Fleta

FLETA Price Live Data

The live FLETA price today is $0,033374 USD with a 24-hour trading volume of $9 426 002 USD. We update our FLETA to USD price in real-time. FLETA is down 4,81% in the last 24 hours. The current CoinMarketCap ranking is #515, with a live market cap of $52 151 259 USD. It has a circulating supply of 1 562 645 034 FLETA coins and the max. supply is not available.

If you would like to know where to buy FLETA, the top cryptocurrency exchanges for trading in FLETA stock are currently DigiFinex, Bithumb, PancakeSwap (V2), BitGlobal, and Coinone. You can find others listed on our crypto exchanges page.

What Is Fleta?

Fleta is a blockchain platform launched on Nov 11, 2019. It aims to help DApp developers and users engage in the DApp ecosystem with convenience and ease, eventually leading to the popularization of blockchain technology. Fleta has developed blockchain technologies such as Independent Multi-chain Structure, Block Redesign, Parallel Sharding, Proof-of-Formulation, Level Tree Validation, and Gateway System. Thanks to them, Fleta's DApps can create flexible ecosystems, and users can use the DApps with fast speed and unlimited scalability.

Fleta is developed and operated by Sendsquare, a blockchain technology company based in Seoul, South Korea. Sendsquare also offers blockchain solutions and technologies to other projects and firms. It has created use cases like blockchain-based eCRF System and RWD-based Clinical Research Data Registry Platform using blockchain, both supported by the South Korean government's National IT Industry Promotion Agency.

Fleta also provides tools for its ecosystem, such as Fleta explorer and Fleta Wallet. It also supports Fleta Connect, a multi-chain DeFi platform, utilizing its cross-chain technology, Gateway System. Fleta Gateway is currently integrated with Binance Smart Chain, Polygon, Ethereum and Tomochain.

Fleta coin is used for:

Fees for processing transactions via Fleta ecosystem, including Fleta Converter, Fleta Wallet, and Fleta mainnet.

Node operation, staking, and DeFi services.

FLETA (FLETA) is a blockchain service platform that aims to provide technology and business support services to DApp developers who build their projects in the FLETA ecosystem.

FLETA (FLETA) aims to become Google Android and Apple iOS in the blockchain market. It will solve existing blockchain issues such as scalability, speed or decentralization and provide a platform for developers to create scalable and high performance Dapps. One of FLETA's main goals is to become a truly global company.

Sendsquare, the foundation that developed the FLETA project, has been selected by the National IT Industry Development Promotion Agency (NIPA) of the South Korean government as one of the blockchain PoC support projects since 2019 and has developed a blockchain-based clinical data management system. (eCRF System) and RWD main clinical trial analysis reporting platform using blockchain technology.

FLETA, as a blockchain platform, provides DApp developers with a service model that includes FLETA blockchain technology, token generation, and an environment for developing smart contracts and developer portals. As the service model becomes more active, the number of DApps will increase and the ecosystem will expand.

With the advent of Blockchain technology, many users have discovered the recent development of the technology and the use of decentralized applications commonly known as DApps.

However, for the average user, the difference between centralized and decentralized applications may go unnoticed. Its visible characteristics are noticeable at the developer level, although today they have inspired thousands of DApss, from gaming to finance.

Since many people don't realize that they are actually using DApps, they may think that DApps are not needed. However, if you need a high level of security and control over your applications, DApps can help you a lot.

Regular users will have the right to own their personal information while using DApps. Many companies use and sell your data stored on their servers without user consent, in addition to breaching security. There is no doubt that this point is crucial when choosing between an APP or a DApp.

When you use a financial application, under normal circumstances, the database depends on servers located in the respective company or in the cloud of a third party provider. This can lead to data disclosure if the servers are sufficiently vulnerable.

On the other hand, with the use of DApps, the chance of data or identity theft is reduced if the user uses the protocols correctly.

Trust is well-earned and priceless. Given that DApps use open source code, it is easy to check lines of code at any time by any person or entity, making applications transparent and controlled by third parties, ultimately avoiding theft of identity or funds.

Undoubtedly, this blockchain feature allows users to control what they interact with. But since many of the users are ordinary people with no programming knowledge, security companies like Certik have a responsibility to make things easier and more transparent, allowing you to add that extra layer of security to DApps.

On the other hand, the decentralized function of DApps allows them to be independent of centralized servers or networks, creating typical problems such as censorship or inactivity due to failures of one central point.

