FLETA’s main mission is to create a platform that allows the development of DApps in the simplest and most optimal way. FLETA’s use of innovative advanced technology will bring the platform enhanced efficiency as well as independence for DApp developers. Additionally, FLETA is able to provide infinite scalability while increasing transaction speed and lowering development costs. DApps on the FLETA’s network are totally independent and benefit from a lot of freedom.
FLETA’s DApps will have the ability to issue their own tokens on an independent token chain, also called a sub-chain. The developers have full control over their DApps as well as the tokens created and can easily customize the mining rewards, the consensus protocol and others without the need of a fork or any kind of update that would disrupt the network.
Ultra High Speed
FLETA network will be able to achieve a speed of 15,000 Transactions per second by using a better and more optimized block design and an original platform network. The network works using a geolocational system, meaning that when a block is distributed over the network, the distance is determined by the ping, this allows FLETA to avoid the lopsidedness of the network.
The Transaction ID on the FLETA network is based on the block height and the location within the block as opposed to the traditional transaction hash. Traditional transaction indexes are usually really big, FLETA’s new system allows the index to be much smaller which alleviates the burden when searching for a transaction. The transaction verification is made using a signature without the need of a transaction hash.
Additionally, FLETA uses a parallel sharding algorithm where each shard is able to operate independently.
Infinite Scalability
FLETA is able to provide essentially what is known as infinite scalability for each DApp by using a multi-chain structure. This multi-chain structure works with independent sub-chains, each sub-chain is controlled and operated through each DApp. This is the optimized way to prevent the mainnet from overloading.
Every time a DApp is added to the blockchain, the data chain is also expanded. As previously mentioned, the DApps are the ones responsible for maintaining and managing each sub-chain. All DApps will assign their own Formulators and Observer nodes to take care of the sub-chains. FLETA allows developers to pay the execution fee with their own tokens.
This independence means that DApps are not going to influenced by each other when it comes to the network storing data, this provides essentially an infinite scalability which additionally allows DApp developers to have more freedom and to create more efficient DApps.
FLETA has come up with a way to prevent transactions from getting stuck because of the fees requirements. There are plenty of blockchains that get clogged up every few days because of this. Ethereum, for instance, suffers this problem very often, especially when an ICO decides to send the tokens to their investors. FLETA has created a multichain architecture, as mentioned above, the main blockchain will be as light as possible, each DApp uses it’s own dedicated sub-chain, what happens in the sub-chains will have no impact on the main chain.
A new Token Economy
FLETA is trying to achieve a new and innovative token economy. Each developer can use their own consensus model and can run and maintain their sub-chain in any way they see fit. Developers can use a classic PoW consensus model as well as a PoS but FLETA’s network is certainly not limited just to those. Developers can customize the mining reward and execution fee, the FLETA’s network uses a Smart Contract capable of updating the reward system of Apps when needed, however, updates will not require a fork, swap or any type of wallet update.
FLETA supports Solidity, Java Script and Go language for the Smart Contracts. DApps will use the PoF consensus model by default, however, developers can easily change it.
The Potential of FLETA
FLETA has already started its alpha testnet way back in October 2018 and the beta in March 2019. The FLETA team is discussing possible a cooperation with ENTERSOFT, Caledo or Buddy.
FLETA is trying to become the Google Android but for the blockchain market. FLETA aims to become the most ideal blockchain platform for DApps. The Team of FLETA created an environment that supports infinite scalability and lighting fast transaction speeds which means the main network will never overload or malfunction. FLETA is the next generation of DApp platforms and is planning to run 36 FLETA nodes all over the world.
The total amount of FLETA tokens is set at 2 billion, however, inflation can occur because of the Formulators since they will be generating new blocks every year. There is a limit of 400 million tokens, which is 20% of the initial tokens issued by FLETA. All the generated tokens are used as rewards to holders and participants in the PoF process.
Most of FLETA tokens are locked up to pay the founders, team, partners or advisors as well as investing in marketing and other features. A 15% of tokens are allocated to the ecosystem building, which is necessary for the development of the FLETA ecosystem and will help developers take full advantage of the network by swapping DApp tokens as well as conducting airdrop events on the FLETA platform.
The other reserve fund will be used mostly for development like technological development as well as other issues related to FLETA.