New York, May 17, 2019 (GLOBE NEWSWIRE) -- Fusion Foundation, the non-profit organization building the next generation infrastructure for decentralized global finance, today announced that Fantom Foundation has selected Fusion’s cutting-edge interoperability solution to expand the accessibility and reach of Fantom’s Direct Acyclic Graph (DAG)-based distributed ledger.
Fantom’s DAG-based distributed ledger technology (DLT) incorporates new methods of scalability, combined with a high-performance virtual machine, and secure smart contract execution. Its ground-breaking consensus mechanism employs “gossip about gossip” rationale to reach Asynchronous Byzantine Fault Tolerant (aBFT) consensus, which is considered to be the gold standard in security for distributed systems.
The Fantom protocol supports sophisticated peer-to-peer communication that emulates the spread of gossip. With speed and flexibility, Fantom’s network is being built to serve as the backbone to power smart cities and lightning fast payments.
“Fantom has made impressive progress with their protocol to provide a highly performant information and transaction sharing layer. We are excited to broaden their compatibility with our interoperable DCRM solution,” said Dejun Qian, Founder and CEO of Fusion Foundation. “DCRM will soon be the standard for digital asset interoperability, and we are excited to see more and more projects integrating it into their systems.”
The first step in the collaboration is to integrate Fusion’s Distributed Control Rights Management (DCRM) interoperability solution with Fantom’s high-speed network. As a result of the integration, the Fantom network will become compatible with other blockchain and legacy systems, vastly increasing network accessibility while fast-tracking adoption.
“Fusion’s DCRM technology achieves new levels of digital asset connectivity that impressed our technical team,” said Michael Kong, Chief Information Officer of Fantom. “We look forward to integrating it into our technology stake to enable the unrestrained transfer of value across the Fantom network.”
The partnership between Fusion and Fantom will empower ecosystems with loosely aligned participants, such as city transportation systems, to advance the digital revolution.
About Fusion Foundation
Fusion Foundation is a non-profit organization building the next generation infrastructure for decentralized global finance. By providing innovative companies and developers with the open source technology they need to build peer-to-peer time and value-based applications, the world will enjoy financial transactions that are more accessible, efficient and transparent than previously possible. Fusion’s seasoned team of industry veterans led by Founder and CEO DJ Qian, a blockchain pioneer who previously launched two top 20 global blockchain projects (VeChain and QTUM), is working to collaborate with financial institutions, cryptocurrency companies, businesses, peer-to-peer lenders, third-party app developers, academia, and the broader blockchain community. By providing the foundation that enables different cryptocurrency tokens, digital assets, off-chain values, and data-sources to be created and exchanged between the Fusion blockchain, other blockchains and financial systems, Fusion is moving ever closer to a globally accessible system for the free exchange of values. Visit www.fusion.org to learn more about Fusion and its partnership program.
About Fantom
Fantom is a new network that proposes a groundbreaking consensus mechanism which utilizes gossip about gossip to reach aBFT consensus. The developers behind Fantom consider themselves to be specialists in consensus, holistic consensus. They're building the network and the backbone to power smart cities and blazingly fast payments. For more information, visit www.fantom.foundation.