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Last commits on public GitHub were made on April 1st, 2019: in efsn and fsn-netstats (FUSION Network Status Monitor) repositories.

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On March 28th, 2019 Fusion announced PSN 2.0 release.

PSN 1.0: The Journey so Far

PSN 1.0 introduced a powerful wallet that demonstrated Fusion’s focus on building the financial infrastructure of the future with the features of asset creation, time-lock, universal short account numbers (USAN). Furthermore, Fusion introduced a new time-lock approach to staking in combination with its complete Proof of Stake consensus engine. Since PSN 1.0 launch on the 28th of December 2018, there have been hundreds of nodes packing blocks on the network, over 1 million transactions validated and more than 300,000 transaction blocks added.

PSN 2.0: A Step Closer to Mainnet

PSN 2.0 is the next evolution of Fusion’s protocol, offering both performance enhancements and new features to create a globally connected ecosystem that provides simple and seamless value transfer. These enhancements incorporate knowledge gained from Fusion’s existing partnerships with companies building the next-generation of blockchain-based financial applications, such as AXP.

PSN 2.0 will become the home of various Beta developments, and continue to be a testing ground to move Fusion closer to its Mainnet launch.

Performance & Stability — Providing a performant and stable ecosystem for applications to exchange value upon continues to be the number one focus of the Fusion Foundation. Through updates to Fusion’s consensus algorithm, optimizations in API calls, and updated discovery ports, confirmation times improved by 200% and chain synch issues were resolved.

Quantum Swap — This breakthrough technology enables instant digital asset exchange, providing users with full control of setting terms, asset pairing, and making offers publicly available or private. Paired with Fusion’s Time-Lock technology released in PSN 1.0, the applications across industries are limitless. Below, we introduce just a few of the opportunities possible

Asset Enhancements — To support non-fungible assets and also provide a richer exchange experience, users can add attributes to describe their assets. Furthermore, users can create assets with fixed or changeable supplies to better capture the nuances in their assets’ value.

Additional Resources

PSN 2.0 — Technical Details:

In this article, the team explores the technical improvements that have been executed in preparation for the launch of PSN 2.0, and the technical execution plan to facilitate a smooth transition to the new chain.

Improving the overall performance of the network: speed, connectivity, communications and more. Refining the Proof of Stake consensus model. Enhancing assets with attributes and changeable supply. Building a Quantum Swap Interface. Integrating hardware wallet support (Ledger) to MyFusionWallet. Developing a model for the distribution of staking rewards. Developing an asset gateway to enable the lock-in/lock-out of ERC-20 tokens.

Fusion has made a number of improvements to the network, including:

Improved error checking in the transaction APIs and logging of errors to the block explorer. New APIs to support quantum swaps and asset gateways. Improved PoS consensus mechanism for better distribution of tickets. Improved difficulty calculation to reduce chances of chain splits. Improved API calls for purchasing tickets for staking to restrict multiple ticket purchases on the same block on the same gateway. Improved boot node and discovery support to enable quicker node discovery. Improved database transaction support to ensure public block explorer stays in sync. Updated the core Ethereum code section to the stable version 1.8.16. Begun API and example documentation repository which can be found at fusionapi.readthedocs.io.

PSN 1.0 Staking Reward Distribution:

As explained in PSN: Staking Rewards Explained, Fusion Foundation is rewarding staking validators at a ratio of 0.625 ERC20 FSN and 2.5 P-FSN tokens for block packing on PSN.

The reward program for PSN 1.0 ends with the final reward block height of 328,000. All ERC20 FSN and P-FSN will be allocated on April 15th, 2019.

Fusion’s CTO Bret Schlussman has written a simple program to calculate block rewards for PSN 1.0 and provided a table to check your balance.

The source code for Bret’s calculation is available here. Instruction for running program is available here.

How Can I Access My Rewards?

After the launch of PSN 2.0, Fusion launched an oracle application called the Application Reward Module (ARM). The ARM uses the data from the calculation script discussed above to distribute rewards to the stakers’ public address. The P-FSN tokens are distributed from Fusion Foundation’s account to the relevant address. Fusion Foundation creates a new native asset on the PSN ecosystem using the ‘Create Asset’ function. The new asset is called ERC-20 FSN and the supply is equal to the block height of the last reward block of PSN 1.0 * 0.625. The amount is: 328,000 * 0.625 = 200,000 Total Supply of ERC20-FSN. The newly created ERC20-FSN is a certified asset that can be locked-out of the PSN ecosystem via Fusion’s asset gateway to the Ethereum network.

