ICO News FLETA

The Platform for Sustainable DApp Ecosystem

FLETA is a unique blockchain protocol improving on all preceding models. Utilizing advanced features and a highly efficient block processing mechanism, FLETA seeks to be the answer to the problems in blockchain. Join us in our transcending journey to become the fastest and most secure protocol in the space.

ABOUT FLETA

FLETA is a multi-chain structure in which independent sub-chains are operated by their respective DApps. The mainnet cannot be overloaded even with an infinite increase in DApps operating on the platform. The DApps can independently operate without any hindrance in performance despite any increase in activity on sub-chains. As the sole platform that can sustain such an enormous DApp ecosystem without any limitations, the value of the platform and its pertaining DApps will steadily rise. FLETA makes use of its unique parallel sharing algorithm to allow for 20,000 TPS per each individual shard, all without double payments. And to create an idealistic DApp-central platform, we seek to operate a realistic number of shards; if 500 shards operate without problem, that amounts to 10 million transactions per second, a number we can realistically offer unlike competing protocols. On the FLETA platform, DApps with tokens run not on the main chain but on a DApp-exclusive independent chain. That is, the Token Economy is realized through various modes of consensus as selected by independent DApp developers. Each DApp’s respective token can be mined independently via a preferred method of consensus (including but not limited to PoW, PoS, or participation through a voting process) The Token Economy is the driving force behind the growth of FLETA and its DApps, and will be one of the strongest motivators for many utility tokens to work with FLETA.

FIRSTCHAIN, THE FOUNDER OF FLETA,

all started from one question:

“What Platform could resolve the issues facing current blockchain platforms and create a sustainable blockchain ecosystem?”

The first generation blockchain platform, Bitcoin resolved the double spending issue of cryptocurrencies.

Following Bitcoin was Ethereum, the second-generation blockchain platform, who realized the diversity of services in the blockchain platform via smart contract.

Yet, most blockchain platforms are showing limits in terms of scalability, data-processing speed, data storage, and execution fees.

For blockchain platforms to take on sustainability and be operated in such a manner, developers should be able to develop DApps without any hassles, and users should be able to use it readily. It is with this in mind that FLETA came up with an optimal platform, meeting the needs of the platform participants, with our advanced technology.

TECHNOLOGY

Independent Multi-Chain Structure

FLETA utilizes an independent multi-chain structure, with the existence of a sub-chain apart from the main-chain, resolving the main-chain overload issue and reducing excessive fees both for developers and users. That is, by separating the performance of the main-chain and the data domain, each DApp is operated independently, without being mutually influenced, leading to a limitless number of DApps being available. This in turn, results in the reduction of excessive development costs of DApps and execution fees caused by using DApps.

PoF Proof-of-Formulation

FLETA developed a new consensus model, preventing unnecessary fork, along with an improved speed, which distinguishes itself from the existing consensus models like Staking. This new consensus model is called PoF(Proof-of Formulation), consenting the order of block mining and creating blocks in such order. The spreading range of blocks is reduced, which makes the creation and dissemination of blocks more rapid. Moreover, real-time confirmation can be attained through observer node, also preventing potential unnecessary fork.

Block Redesign

Block’s structure is the pillar of the blockchain, which directly leads to the processing speed and storage capacity. FLETA has redesigned the block structure, which had been used since the initial stages. This was accomplished by reducing the blocksize by 43% and at the same time reducing the size of index, which is needed for operation. Thus, the processing speed became 1.8 times faster and data size has been optimally reduced, making the structure more efficient.

LEVEL Tree Validation

Unlike the Merkle Tree validation, which is constantly undergoing a great deal of calculation, FLETA adopted the LEVEL Tree validation. Reducing the size by 90%, the LEVEL Tree validation carries out a high quality transaction validation process with less data reception, concurrently increasing the speed of the process by more than 5 times.

