FLETA is a blockchain platform that supports the development of decentralized applications (DApps) and provides developers with all the tools to create them.
Besides, another goal of the FLETA platform is to maximize the potential of blockchain technology. The blockchain technology really started out with the invention of Bitcoin but has become so much more. The blockchain technology is currently being used and tested in most industries, however, blockchain-based DApps are still in their infancy and hard to find.
That’s why FLETA is trying to create a full and perfect ecosystem for DApps in order to help the whole blockchain receive more adoption.
The Scalability Problem Faced by Most Projects
Scalability has always been an issue for most cryptocurrencies, including Bitcoin. The main argument is that if Bitcoin or any other cryptocurrency intends to become a world-wide payment system, it needs the capability to process a lot of transactions. For instance, Visa currently does around 1,700 transactions per second, a number that dwarfs Bitcoin’s 4.6 Tx/s.
The only solution for existing cryptocurrencies is a hard fork, something that Bitcoin has experienced several times but hasn’t changed anything. The scalability problem has been unsolved for a long time even though organizations are increasingly adopting blockchain technology.
A lot of blockchain projects have tried to solve the scalability problem and some of them have been able to do it but were not able to succeed in other areas.
How Did FLETA Solve the Scalability Issue
FLETA uses what is known as a multi-chain structure. The main chain of FLETA is on the bottom with the sub-chains operating on top of it. Whenever a DApp is added into the ecosystem, the data chain is expanded which means the whole blockchain is expanded.
Every single DApp operates independently on the FLETA platform. Whenever a DApp is created a sub-chain is also created. This allows the DApp manager or creator to carry out updates or data migration on his own.
FLETA is able to achieve infinite scalability because of the separation of data. Each sub-chain is maintained by the Formulator group of each DApp.
Another innovation of the FLETA platform is the use of parallel processing of transactions. FLETA allocates transactions to specific shards using pre-determined rules, the result is processed independently in each shard.
Although shards have their own chain and they are not mutually connected, one account can still access all sharts using the same key and address. These are basic tools to prove authenticity. This doesn’t mean that the contents of blocks or transactions are hidden from the public, anyone is free to check the contents without having to own a key or address.
This system also nullifies the possibility of ‘double-spending’ as each shard operates in a parallel structure. Additionally, this system also allows FLETA to achieve high transaction speeds.
Ultra High Speed (TPS)
The FLETA platform has been able to achieve extremely high transaction speeds. FLETA uses a ‘Geolocational Balanced Peer Selection Algorithm’ that enables blocks to be distributed at a fast pace while maintaining balance.
This system is specifically designed to connect peers using a geolocational balance, the distance between peers is determined using ping, the network automatically calculates and creates as much distance as needed in order to make all transactions as even as possible.
The transaction ID on the FLETA blockchain uses the block height and the transaction ‘location’ instead of the traditional transaction hash. This means that a big index is not needed and the instant transaction searching also reduces index and data volume. In order to validate a transaction without using the transaction hash, FLETA enables verification to be made via signature.
Additionally, blocks that were 560 bytes are reduced to under 360 with the new and upgraded FLETA block structure. FLETA has adopted a new verification method called the LEVEL Tree verification method that replaces the traditional Merkle Tree and enhances transaction speed. This new method allows verification speeds to be more than 5 times faster.
FLETA makes use of new technologies in order to achieve infinite scalability as well as higher transaction speed.
FLETA has been able to solve both problems using innovative technology that allows decentralized applications to be built easily and with almost no cost.
FLETA’s mission is to help DApps operate on their own. Each DApp on the FLETA network has its own subchain and nodes.
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