Since they depend on various nodes supporting the Blockchain network that a particular application runs on, the many problems faced by traditional applications are no longer a headache for DApps.

Because blockchain is a new technology, there are similarities to the nineties era of the Internet; users need more time to get used to it. There is no doubt that in the coming years we will see significant progress in the development, use and management of DApps among millions of Blockchain technology enthusiasts.

One of FLETA's major innovations in the field of blockchain is the new and innovative "Proof-of-Formulation" consensus algorithm, which prevents forks by providing real-time confirmation of blocks and transactions. The Proof-of-Formulation consensus algorithm is patented by the US Patent Office (application number: 62717695).

In a traditional centralized organization, all decisions are made by a leader or a council of decision makers. This is not possible on a blockchain because there is no defined "leader" on the blockchain. So how does the blockchain network make decisions? How does everything work in a decentralized environment?

Answer: consensus mechanisms

Before we look at consensus mechanisms, let's understand what consensus is. Consensus is a dynamic way of reaching agreement within a group. While voting is reduced to majority rule with no regard for the feelings and well-being of the minority, consensus, on the other hand, ensures an agreement is reached that can benefit the group as a whole.

So, from an idealistic point of view, consensus can be used by a group of people scattered around the world to create a more equal and just society. The method of reaching consensus is called the “consensus mechanism”.

Objectives of Consensus Mechanisms

Let's look at the main goals of consensus mechanisms. What should a good consensus mechanism do? Well, let's look at them in order:

-Seeking agreement: Should produce a result that helps in reaching agreement among the group.

-Collaboration: The mechanism should allow participants to work together and put the interests of the group first.

-Co-op: All participants should not put their own interests first and work as a team more than individually.

-Egalitarian: A group trying to reach consensus should be as egalitarian as possible. One vote will not be more or less valuable than another person's vote and will carry equal weight.

-Inclusive: The process should include all participants in the decision-making process. It shouldn't be like regular voting where people really don't want to vote because they believe their vote won't carry any weight in the long run.

-Participation: The consensus mechanism should be such that everyone actively participates in the overall process.

-Okay, so that's what consensus does, however, there is one more hurdle that needs to be overcome before building a consensus mechanism for a blockchain system.

Okay, imagine that there is a group of Byzantine generals and they want to attack the city. They face two very different problems:

1.The generals and their armies are very far apart, so centralized power is not possible, making a coordinated attack difficult.

2.The city has a huge army, and the only way to win is to attack all at once.

So, in order to coordinate an attack, the messenger will receive a message from one general and then run to the next. In the process, all generals will receive the necessary information and will be able to launch an attack. However, what happens if one of the generals becomes evil? They can simply forge the message before it is passed on to other generals.

It also has clear links to the blockchain. A chain is a huge network; how can you trust them? If you were sending someone 2 BTC from your wallet, how would you know for sure that someone on the network isn't going to tamper with it and change 2 BTC for 4?

That's what "Byzantine system" means. Solving the problem of Byzantine generals means creating a decentralized system that will work even if some elements in the network become malicious.

Satoshi Nakamoto, the founder of Bitcoin, was able to answer this question by creating the Proof-of-Work consensus mechanism.

Proof-of-work (POW) is a technique that uses the computational resources of miners to solve cryptographically difficult puzzles. To summarize this process, here is how it works:

-Miners solve cryptographic puzzles to "mine" a block and add it to the block chain.

-This process requires huge amounts of energy and computational resources. The puzzles have been designed in such a way as to make them difficult and tiring for the system.

-When a miner solves a puzzle, he submits his block to the network for verification.

-Checking if a block belongs to the chain or not is a simple process.

Now, while the prisoner of war was doing his job, it was extremely inefficient. This is a slow and cumbersome process as it requires overwhelming majority (>2/3) approval from the entire network.

This is why many modern smart contract platforms such as FLETA, EOS, and Cardano use a "leader-based" or delegated consensus model. In delegated consensus, some members are selected from the entire network through an election process. These members are responsible for the consensus mechanism. Since a relatively small group is responsible for consensus, as opposed to the entire network, leader-based mechanisms are significantly faster.

In Proof-of-Formulation (PoF), mining and block generation are done differently than in existing blockchain platforms. Formula developers act as block generators in the FLETA platform. Observers allow you to confirm generated blocks in real time and prevent double spending.