Parallel Sharding

The Sharding Algorithm, which FLETA developed, can be operated in parallel, without double spending, as each shard is separated so that the data is not shared among them. Additionally, the enhancement of TPS is achieved with the increase in the number of shards, along with the enhancement of TPS in each shard, making FLETA process 20,000 transactions per second. We are proud to report that this is the fastest TPS of individual shards among existing blockchain projects.

ABOUT FIRSTCHAIN

FirstChain is a company consisting of experts from diverse fields; to include an IT entrepreneur, business development expert, marketing strategy expert, branding expert, financial expert and many more. By assembling this group of professionals, FirstChain is able to benefit from all the technological skills, expertise in the social values of blockchain and the innovations they bring to the table.

INITIAL STEP OF FIRSTCHAIN :

FLETA, a Blockchain Platform

FirstChain started with the FLETA Project, a blockchain platform where participants in the blockchain ecosystem gather and develop together. This collaboration is the value of blockchain platforms. It is FirstChain’s objective to create a sustainable blockchain ecosystem, based on its platform, satisfactory and accessible to both developers and users.

Extensive Global Network

FirstChain was the first Korean Blockchain Startup to establish a corporation in Malta, the aptly dubbed ‘Blockchain Island’. In a blockchain-friendly environment, FirstChain plans to advance its technology and business, while collaborating with experts from all over the world; Japan, China, United States, Israel, Switzerland and etc.

Experts from Diverse Backgrounds & Professional Experience

FirstChain began with a foundation of friendship and trust, as the founders were longtime friends. The startup, was initially comprised of an IT entrepreneur, a business development expert and a financial expert. This was followed by the joining of a marketing strategy expert, a branding expert and a communication expert, creating a talent pool filled with diversity and expertise.

FLETA ROADMAP

Q3 2018

Complete Development of PoC Code.

PoF (Proof-of-Formulation).

Block Redesign.

Q4 2019

Unveil Web Simulator:

PoF (Proof-of-Formulation).

Block Redesign.

Complete Development of PoC Code:

Independent Multi-Chain Structure.

Smart Contract.

Q1 2019

Open Testnet

Complete Development of PoC Code:

Parallel Sharding.

Open Mainnet

Q2 2019

Update Testnet:

Parallel Sharding.

Plan FLETA’s own DApp Project

Q3 2019

Update Mainnet:

Parallel Sharding.

Open Developer Portal (Beta)

Q4 2019

Open Developer Portal

Open FLETA’s own DApp (Beta)

FLETA TEAM

Paul Park: CEO

Henry Hong: COO

Peter J: CFO

Scott Park: CTA/Director

Jason Kim: Director

Gerrard Kim: Director

Bina Cho: Director

Sam Jeong: CTO

Soo Kim: Head of Branding

ADVISORS

Sven Moeller: Head of Tokenization Services, Swisscom Blockchain

Akira Munekiyo: Founder of A-tma Inc. Entrepreneur & Angel Investor

Yabo Cui: Co-Founder at Coin Tokyo & Advisor at Deloitte

Mickey Kim: Director of Asia Pacific Business, Google Hardware

Doo Hee Lee: Acclaimed Programer

Yoon Kim: Senior Advisor at Corent Technology Former CEO of Motorola Korea

Sam Soo Pyo: Senior Advisor at Kim & Chang Former CEO of Oracle Korea

Dong-Yun Lee: Advisor at Mirhenge Former Director of IBM Asia Pacific

Kyung-Mo Lee: President of ITT

Hae Won Choi: President of Linn Consulting Former CEO of SAP Korea

Young Jin Son: Former CEO of CISCO Korea Former CEO of Microsoft Korea

Website | http://www.fleta.io/

Medium | https://medium.com/fleta-first-chain

Twitter | https://twitter.com/@fletachain

Telegram | https://t.me/FLETAofficialGroup

Thank you from me: Ket tumbat

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2202323

ETH Address: 0x5A165374202E9648061144684846Afb8469645bf

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