Web3 payments revolution startup Fuse Network announced the release of ‘Fuse 2.0.’ alongside a new roadmap, whitepaper, and fresh branding aimed at bringing crypto payments to the mainstream global economy.
Fuse, a top 10 blockchain in terms of the number of daily active wallets connecting to its dApps, today unveils a payments network that enable businesses that are not technically or crypto-savvy to provide a blockchain-powered user experience.
Fuse 2.0 is focused on providing an array of Web3 payment services built on the foundations of a decentralized identity solution, including the network to core business-ready infrastructure and white-label mobile wallets. To fit to scale, Fuse 2.0. introduces the concept of Operators and Power Validators to provide scalable Web3 business infrastructure that is easy to navigate.
“To drive widespread adoption, we must focus on competing with the dominant players like Visa, Mastercard, and Stripe rather than Ethereum or any other blockchain. So we built a fully interoperable and open-source one-stop shop to help businesses uncover the value added from the decentralization of finance,” says Fuse Network CEO Mark Smargon.
Smargon further explains that the new structure divides the network into three layers served by merchants, Operators, and validators. The consumer layer consists of merchants building Web3 applications for their end users using the Fuse tech stack, specifically the Charge platform.
Fuse 2.0. abstracts network fees to remove complex blockchain actions and give users a similar experience to what they are used to with Web2 finance apps like Venmo or Revolut. To do that, transactions are processed, and fees are paid by Operators, not end users.
Meanhwile, Power Validators supply the services Operators require to build functioning Web3 apps such as node infrastructure and oracles. The Operators purchase these services to resell them to their customers, filling the demand side.
Rather than outlining their vision in a lengthy article or academic paper, Fuse CEO Mark Smargon will be live from ETHTLV and Fuse HQ in Tel Aviv to unveil more on Fuse 2.0 throughout Q1 2023. During the week, Fuse will also announce an updated technical roadmap alongside a refreshed White Paper that outlines the vision and their plan to scale crypto adoption through business use of Web3 payments.
Fuse provides a blockchain as a service platform that enables businesses and developers to incorporate payments powered by Ethereum Virtual Machine (EVM)-compatible Fuse Network blockchain into their products, even without prior blockchain development experience.
The company aims to enhance blockchain-powered payments that have the potential to address major flaws in the existing payment system. This includes high transaction fees, excess intermediation, geographic fragmentation, frequent lack of interoperability between platforms, chargebacks, hidden interest, and more.