Formulators serve as the basis of the PoF algorithm. Their ranking is based on a score that is calculated using formula:

Evaluation: uint64(Phase) << 32 + uint64(binary.LittenEndian.Uint32(hash[:4]))

"Hash" serves as the hash value of the previous block, and "Phase" is a time-dependent value that indicates how many times the RankTable "turned" or went through all the formula builders to generate the block.

The new formula developer in the system participates in the RankTable with the highest phase value + 1.

This is to ensure that each formular has at least one mining opportunity in each stage, and therefore a different sequence (or ranking) will be created for each block generation phase. This prevents the possibility of attacks and collusion by any malicious formula developers.

Simply put, the primary role of watchers is to prevent DDoS attacks and keep the entire blockchain network secure.

To maintain systematic consistency and system flow, each developer will access a watcher node to hide and masquerade their IP addresses. This prevents any form of targeted DDoS attack on developers.

Main features of observer nodes:

-5 observer nodes for each development group, 3 of which must sign the generated block to validate it;

-Obtaining information about the activities of Formulator in real time;

-Information about the status and structure of a node is disclosed to formula developers and other users to increase the overall transparency of the network.

If the block generator sends an invalid block, the receiving nodes discard the block and prepare to receive a new one. In this case, the generator has 1 second to create a normal block, otherwise the second rank formular will start creating a new block, which will be propagated after 3 seconds if the original formular still does not propose a new block.

The watcher node will confirm that the original generator failed to create the block within 3 seconds, and thus continue with the block signing process from the second-place formula builder.

As we saw with Ethereum and Ethereum Classic, and the Bitcoin, Bitcoin Cash, and Bitcoin SV splits, forks can cause serious damage to the blockchain network. The PoF algorithm repeats this anomaly, making surebets impossible.

Since 3 out of 5 observer nodes must sign on a block in order to confirm it, forks are simply not possible because the first block with 3 out of 5 signatures will be confirmed as the next block in the chain.

FLETA Proof-of-Formulation consensus is not only fast, but also very secure with an extra layer of protection between Observer nodes, formula developers, and the sync group.

Existing blockchain networks process all decentralized applications (DApps) and smart contracts that are on the network through one primary blockchain. This means that all transactions related to numerous DApps and smart contracts are processed by one blockchain.

This has led to periods of massive congestion on such networks as they become overwhelmed by the need to process too many transactions beyond their capacity. This was witnessed in Ethereum when the CryptoKitties brought the network to a halt.

Another major issue with high congestion is the exorbitant transaction fees that are charged due to miners prioritizing higher reward fees. Bitcoin was hit hard by this in late 2017 when the cryptocurrency market was booming. This makes transactions costly for users and also causes significant delays, practically rendering the network completely unusable.

The FLETA blockchain platform implements an independent multi-chain structure to solve these two main problems:

-Transaction overload leading to overload;

-Exorbitant transaction fees that are the result of a large congestion.

The independent multi-chain structure enables FLETA to be much more scalable, with the ability to run an infinite number of DApps concurrently, in parallel and independently.

The FLETA main chain handles the process of creating any new DApp chains with their respective tokens, and furthermore serves as an inter-chain communication route for each chain to interact with each other.

If the main chain goes down or stops working, all other chains on the platform will continue to function, since each of them will have its own set of originators and watcher nodes to run their independent blockchain networks.

Each independent chain can have its own token, which is used for smart contracts and as a reward to miners in accordance with the chain governance rules and the mining reward algorithm chosen by the DApp manager. This means that each independent chain, led by a DApp manager, has the ability to create its own token economy by choosing how the chain is managed with its mining algorithm.

With this multi-chain structure, FLETA can host an unlimited number of DApps (scalability) as each independent chain will process its own transactions, which means the main chain will not be overloaded. FLETA's alpha testing results demonstrated the ability of an independent chain to process 10,000 transactions per second.

Another major benefit is that this solution also eliminates the high execution fees that are associated with Bitcoin and Ethereum as a result of congestion, and also means that reasonable hosting fees are required, such as in EOS for DApp managers, as they have a choice opting out. fees for their independent networks.

Because each chain operates independently of each other, communication between chains is up to each DApp to transfer tokens between independent chains, and this is done through the main chain.

Each independent chain will regularly report its block header information to the main chain, resulting in the chain information being recorded. Since each independent chain operates on the same address system, users can easily send tokens from their address to another address on another chain, and it may appear that all independent chains were connected through one wallet. This design allows you to smoothly transfer any tokens from one chain to another.

