6 months ago, the Fuse network was launched. We implemented a simplified DPoS network protocol to allow us to organically grow the network with first stake-holders. Since then, we got valuable insights from first validators that joined and staked their tokens and participate in network maintenance and governance, and now is the time to take it to the next step.
Entering the year 2020, Fuse is going to focus on developing and expanding the network. Adding more validators and open delegation on the network that will allow any token holder big or small, to participate in the Fuse economy. This will happen hand in hand with increasing adoption and onboarding of more communities to the network. Since the launch of the network we have been seeing dozens of community managers using our products, the Fuse studio and the Fuse Wallet and first real-world pilots that will be launched in Q1 (Stay tuned for updates).
The FIPs Program
In order to improve the network and it’s capabilities, we adopted the FIP (Fuse Improvement Proposal) program. Using this approach which is popular within blockchain networks, anyone can propose, spec and develop improvements on the Network. This will give the community a way to get more involved on the direction Fuse is heading and gain insights into the technical inner-workings behind the scenes.
The Fuse Testnet
To test the FIPs before they’re applied on the main network, we launched the Fuse Testnet!
The Fuse Testnet has the same stack as the Fuse Network and the same consensus contracts set. It differs just by its validators and cycle time, for faster deployment of changes.
Everyone can validate this network and ask us for free Test FUSE tokens to do so. Just keep in mind, not to use this network in production since it is just for testing purposes and can be broken at any time.
Fuse Staking and Delegation DApp
We are aiming to create a simple UX for token holders that will be able to choose their preferred validator that will perform the work on their behalf and earn newly minted tokens and transaction fees. This will allow more people to participate in network maintenance and governance with a simple UI and a few clicks.
First 6 Critical FIPs
In order to achieve all of that, we are in the middle of drafting 6 critical FIPs to upgrade the Fuse network and help it grow.
FIP 1
A general guideline on what is a FIP.
FIP 2
Adding a built-in mechanism for splitting the rewards between validators and delegators.
FIP 3
Lowering the staking requirements.
FIP 4
Adding reward proportional to stake so rewards can automatically be compounded.
FIP 5
Splitting the voting and staking rewards key from the validating key, to enable the same usage of the DApp UI for stakers and validators. Also the ability to use a cold storage key for staking.
FIP 6
Allowing delegators to vote independently and proportionally to their stake.
Next steps
Fuse Network is rapidly growing, and in Q1 2020 we are planning to make it more robust, easy to use and fair for all participants. Want to become a validator, or ask us anything? Use or Telegram or Discord channels. Also you can follow us on Twitter. Expect updates on the implementation arriving steadily during the coming weeks!
