Fusion Foundation, the non-profit open source developer building infrastructure for decentralized finance, has announced that it has been selected by Directed Acyclic Graph-based (DAG) interoperability protocol, Ferrum Network, to serve as a technological pillar for Ferrum’s cross-chain interoperability network.
Ferrum is a decentralized interoperability network that enables the management, transaction, and exchange of any digital asset without taking custody of users’ assets. Built on a DAG network, Ferrum is faster, less costly and more scalable than traditional blockchains. Ferrum’s high-speed interoperability network supports financial apps such as a fiat gateway and an advanced non-custodial crypto wallet designed to empower millions of people around the world.
The coordination between Ferrum and Fusion will enable a faster, more reliable interoperability network by leveraging Fusion’s Distributed Control Rights Management System (DCRM). DCRM is a patented technology module that enables users to lock-in and lock-out multiple assets across blockchains without surrendering private keys. In addition, through Fusion’s universal short account number (USAN), multi-token digital asset management is a simple and secure process.
“Fusion and Ferrum share a similar vision – to use blockchain technology to connect financial systems for the benefit of end-users. We are excited to be working with Fusion to play our role in that bigger picture,” said Naiem Yeganeh, Ph.D., Co-Founder, and CEO of Ferrum Network.
“Advancing the Internet of Value takes coordination and determination from a variety of partners,” said Dejun Qian, Founder, and CEO of Fusion. “By partnering with an innovative and forward-looking organization like Ferrum, we believe that we can realize that vision of a decentralized, interoperable world even faster.”