The process works through an independent chain, first transferring the token to another address, which removes the token, and then it is reported to the main chain. When the receiving chain of sent tokens takes the latest block header information from the main chain, it can record that this transfer has taken place and thus create new tokens for the receiving wallet address.

Only tokens that have been authenticated through the main chain will be able to be transferred through independent chains to different DApps that a user receives on another independent chain.

This process allows all chains within FLETA to own and operate using many different types of tokens residing on the network, which can then be used across all smart contracts and DApps hosted on various independent chains.

The independent structure of multiple FLETA chains allows limitless DApps to run simultaneously without scaling bottlenecks or high network congestion fees resulting from transaction congestion, allowing users and developers to easily access the network at faster speeds and much more reasonable fees. DApp developers are minimally restricted by the rules of the main chain, and mining is more democratic. For more information, read about the FLETA Proof of Formulation consensus algorithm.

At the same time, even though the chains are independent, all chains in the network can still interact with each other, so that users can transfer tokens between chains, as well as use different tokens for any DApp or smart contract that works online.

In Fleta, blocks consist of a header block and a transaction list, the latter taking up the most data, and thus the volume in the block. Thus, reducing the size of transactions in FLETA leads to a decrease in block sizes, volume, network traffic, and transaction processing time.

This new block structure is achieved by using the "TxId" of the block height and location of the transaction within the block instead of the transaction hash as in Bitcoin. This change effectively reduces the TxId function from 32 bytes to 6 bytes.

After that, the total block size in FLETA is reduced by 43% from 560 bytes to less than 360 bytes, resulting in a 1.8x increase in transaction processing speed. This new block design from FLETA is patented in the US Patent Office (number: 62717703).

Benefit from block height and transaction location with TxId

The existing method for validating Bitcoin transactions uses TransactionHash , which means that an index is required to find the original transaction to validate. To process 100 GB of bitcoin transaction data, an index of 50 GB is required! This is an additional 50% of the amount of data that must be transferred to the network by its miners and nodes.

Because the TxId has the location of the transaction specified in FLETA, this eliminates the need for a large index and also reduces transaction lookup overhead.

Instead, validation is done using signatures with validation of transactions made without the use of TransactionHash . The ability to instantly search for transactions reduces the overall index and data volume for the network.

In general, the new FLETA block design consists of a block header, a list of transactions, and a "LEVEL Tree" structure to support parallel processing and Light Nodes, the new LEVEL Tree structure replaces the Merkle tree, which has since been found to be inefficient.

Merkle trees are used in both Bitcoin and Ethereum and serve as the main fundamental component in blockchain networks.

A Merkle Tree is a framework that allows transactions to be verified through the use of large historical transaction data for blockchain network data. Verifying a transaction simply means confirming the consistency and legitimacy of transactions on the blockchain network.

Validations performed with Merkle tree structures are based on an inefficient computational structure, which makes it difficult to validate and exchange Light Node data with a simple list of transactions. Thus, in order to provide faster and more economical data processing, FLETA has replaced the Merkle Tree structures with a new innovative "LEVEL Tree" validation structure.

This change resulted in:

-5 times faster overall verification process;

-Tree size reduction by 90% compared to Merkle tree structure.

The FLETA LEVEL tree structure consists of three levels of clusters of 16 transactions each hashed into one unit, where each level above represents a hashed pair of units from the level below. This structure offers a much more efficient hashing process as each level is simplified to 16 subunits in each cluster.

This structural change requires much less data storage and computational requirements to validate transactions, meaning that fewer resources are wasted and less powerful computing devices can connect to the network and act as a light node.

LEVEL trees stored in light nodes include root level, level 1 and level 2, where light nodes can request information from full nodes (all levels) as needed.

The combination of the redesign of the FLETA block and the new “LEVEL Tree” structure for verifying transactions resulted in an eightfold increase in transaction speed compared to other blockchain networks.

To further improve scalability, speed, and lower fees across the entire FLETA network, a new sharding mechanism has been implemented in which sub-chains operate independently of each other so that no data is transferred directly between chains.

-Data storage partitioning, where each dApp manages its own chain;

-Separation of transaction processing such that transactions are local to each chain.

