FirstChain, the founder of FLETA,
all started from one question:
“What Platform could resolve the issues facing current blockchain platforms and create a sustainable blockchain ecosystem?”

The first generation blockchain platform, Bitcoin resolved the double spending issue of cryptocurrencies.

Following Bitcoin was Ethereum, the second-generation blockchain platform, who realized the diversity of services in the blockchain platform via smart contract.

Yet, most blockchain platforms are showing limits in terms of scalability, data-processing speed, data storage, and execution fees.
For blockchain platforms to take on sustainability and be operated in such a manner, developers should be able to develop DApps without any hassles, and users should be able to use it readily. It is with this in mind that FLETA came up with an optimal platform, meeting the needs of the platform participants, with our advanced technology.

Tech & Benefit
Independent Multi-Chain Structure
  • Less financial burden for both developers and users
  • Limitless number of DApps can be accommodated
PoF Proof-of-Formulation
  • Prompt creation and dissemination of blocks
  • Real-time confirmation through observer node, minimize unnecessary Fork
Block Redesign
  • Block size reduced by 43%
  • 1.8 times faster transaction processing speed
  • Data storage optimally reduced
LEVEL Tree
  • 90% reduced validation size, compared to Merkle Tree
  • High quality transaction validation with less data reception
  • 5 times faster speed of transaction validation process
Parallel Sharding
  • Parallel action possible without double spending
  • Focused on TPS enhancement through increase in shard numbers and each shard’s TPS
  • Able to process 20,000 transactions per one second
  • Limitless Scalability
  • Independence
    of each DApp
  • Reasonable
    Execution Fee
  • Super-fast
    Data Processing
  • Sustainable & Optimal
    Data Storage Capacity

Independent Multi-Chain Structure

FLETA utilizes an independent multi-chain structure, with the existence of a sub-chain apart from the main-chain, resolving the main-chain overload issue and reducing excessive fees both for developers and users. That is, by separating the performance of the main-chain and the data domain, each DApp is operated independently, without being mutually influenced, leading to a limitless number of DApps being available. This in turn, results in the reduction of excessive development costs of DApps and execution fees caused by using DApps.

PoF Proof-of-Formulation

FLETA developed a new consensus model, preventing unnecessary fork, along with an improved speed, which distinguishes itself from the existing consensus models like Staking. This new consensus model is called PoF(Proof-of Formulation), consenting the order of block mining and creating blocks in such order. The spreading range of blocks is reduced, which makes the creation and dissemination of blocks more rapid. Moreover, real-time confirmation can be attained through observer node, also preventing potential unnecessary fork.

Block Redesign

Block’s structure is the pillar of the blockchain, which directly leads to the processing speed and storage capacity. FLETA has redesigned the block structure, which had been used since the initial stages. This was accomplished by reducing the blocksize by 43% and at the same time reducing the size of index, which is needed for operation. Thus, the processing speed became 1.8 times faster and data size has been optimally reduced, making the structure more efficient.

LEVEL Tree Validation

    Unlike the Merkle Tree validation, which is constantly undergoing a great deal of calculation, FLETA adopted the LEVEL Tree validation. Reducing the size by 90%, the LEVEL Tree validation carries out a high quality transaction validation process with less data reception, concurrently increasing the speed of the process by more than 5 times.

Parallel Sharding

The Sharding Algorithm, which FLETA developed, can be operated in parallel, without double spending, as each shard is separated so that the data is not shared among them. Additionally, the enhancement of TPS is achieved with the increase in the number of shards, along with the enhancement of TPS in each shard, making FLETA process 20,000 transactions per second. We are proud to report that this is the fastest TPS of individual shards among existing blockchain projects.

Core Team
Paul Park
CEO
Lucas Park
CTO
Peter J
CFO
Scott Park
CTA/Director
Gerrard Kim
Head of Business Development
Bina Cho
Head of Marketing Strategy
Sam Jeong
Head of Technology
Soo Kim
Head of Branding
advisor

Mickey Kim

  • Director of Product Planning & Partnerships at Google Hardware APAC
View Interview

Doo Hee Lee

  • Acclaimed Programer
View Interview

Yoon Kim

  • Senior Advisor at Corent Technology
  • Former CEO of Motorola Korea
View Interview

Sam Soo Pyo

  • Senior Advisor at Kim & Chang
  • Former CEO of Oracle Korea
View Interview

Dong-Yun Lee

  • Advisor at Mirhenge
  • Former Director of IBM Asia Pacific
View Interview

Kyung-Mo Lee

  • President of ITT
View Interview

Hae Won Choi

  • President of Linn Consulting
  • Former CEO of SAP Korea
View Interview

Young Jin Son

  • Former CEO of CISCO Korea
  • Former CEO of Microsoft Korea
View Interview

More advisors will join our journey!

Coming soon.
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Project Roadmap
2019 Q4
Open Developer Portal
Open FLETA’s own DApp (Beta)
2019 Q3
Update Mainnet
  • Parallel Sharding
Open Developer Portal (Beta)
2019 Q2
Update Testnet
  • Parallel Sharding
Plan FLETA’s own DApp Project
2019 Q1
Complete Development of PoC Code
  • Parallel Sharding
Open Mainnet
2018 Q4
Unveil Web Simulator
  • PoF (Proof-of-Formulation)
  • Block Redesign
Complete Development of PoC Code:
  • Independent Multi-Chain Structure
  • Smart Contract
Open Testnet
2018 Q3
Complete Development of PoC Code
  • PoF (Proof-of-Formulation)
  • Block Redesign
partner
Co-Founder

Paul Park

Peter J

Jason Kim

Henry Hong