Ticketed Proof of Stake (TPoS)

Like many other chains Fusion started out as a fork of Ethereum. This means that it uses the exact same type of cryptography as Ethereum, so if you control an address on Ethereum you can also control that address on Fusion as long as you have the private key, or store it on a hardware wallet. There are however differences between Fusion and Ethereum.

What is proof of stake?

Read more about proof of stake here: https://www.investopedia.com/terms/p/proof-stake-pos.asp

Fusion's proof of stake

Fusion was right from the start a Proof of Stake protocol. More specifically a system called Ticketed Proof of Stake (TPoS), where an owner (current time) 5000 FSN may purchase a ticket for a chance to sign a block with their anonymous node.

State of the network

The current state of the network can be viewed in the node monitor. Compared with networks of similar evaluation the diversity of nodes, is quite good and the amount of staked FSN is high.

Advantages of proof of stake

There are several advantages with being a proof of stake Ethereum fork.

  1. Ethereum is the most used chain. Being fully compatible with Ethereum is a more certain way to stay relevant in the crypto sphere than trying to build an entirely different chain-type. It also means that tools built for Ethereum can also be used for its forks. If a project wishes to move from Ethereum to somewhere else, the process of moving to a good fork is much easier than trying to move to a different type of chain entirely. Ethereum is also constantly evolving and as it is further improved, these improvements can also be applied to an up to date fork

  2. A proof of stake consensus that is open to anyone, has the advantage of full decentralization and openness, while the nodes are always incentivized to do what is best for the network as to not see the value of their holdings diminish

  3. A proof of stake consensus also has the advantage of being much more efficient compared to a Proof of Work consensus making network performance an unlikely barrel-stopper for the success of the network (something Ethereum has suffered many years, despite having become so popular and highly adopted).

Are there any disadvantages to being a Proof of Stake Ethereum Fork?

Yes, there are a few and sometimes they are the same as the advantages.

  1. There are many Ethereum forks, and as such being such might seem as "unoriginal" or "copycat-like" in the crypto-space.

  2. The fact that Ethereum is constantly updated also puts pressure and effort in keeping the chain up to date with all the latest. Sometimes this can come into conflict with developing things that are entirely unique and the uniquely built features may not always mesh well with the latest updates.

  3. I'd argue that the Proof of Work consensus is a waste of energy and holds 0 advantages over a Proof of Stake one but there is another consensus model called Proof of Authority, where all the nodes are known and more control can be had over their performance. Thus PoA holds performance advantages over PoS, while PoS means that the network can be truly decentralized and open to anyone.

Thus nothing is perfect, and everything has its advantage and disadvantage, but in my opinion, an open to anyone Proof of Stake Ethereum fork holds a lot of potential to stay relevant for all time - especially if they were early.

How can I stake and get rewards?

​Check the "Tutorials" section for more info about staking options and getting rewards.