This sharding method allows each chain in the network to operate as a single "main chain". And since all independent chains operate under the same wallet and address system, users can access any chain on the network by sending or receiving from the same address and key to facilitate seamless cross-chain transactions. It may seem to the user that all transactions are processed in one wallet.

Since each chain operates independently and without data exchange between chains within this parallel structure, this eliminates the possibility of double spending.

Through the FLETA alpha test network, one chain has been shown to be stable at 10,000 TPS. This means that the total number of transactions per second that the FLETA network can handle could be 10,000,000 TPS with 1,000 sub-chains running concurrently. Theoretically, the total number of transactions per second that the network can process is unlimited, since there is no limit to the number of sub-chains that the network can support.

These three technological innovations introduced by FLETA have led to significant leaps in terms of processing speed, scalability, fees, and data storage in blockchain networks.

Block redesign, tree level structure, and parallel sharding combined with a new Proof-of-Composition based consensus algorithm and independent multi-link chains have led to changes in the underlying fundamental structure for the flat blockchain network, which will allow it to become a go-to blockchain application platform and market.

FLETA (FLETA) is a blockchain service platform that aims to provide technology and business support services to DApp developers who build their projects in the FLETA ecosystem.

FLETA (FLETA) aims to become Google Android and Apple iOS in the blockchain market. It will solve existing blockchain issues such as scalability, speed or decentralization and provide a platform for developers to create scalable and high performance Dapps. One of FLETA's main goals is to become a truly global company.

Sendsquare, the foundation that developed the FLETA project, has been selected by the National IT Industry Development Promotion Agency (NIPA) of the South Korean government as one of the blockchain PoC support projects since 2019 and has developed a blockchain-based clinical data management system. (eCRF System) and RWD main clinical trial analysis reporting platform using blockchain technology.

FLETA, as a blockchain platform, provides DApp developers with a service model that includes FLETA blockchain technology, token generation, and an environment for developing smart contracts and developer portals. As the service model becomes more active, the number of DApps will increase and the ecosystem will expand.

With the advent of Blockchain technology, many users have discovered the recent development of the technology and the use of decentralized applications commonly known as DApps.

However, for the average user, the difference between centralized and decentralized applications may go unnoticed. Its visible characteristics are noticeable at the developer level, although today they have inspired thousands of DApss, from gaming to finance.

Since many people don't realize that they are actually using DApps, they may think that DApps are not needed. However, if you need a high level of security and control over your applications, DApps can help you a lot.

Regular users will have the right to own their personal information while using DApps. Many companies use and sell your data stored on their servers without user consent, in addition to breaching security. There is no doubt that this point is crucial when choosing between an APP or a DApp.

When you use a financial application, under normal circumstances, the database depends on servers located in the respective company or in the cloud of a third party provider. This can lead to data disclosure if the servers are sufficiently vulnerable.

On the other hand, with the use of DApps, the chance of data or identity theft is reduced if the user uses the protocols correctly.

Trust is well-earned and priceless. Given that DApps use open source code, it is easy to check lines of code at any time by any person or entity, making applications transparent and controlled by third parties, ultimately avoiding theft of identity or funds.

Undoubtedly, this blockchain feature allows users to control what they interact with. But since many of the users are ordinary people with no programming knowledge, security companies like Certik have a responsibility to make things easier and more transparent, allowing you to add that extra layer of security to DApps.

On the other hand, the decentralized function of DApps allows them to be independent of centralized servers or networks, creating typical problems such as censorship or inactivity due to failures of one central point.

Since they depend on various nodes supporting the Blockchain network that a particular application runs on, the many problems faced by traditional applications are no longer a headache for DApps.

Because blockchain is a new technology, there are similarities to the nineties era of the Internet; users need more time to get used to it. There is no doubt that in the coming years we will see significant progress in the development, use and management of DApps among millions of Blockchain technology enthusiasts.

One of FLETA's major innovations in the field of blockchain is the new and innovative "Proof-of-Formulation" consensus algorithm, which prevents forks by providing real-time confirmation of blocks and transactions. The Proof-of-Formulation consensus algorithm is patented by the US Patent Office (application number: 62717695).

In a traditional centralized organization, all decisions are made by a leader or a council of decision makers. This is not possible on a blockchain because there is no defined "leader" on the blockchain. So how does the blockchain network make decisions? How does everything work in a decentralized environment?

