real-time external inputs and conditions.

Value Transfer System

The internet of today revolves around the transfer of value, hence Internet of Value (IoV). Therefore, being a value-based technology, for blockchain to find meaningful relevance in today’s world of digital technology, it must permit an efficient value transfer mechanism. This is what makes the Fusion project an inevitable concept.

Extending beyond simple transfer of value, the project also focuses on the creation of robust communities. All kinds of communities such as technical communities, college communities, user communities, investment communities, node participant communities, central organizations, and data source providers are fostered around Fusion. This emphasizes the original decentralization idea of blockchain technology.

Several benefits reside within the blockchain as an idea and a technology. This is evident across several industries as observed in the numerous innovations that spring up on a daily basis. In order to achieve the extended benefits and fulfil the potentials therein, proper and unhindered interaction and value transfer must be achieved between multiple platforms.

Source: Read Full Article

Leave a Reply