Ethereum is a trailblazer in the cryptoeconomy right now because it empowers not only decentralized finance, but also decentralized culture. This dynamic has paved the way for subprojects to experiment at the crossroads of finance and culture in ways that were never previously possible.
Among these interesting efforts has been Fuse, a protocol that’s focused on powering microeconomies atop Ethereum.
As such, in today’s post we’ll be exploring what Fuse is: how it works, why it matters, and where the project is at in the cryptoeconomy presently. Who knows what happens next, but Fuse may be a project to watch accordingly.
What Is Fuse?
“Fuse enables businesses and communities around the world to unleash the power of mobile payments,” the project’s FAQ explains.
In short, then, Fuse provides open-source, non-custodial infrastructure for brands and online communities to upgrade “into thriving micro-economies by providing them the tools to build and maintain their own custom-branded mobile wallet and currency.”
This kind of thrust pushes right into Ethereum’s culture sector, which has proven red-hot lately on the heels of recent considerable advances around the platform’s DAO, personal token, and NFT arenas.
Fuse’s 3 Core Elements
The Fuse project has three main pillars: Fuse Wallet, Fuse Studio, and Fuse Chain.
The first product is a “cross-platform mobile wallet” that’s designed to cater to “both
crypto and fiat currencies.” This wallet is key, as it helps users interact with the Fuse ecosystem at-large.
Then there comes the Fuse Studio, which functions as a streamlined self-service contract that gives businesses the ability to “create their own custom-branded currency and wallet in a few simple steps.”
Lastly, there’s the Fuse Chain, a Distributed Proof of Stake (DPoS) blockchain that’s pegged to and interoperable with Etheruem, meaning tokens can move easily between the…