Answer: consensus mechanisms

Before we look at consensus mechanisms, let's understand what consensus is. Consensus is a dynamic way of reaching agreement within a group. While voting is reduced to majority rule with no regard for the feelings and well-being of the minority, consensus, on the other hand, ensures an agreement is reached that can benefit the group as a whole.

So, from an idealistic point of view, consensus can be used by a group of people scattered around the world to create a more equal and just society. The method of reaching consensus is called the “consensus mechanism”.

Objectives of Consensus Mechanisms

Let's look at the main goals of consensus mechanisms. What should a good consensus mechanism do? Well, let's look at them in order:

-Seeking agreement: Should produce a result that helps in reaching agreement among the group.

-Collaboration: The mechanism should allow participants to work together and put the interests of the group first.

-Co-op: All participants should not put their own interests first and work as a team more than individually.

-Egalitarian: A group trying to reach consensus should be as egalitarian as possible. One vote will not be more or less valuable than another person's vote and will carry equal weight.

-Inclusive: The process should include all participants in the decision-making process. It shouldn't be like regular voting where people really don't want to vote because they believe their vote won't carry any weight in the long run.

-Participation: The consensus mechanism should be such that everyone actively participates in the overall process.

-Okay, so that's what consensus does, however, there is one more hurdle that needs to be overcome before building a consensus mechanism for a blockchain system.

Okay, imagine that there is a group of Byzantine generals and they want to attack the city. They face two very different problems:

1.The generals and their armies are very far apart, so centralized power is not possible, making a coordinated attack difficult.

2.The city has a huge army, and the only way to win is to attack all at once.

So, in order to coordinate an attack, the messenger will receive a message from one general and then run to the next. In the process, all generals will receive the necessary information and will be able to launch an attack. However, what happens if one of the generals becomes evil? They can simply forge the message before it is passed on to other generals.

It also has clear links to the blockchain. A chain is a huge network; how can you trust them? If you were sending someone 2 BTC from your wallet, how would you know for sure that someone on the network isn't going to tamper with it and change 2 BTC for 4?

That's what "Byzantine system" means. Solving the problem of Byzantine generals means creating a decentralized system that will work even if some elements in the network become malicious.

Satoshi Nakamoto, the founder of Bitcoin, was able to answer this question by creating the Proof-of-Work consensus mechanism.

Proof-of-work (POW) is a technique that uses the computational resources of miners to solve cryptographically difficult puzzles. To summarize this process, here is how it works:

-Miners solve cryptographic puzzles to "mine" a block and add it to the block chain.

-This process requires huge amounts of energy and computational resources. The puzzles have been designed in such a way as to make them difficult and tiring for the system.

-When a miner solves a puzzle, he submits his block to the network for verification.

-Checking if a block belongs to the chain or not is a simple process.

Now, while the prisoner of war was doing his job, it was extremely inefficient. This is a slow and cumbersome process as it requires overwhelming majority (>2/3) approval from the entire network.

This is why many modern smart contract platforms such as FLETA, EOS, and Cardano use a "leader-based" or delegated consensus model. In delegated consensus, some members are selected from the entire network through an election process. These members are responsible for the consensus mechanism. Since a relatively small group is responsible for consensus, as opposed to the entire network, leader-based mechanisms are significantly faster.

In Proof-of-Formulation (PoF), mining and block generation are done differently than in existing blockchain platforms. Formula developers act as block generators in the FLETA platform. Observers allow you to confirm generated blocks in real time and prevent double spending.

Formulators serve as the basis of the PoF algorithm. Their ranking is based on a score that is calculated using formula:

Evaluation: uint64(Phase) << 32 + uint64(binary.LittenEndian.Uint32(hash[:4]))

"Hash" serves as the hash value of the previous block, and "Phase" is a time-dependent value that indicates how many times the RankTable "turned" or went through all the formula builders to generate the block.

The new formula developer in the system participates in the RankTable with the highest phase value + 1.

This is to ensure that each formular has at least one mining opportunity in each stage, and therefore a different sequence (or ranking) will be created for each block generation phase. This prevents the possibility of attacks and collusion by any malicious formula developers.

Simply put, the primary role of watchers is to prevent DDoS attacks and keep the entire blockchain network secure.

To maintain systematic consistency and system flow, each developer will access a watcher node to hide and masquerade their IP addresses. This prevents any form of targeted DDoS attack on developers.

