History of Fuse
Fuse started with the launch of the Fuse Network blockchain in 2019 when few people believed Layer-1 chains other than Ethereum could be seriously viable.
Over the three and a half years that followed, the platform went a long way. It saw the switch from a proof-of-authority to a delegated proof-of-stake consensus with open validation, the launch of the native token and delegated staking, and the emergence of a diverse community of users and token holders.
Meanwhile, the platform processed more than 120 million transactions, with users creating more than 1.3 million accounts (unique public addresses).
A vibrant ecosystem has also grown on Fuse, including decentralized finance (DeFi) platforms, NFT marketplaces, oracles, wallets, on-ramps, digital UBI, and many others.
From very early on, the Fuse team also started developing and experimenting with an open-source infrastructure aimed at helping businesses, organizations, and communities plug Web3 components into their products and activities.
Initially, the Fuse Studio environment was geared toward the no-code issuance of tokens and creating environments (payment communities) around them. The Fuse core wallet served as a gateway for onboarding users.
The experience of working with teams behind those initiatives has taught us that to be attractive and relevant for real-world businesses, the web3 payment infrastructure should be refocused from simple, no-code launch and on-boarding to the development of mainstream developer-friendly APIs and SDKs and a customizable, forkable front-end.
This approach enabled the launch of promising real-world-focused projects, including Bitazza's Freedom Wallet platform and the Peepl project that gave rise to YourGaff, The Guide, and Vegi.
Recently, Fuse infrastructure has been consolidated under the developer-focused Charge service, an API-first platform that lets developers easily integrate Web3 solutions into their products/services.
The main rationale is to make the interaction with the infrastructure more straightforward and frictionless for non-crypto-native developers used to working with APIs under the software-as-a-service (SaaS) model.
However, although the consolidation of the B2B infrastructure under the Charge umbrella has made it even easier for businesses to start implementing Web3 payments on Fuse Network, we also realized that on its own, the centralized Charge platform could not provide the whole scalable and robust infrastructure required for seamless mass business and consumer adoption.
That is why we have published a new whitepaper announcing the upcoming transition of the platform to Fuse V2.