Time-Locked Rewards

If the staker’s address was not on the original genesis block or if the wallet balance of the staker’s associated address on the Ethereum network has reduced since the snapshot, then the staker will receive time-locked ERC20 FSN rewards. The time-locked ERC 20 FSN will be from 1 year following the distribution date until infinite (1 year, ∞). Any complete and time-locked ERC20 FSN balances that exist on PSN 2.0 will be transferred automatically to main net when it launches. Time-locked ERC20 FSN cannot be locked-out via the Asset Gateway but has to remain in the Fusion ecosystem. The owner of time-locked ERC20 FSN can Quantum Swap it for complete ERC20 FSN in the Quantum Swap marketplace and lock-out today.

PSN 2.0 brings Fusion closer to creating a digital financial ecosystem with seamless value transfer by enhancing Fusion’s Asset Creation tool and introducing the Quantum Swap library.

Relevant links for the PSN network:

PSN Wallet

PSN Block Explorer

PSN Node Monitor

PSN Auto-buy Ticket

PSN API Gateway

Overview of the PSN

How-To Guide on staking and earning rewards on the PSN

Over the last few weeks, the team has been hard at work building out the Fusion/AXP proof-of-concept (POC). They are excited to provide an update on their progress and a description of the frameworks they are implementing to make Fusion an extensible platform for solving real-world problems.

As with any POC, the overarching goal is to develop a bite-sized and practical workflow that enables the team to quickly identify areas of improvement and iterate. As their concepts mature, they will layer in additional business logic and features.

The first phase of the POC has three primary goals:

Create Person asset Create Vehicle asset Create Loan asset

The team choses a subset of person/vehicle/loan information as well as their associated metadata from AXP’s database to serve as working data. Any sensitive information (such as real names) was replaced with dummy information.

Enhancing Asset Features with Attributes

The first step was to enhance Fusion’s asset creation library with a rich attribute framework that is able to store data of different types, size, and privacy settings. These attributes contain descriptive information that help the team categorize assets, uniquely identify assets, and trigger business logic. Examples include vehicle make and model, consumer credit scores, birthdays, and loan numbers.

Fusion’s attribute framework is engineered with a two-layer system, on-chain and off-chain, which can be mixed and matched based on the application needs.

1. On-chain: The team added functionality for users to create attribute name/value pairs, which are replicated on-chain. This array of attributes is analogous to the ERC-721 “metadata” library. Data in these name/value pairs are small and use pointers to external data solutions for storing large data.

2. Off-chain: The team created an off-chain attribute gateway, which gives users fine-grain control over read/write abilities based on user-roles and allows applications to find assets based on attributes in a performant manner.

Role creation and attribute permissions associated with roles for off-chain Attribute Gateway

Creating Assets: Person and Vehicle

The next step was to create a digital asset representation of the Person and the Vehicle, configure the details of who can set metadata, refine user permissions and views, and determine when and how to set relationships between Person and Vehicle. Describing all the considerations is beyond the scope of this update, but the team wanted to highlight some concepts around assets:

1. Person — The team created private/public addresses that have dual function, serving as the unique identifier for the person as well as the user’s application login.

2. Vehicle — Each vehicle asset is uniquely identified by its Vehicle Identification Number (VIN). All physical attributes, car history, transactions (rentals, loans insurance), government registrations, even telematics will all be linked to this vehicle asset.

Person Data in Attribute Gateway. Note the identification of each person by their unique wallet address.

Vehicle Data in Attribute Gateway.

A view of vehicle assets through the Fusion wallet of a loan administrator.

Vehicle Asset in Loan Application UI starting to come together.

Person Asset in Loan Application UI.

What’s Next?

Fusion focus now turns to:

Creating the loan asset that links the Vehicle to the Person Modelling the loan cashflows through time-locks and quantum swaps Continuing to build out the application UI to the standards of their UX designer.

Fusion: Modelling Debt Instruments.

In this video the team explores how Fusion’s time-based transaction ledger can be used to readily express debt instruments on the blockchain.

0:14 — Introduction to Debt Finance

2:29 — Modelling Debt Without Interest Using Quantum Swap and Time Lock

6:03 — Modelling Debt with Interest Using Quantum Swap and Time Lock