Main features of observer nodes:

-5 observer nodes for each development group, 3 of which must sign the generated block to validate it;

-Obtaining information about the activities of Formulator in real time;

-Information about the status and structure of a node is disclosed to formula developers and other users to increase the overall transparency of the network.

If the block generator sends an invalid block, the receiving nodes discard the block and prepare to receive a new one. In this case, the generator has 1 second to create a normal block, otherwise the second rank formular will start creating a new block, which will be propagated after 3 seconds if the original formular still does not propose a new block.

The watcher node will confirm that the original generator failed to create the block within 3 seconds, and thus continue with the block signing process from the second-place formula builder.

As we saw with Ethereum and Ethereum Classic, and the Bitcoin, Bitcoin Cash, and Bitcoin SV splits, forks can cause serious damage to the blockchain network. The PoF algorithm repeats this anomaly, making surebets impossible.

Since 3 out of 5 observer nodes must sign on a block in order to confirm it, forks are simply not possible because the first block with 3 out of 5 signatures will be confirmed as the next block in the chain.

FLETA Proof-of-Formulation consensus is not only fast, but also very secure with an extra layer of protection between Observer nodes, formula developers, and the sync group.

Existing blockchain networks process all decentralized applications (DApps) and smart contracts that are on the network through one primary blockchain. This means that all transactions related to numerous DApps and smart contracts are processed by one blockchain.

This has led to periods of massive congestion on such networks as they become overwhelmed by the need to process too many transactions beyond their capacity. This was witnessed in Ethereum when the CryptoKitties brought the network to a halt.

Another major issue with high congestion is the exorbitant transaction fees that are charged due to miners prioritizing higher reward fees. Bitcoin was hit hard by this in late 2017 when the cryptocurrency market was booming. This makes transactions costly for users and also causes significant delays, practically rendering the network completely unusable.

The FLETA blockchain platform implements an independent multi-chain structure to solve these two main problems:

-Transaction overload leading to overload;

-Exorbitant transaction fees that are the result of a large congestion.

The independent multi-chain structure enables FLETA to be much more scalable, with the ability to run an infinite number of DApps concurrently, in parallel and independently.

The FLETA main chain handles the process of creating any new DApp chains with their respective tokens, and furthermore serves as an inter-chain communication route for each chain to interact with each other.

If the main chain goes down or stops working, all other chains on the platform will continue to function, since each of them will have its own set of originators and watcher nodes to run their independent blockchain networks.

Each independent chain can have its own token, which is used for smart contracts and as a reward to miners in accordance with the chain governance rules and the mining reward algorithm chosen by the DApp manager. This means that each independent chain, led by a DApp manager, has the ability to create its own token economy by choosing how the chain is managed with its mining algorithm.

With this multi-chain structure, FLETA can host an unlimited number of DApps (scalability) as each independent chain will process its own transactions, which means the main chain will not be overloaded. FLETA's alpha testing results demonstrated the ability of an independent chain to process 10,000 transactions per second.

Another major benefit is that this solution also eliminates the high execution fees that are associated with Bitcoin and Ethereum as a result of congestion, and also means that reasonable hosting fees are required, such as in EOS for DApp managers, as they have a choice opting out. fees for their independent networks.

Because each chain operates independently of each other, communication between chains is up to each DApp to transfer tokens between independent chains, and this is done through the main chain.

Each independent chain will regularly report its block header information to the main chain, resulting in the chain information being recorded. Since each independent chain operates on the same address system, users can easily send tokens from their address to another address on another chain, and it may appear that all independent chains were connected through one wallet. This design allows you to smoothly transfer any tokens from one chain to another.

The process works through an independent chain, first transferring the token to another address, which removes the token, and then it is reported to the main chain. When the receiving chain of sent tokens takes the latest block header information from the main chain, it can record that this transfer has taken place and thus create new tokens for the receiving wallet address.

Only tokens that have been authenticated through the main chain will be able to be transferred through independent chains to different DApps that a user receives on another independent chain.

This process allows all chains within FLETA to own and operate using many different types of tokens residing on the network, which can then be used across all smart contracts and DApps hosted on various independent chains.

The independent structure of multiple FLETA chains allows limitless DApps to run simultaneously without scaling bottlenecks or high network congestion fees resulting from transaction congestion, allowing users and developers to easily access the network at faster speeds and much more reasonable fees. DApp developers are minimally restricted by the rules of the main chain, and mining is more democratic. For more information, read about the FLETA Proof of Formulation consensus algorithm.

