FLETA is a blockchain ecosystem and platform designed to provide solutions for DApp developers and DApps. FLETA is trying to solve all the current issues DApps are facing, mainly scalability and speed.
The FLETA platform is providing DApps with the ability to be 100% independent. This means that each DApp will have its own set of rules and will operate independently at all levels. FLETA knows what’s important for the success and growth of a DApp and has specifically focused on achieving limitless scalability.
Another important features that FLETA provides for all DApps are a reasonable execution fee as well as fast data processing.
Technological Innovations of FLETA
Team FLETA know that in order to achieve all these new and improved features, they have to come up with a new system entirely. Enter Proof of Formulation.
Proof of Formulation (PoF) is a new consensus model that replaces the traditional PoW or PoS. This new consensus protocol eliminates the possibility of unnecessary forks and assign block generator’s mining order. Thanks to Observer Nodes, instant block confirmation is possible.
Similarly to traditional consensus mechanisms, PoF incentivizes people to generate and confirm blocks by rewarding them using transaction fees and block rewards. Blocks with fake transactions are instantly denied because all nodes that receive blocks will confirm the signatures and blocks themselves. Additionally, the PoF system reduces block generation time and increases the verification speed.
Ultra-High-Speed Transactions Per Second
Achieving a high transaction speed is one of the main missions of FLETA and an important feature in any cryptocurrency or platform. An innovative geolocational balanced peer selection algorithm allows FLETA to produce blocks that are distributed swiftly and evenly.
FLETA has achieved a huge figure of 14,000 TPS using its original technologies. The way FLETA calculates the id of a transaction is fundamentally different than most traditional methods. The TxId on the FLETA platform uses the block height and the transaction location within the block. This allows the index itself to be smaller which makes it easier to search for a transaction.
Infinite Scalability for DApps
As mentioned above, FLETA is giving special importance to scalability. All decentralized applications and cryptocurrencies are currently trying to achieve more scalability. In fact, scalability has been one of the biggest problems faced by all cryptocurrencies since the beginning.
FLETA is aiming to solve this problem using a multi-chain structure. This means that each DApp has its own independent sub-chain. This allows FLETA to prevent the mainnet from becoming overloaded.
Because DApps are operating their own chains, the token economy can be updated through custom consensus mechanisms chosen by each DApp developer. They can also choose how to reward holders.
Parallel Sharding
Although parallel sharding isn’t new, FLETA has achieved a network where each shard is operated independently without having to be included or mutually connected with any of the other shards. Transactions are allocated to specific shards using pre-determined rules.
Unlike traditional systems, each shard in the FLETA network is not influenced by any other which means they are not sharing data and double-spending is simply not possible.
New Tree Verification Method
FLETA has designed and improved previous traditional block structures by reducing them to under 360 bytes compared to 560. This basically leads to faster transaction speed. FLETA has also replaced the traditional Merkle Tree verification method with a LEVEL tree method. This is a technological breakthrough that also helps greatly with transaction speed enabling FLETA to achieve 5 times faster verification speed.
Normally, data would be shared and transmitted through a peer-to-peer process and Merkle Tree is required throughout the whole process. A lot of calculation and memory is needed for a simple payment verification, that’s why FLETA has decided to employ the LEVEL tree system which clusters 16 blocks into one and hashes that single unit into 16 parts.
In the next article, part 2, we will keep discussing FLETA’s milestones and what we have achieved so far.
