What Is Fuse Dollar(FUSD)?
Fuse Dollar is a decentralized payments-focused platform powered underneath by the fast and low-cost Fuse Network blockchain. Fuse is a decentralized blockchain-powered platform and technology stack whose goal is to enable genuine mass adoption of crypto payments and decentralized finance (DeFi). The project was launched in 2019 by a team formerly involved in building the Colu project aimed at bringing local currencies to the blockchain.
| Coin Basic | Information |
|---|---|
| Coin Name | Fuse Dollar |
| Short Name | FUSD |
| Circulating Supply | 505,065.00 SUUPER |
| Max Supply | 10,187,018 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Flexible Price
The live Fuse Dollar price today is $0.994854 USD with a 24-hour trading volume of $5,059.84 USD. They update our FUSD to USD price in real-time. Fuse Dollar is down 0.16% in the last 24 hours. The current CoinMarketCap ranking is #6222, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.
The Problem
Fuse Dollar currently existing financial system falls way short of the objective of providing the people globally with access to fast, frictionless payments, attractive financial services and passive income opportunities. This is especially relevant for the developing countries. Hundreds of millions of people there lack access even to the basic banking services, let alone access to more advanced financial opportunities. They also often have to transact using highly unstable fiat currencies, prone to episodes of sudden profound devaluation.
At the same time, even in the poorest countries, the pace of mobile phone adoption has been staggering. In sub-Saharan Africa, more people have access to mobile phones than to clean drinking water. In addition to this, the rise of blockchain technology and cryptocurrencies has finally created the possibility for potentially anyone on the planet to send and receive funds without the permission of any entity, using currencies that cannot be manipulated.
What the crypto industry still lacks
However, while Fuse Dollar are observing a lot of activity in the crypto space (especially in the crypto asset markets, and the DeFi and NFT sectors), genuine mass adoption of crypto payments and DeFi is still not there.The currently available products and tools, with their complicated and disparate UX, are mostly geared towards sophisticated crypto users with significant financial means.
Platform Components
The Fuse platform has three main components:
1) The Fuse Network blockchain. The EVM-compatible public blockchain is the decentralized, permissionless backbone of the Fuse platform and ecosystem.
2) The mobile-centric open-source technology stack for adopting token payments. This includes the Fuse Studio backend and the Fuse Wallet technology.
3) A set of reference decentralized finance (DeFi) products and tools. The goal of these is to pave the way for the initial adoption of the platform.
The Fuse Network Blockchain
Network Overview and Key Metrics
Fuse Dollar Network is the decentralized EVM-compatible public blockchain that powers the Fuse platform and ecosystem. It is fully compatible with Ethereum meaning that any smart contract that can be deployed on the latter can also run on top of Fuse Network.
The Fuse Network blockchain uses a variant of delegated Proof of Stake (dPoS) for achieving consensus. The consensus is secured by a significant number of independent validators, only one of which is run by the Fuse core team.
Validators are also responsible for the most important type of governance on Fuse, namely, adopting the network protocol changes via Fuse Improvement Proposals (FIPs). The native token of the network is called FUSE.
New Fuse Dollar tokens are issued with every added block and are also use to pay for gas, just like ETH on Ethereum. The Fuse Network blockchain is designed to ensure fast block confirmation times and a low cost of transactions.
The average block interval on Fuse is around 5 seconds, and it currently costs much less than $0.01 to get a transaction confirmed.
In its present capacity, the Fuse Network blockchain is capable of processing around 120 native token transfers and 60 ERC20 token transfers per second. The faster processing of native token transfers is due to the fact that they do not involve computations run on the network’s virtual machine.
Fuse Token (FUSE)
The Fuse Dollar token is the native currency of the Fuse Network blockchain and platform, just like ETH on Ethereum.
FUSE utility:
- Transaction fees Being the native currency on the Fuse blockchain, FUSE is required to pay fees to the network in order to approve transactions.
- Validation Token holders can stake Fuse to become a validator. The minimal staking requirement is 100K. The network is growing, currently there are 50+ validators. (https://health.fuse.io/)
- Voting Validators vote on protocol changes with their staked Fuse. Which means validators with higher amounts of Fuse staked can have a bigger vote on network upgrades and governance changes (until phase 2 where delegation is activated)
- Staking (for delegators) Any FUSE holder can choose one or more validators to delegate any amount of FUSE they wish. They receive a share of the Fuse block rewards proportionate to the share of their stake in the total stake, minus the minimum 15% fee paid to the validator(s).
- Payments As FUSE is the native currency on Fuse Network, sending it does not require interactions with smart contracts. Thus, FUSE transfers are potentially faster and less costly in terms of transaction fees.
