FLETA Hosted AMA with CryptoDaku
FLETA hosted AMA with CryptoDaku. Many community members of CryptoDaku asked diverse questions about FLETA, and here we share some of those questions.
Before we start AMA, we would love to know about you. Can you tell us about how you stared in crypto?
Hope you are staying safe these days!
This is James Song, Head of Global Business at FLETA.
I have been with FLETA over two years now, and glad to be here!
FLETA and I have the same vision for the blockchain industry: commercializing blockchain in our daily lives.
That’s how I started with FLETA and making it come true :D
Can you tell us all more about your project, the idea, and how it started?
As you briefly stated, FLETA is a blockchain mainnet platform providing a sustainable ecosystem.
We started off by solving problems that existing mainnets have; speed, fee, and scalability. With our five tech innovations, we were able to launch a fast and scalable mainnet last November.
What are the next 100 day plans for you?
Will mainly focus on Mainnet Update, finishing up the dev docs, Gateway integration & partnerships, DApp use cases, and exchange listing.
As a developer, I would like to know what programming language you use on your platform. What are the benefits for developers on FLETA platform? Is there a plan to hold any campaign/ hackathon in the future?
An online hackathon is planned later this year as well!
Make your idea come true on FLETA!
How does FLETA enhance the independency & scalability of DApps?
Independent Multichain is one of our key techs.
Thanks to Independent Multichain technology, side-chains do not belong to the FLETA main chain. Instead, we provide a completely independent chain for each DApps. Likewise, since DApps do not affect each other’s chain, the mainchain never overloads.
Can you share more details about PoF regarding block size and the block confirmation time and your South Korean government association? Is there any new big announcement coming?
PoF(Proof of Formulation) is our unique consensus model. In PoF mining ecosystem, every mining participant can participate in mining without any resources being wasted.
FLETA developed its own technology, Block Redesign, reducing the size of blocks by 43%, and the block time of FLETA is 0.5 seconds.
How do you prevent double-spending?
We have 5 Observer Nodes that confirm blocks as soon as they are generated. At least three of five Observer Nodes should confirm the blocks, and this whole process prevents double-spending.
These are some of the first steps in expanding into different regions. Can you talk more about your expansion plans and target markets/industries? Are you focusing on any particular industry or sector? Education, commercial/enterprise?
We have a strong presence in Korea and are willing to expand to global markets. We have started building the Chinese community and also plan to create a Turkish channel as well! Our target audience is not limited to certain regions! Join us!
Please tell us more about your partnership with KardiaChain.
Our chains will be integrated by using FLETA’s Gateway System when they launch their mainnet. Users will be able to send FLETA tokens to KardiaChain and use them on different DApps they have.
I’m interested in staking and creating the mining node. How much do I need to hold, and how easy is it to participate?
You can start mining in FLETA Wallet. Delegation needs a minimum of 100 FLETA. To become a Formulator, you need 200k FLETA per 1 Alpha Formulator!
The biggest need for blockchain is that of interoperability, providing cross-chain interactions and multiple blockchains. How does FLETA handle this?
We enhance interoperability using FLETA Gateway. TomoChain and Wanchain integration are under test-operation, and Nuls and KardiaChain are under development. There will be more to be announced! We will share our plans for those hot topics as well. :))
Could You please talk about DApp development on FLETA Platform? What role does its native token play in the ecosystem?
We help them have their own Gateway System to proceed with listing easier and have faster service on our chain. Currently, HeartNumber has launched its FLETA-based mainnet. We have other partners like NFUP, ISDT, and STPL. We welcome you all DApp developers.
Hi Team, can you talk about token velocity?
If you mean our TPS, it’s an average of 7K. 14K at the peak.
What is your expectation for doing an AMA on this community?
More global engagement with our community! We would like to hear what you all think!
Which projects you consider as your competitors, and how do you compare your project with them? What is your winning edge over them?
We are not trying to compete with all mainnets. Instead, we wish to share ecosystems altogether. We all are here (or some of them are not) to commercialize blockchain to where it is the most needed.
The ones with this vision will eventually be surviving.
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To all Defi Questions,
Defi people are not using ETH because it’s fast and cheap. They use it because it has the largest ecosystem and easy to mint.
We are building our ecosystem around in a way to help the whole blockchain ecosystem. When it’s ready (either Defi or others), we are good to have!
Long way to go, but stay tuned!
For more questions, feel free to join our community, my colleagues and I are going to be there :D
Feel free to join and connect with us through any of our official channels below:
FLETA Store: https://fleta.ogn.app/#/