Fusion Foundation’s Payable Staged Network Set to Launch in December 2018
Fusion (FSN), a decentralized, blockchain technology-based protocol for financial solutions, announced the launch of its upcoming Payable Stage Network (PSN), which will facilitate cross-border, cross-ledger, and cross-asset transactions, per a Medium post, November 20, 2018.
Opportunity to Fully Explore the Network before Main Net Migration
In a bid to conduct thorough testing before the impending migration to main net, Fusion Network has created a unique reward system for PSN participants. Participants can test a range of unique functionality in the PSN “sandbox.”
Notably, PSN tokens (P-FSN) would be used as gas to conduct these tests. Some of the testing scenarios mentioned in the post include generating universal short account numbers (USAN), swapping, staking, time-locking, and transacting, among other things. The team highlighted that further details on the FSN token payment system will be explained in a future Fusion article.
Substantiating on the way to participate in the PSN testing program, the post stated that interested individuals must store their ERC-20 FSN tokens in a wallet whose private keys are secure with them.
It’s worth highlighting that Fusion will take a snapshot of the Ethereum blockchain at block height 6,868,000, which will serve as the genesis block for the PSN. Hence, the FSN tokens must be in the user’s wallet at the moment Ethereum generates the said block number.
Further, the post also highlights some of the goals which the Fusion Network aims to achieve through the PSN.
Fusion wants to validate the platform to prove to the world how their protocol can securely support the interaction of trillions of dollars in asset value. Additionally, by making use of smart contracts, issuance of new tokens, and running nodes, test participants will be able to validate the efficiency and reliability of the FSN token and the Fusion Network.
With regard to the security of the tokens, use of non-value tokens (P-FSN) in the PSN environment will help assure the community of their safety, and convenience. Fusion will test the token swap process prior to launching their main net.
Respite Amidst the Crypto Bloodbath
While the global crypto markets continue their infamous downtrend, the development by Fusion is nothing short of impressive.
BTCManager reported on October 22, 2018, how the DLT platform is in talks with one of the United Kingdom’s major commercial banks NatWest to leverage blockchain technology in the syndicated loan market.