At the same time, even though the chains are independent, all chains in the network can still interact with each other, so that users can transfer tokens between chains, as well as use different tokens for any DApp or smart contract that works online.

In Fleta, blocks consist of a header block and a transaction list, the latter taking up the most data, and thus the volume in the block. Thus, reducing the size of transactions in FLETA leads to a decrease in block sizes, volume, network traffic, and transaction processing time.

This new block structure is achieved by using the "TxId" of the block height and location of the transaction within the block instead of the transaction hash as in Bitcoin. This change effectively reduces the TxId function from 32 bytes to 6 bytes.

After that, the total block size in FLETA is reduced by 43% from 560 bytes to less than 360 bytes, resulting in a 1.8x increase in transaction processing speed. This new block design from FLETA is patented in the US Patent Office (number: 62717703).

Benefit from block height and transaction location with TxId

The existing method for validating Bitcoin transactions uses TransactionHash , which means that an index is required to find the original transaction to validate. To process 100 GB of bitcoin transaction data, an index of 50 GB is required! This is an additional 50% of the amount of data that must be transferred to the network by its miners and nodes.

Because the TxId has the location of the transaction specified in FLETA, this eliminates the need for a large index and also reduces transaction lookup overhead.

Instead, validation is done using signatures with validation of transactions made without the use of TransactionHash . The ability to instantly search for transactions reduces the overall index and data volume for the network.

In general, the new FLETA block design consists of a block header, a list of transactions, and a "LEVEL Tree" structure to support parallel processing and Light Nodes, the new LEVEL Tree structure replaces the Merkle tree, which has since been found to be inefficient.

Merkle trees are used in both Bitcoin and Ethereum and serve as the main fundamental component in blockchain networks.

A Merkle Tree is a framework that allows transactions to be verified through the use of large historical transaction data for blockchain network data. Verifying a transaction simply means confirming the consistency and legitimacy of transactions on the blockchain network.

Validations performed with Merkle tree structures are based on an inefficient computational structure, which makes it difficult to validate and exchange Light Node data with a simple list of transactions. Thus, in order to provide faster and more economical data processing, FLETA has replaced the Merkle Tree structures with a new innovative "LEVEL Tree" validation structure.

This change resulted in:

-5 times faster overall verification process;

-Tree size reduction by 90% compared to Merkle tree structure.

The FLETA LEVEL tree structure consists of three levels of clusters of 16 transactions each hashed into one unit, where each level above represents a hashed pair of units from the level below. This structure offers a much more efficient hashing process as each level is simplified to 16 subunits in each cluster.

This structural change requires much less data storage and computational requirements to validate transactions, meaning that fewer resources are wasted and less powerful computing devices can connect to the network and act as a light node.

LEVEL trees stored in light nodes include root level, level 1 and level 2, where light nodes can request information from full nodes (all levels) as needed.

The combination of the redesign of the FLETA block and the new “LEVEL Tree” structure for verifying transactions resulted in an eightfold increase in transaction speed compared to other blockchain networks.

To further improve scalability, speed, and lower fees across the entire FLETA network, a new sharding mechanism has been implemented in which sub-chains operate independently of each other so that no data is transferred directly between chains.

-Data storage partitioning, where each dApp manages its own chain;

-Separation of transaction processing such that transactions are local to each chain.

This sharding method allows each chain in the network to operate as a single "main chain". And since all independent chains operate under the same wallet and address system, users can access any chain on the network by sending or receiving from the same address and key to facilitate seamless cross-chain transactions. It may seem to the user that all transactions are processed in one wallet.

Since each chain operates independently and without data exchange between chains within this parallel structure, this eliminates the possibility of double spending.

Through the FLETA alpha test network, one chain has been shown to be stable at 10,000 TPS. This means that the total number of transactions per second that the FLETA network can handle could be 10,000,000 TPS with 1,000 sub-chains running concurrently. Theoretically, the total number of transactions per second that the network can process is unlimited, since there is no limit to the number of sub-chains that the network can support.

These three technological innovations introduced by FLETA have led to significant leaps in terms of processing speed, scalability, fees, and data storage in blockchain networks.

Block redesign, tree level structure, and parallel sharding combined with a new Proof-of-Composition based consensus algorithm and independent multi-link chains have led to changes in the underlying fundamental structure for the flat blockchain network, which will allow it to become a go-to blockchain application platform and market.