What Is FLETA (FLETA)?
The FLETA project aims to provide a service platform such as Google Android or Apple iOS on the blockchain by supporting efficient DApp development and operation and continuously developing innovative technologies to build a blockchain-based app ecosystem. This includes overcoming the problems and limitations of developing and operating DApps on existing blockchain protocols such as Ethereum or EOS, and realizing a fully decentralized economy through the independence and scalability of DApps.
Starting with simply reducing the burden of GAS or STAKE and increasing the transaction processing speed, ultimately, all projects on the platform achieve their respective goals, converge and expand to build a sustainable organic ecosystem together with users. aiming to. The FLETA team has already upgraded the technology for the core area of the block chain by independently developing innovative technologies. For detailed introduction.
FLETA Storage Key Points
|Circulating Supply||1.56B FLETA|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Fleta creating blocks
FLETA is creating blocks by linking Observer nodes and Formulator nodes. All blocks are generated by the Formulator, and in order for the generated block to be connected to the chain, the signature of the Observer node is required. The Observer node is responsible for monitoring the Formulator to ensure that it does not arbitrarily propagate TXs with bad signatures, or that it does not intentionally take actions that adversely affect the chain.
The Observer node of FLETA mainnet operates 5 nodes, which is the maximum number of nodes that can be agreed upon with 1 failed node based on 1/3 of the Byzantine failure tolerance value. When operating an even number of Observers, it is recommended to operate an odd number of Observer nodes because votes that cannot be agreed by 2:2 or 3:3 can occur frequently. It is also possible to operate one Observer node if the minimum operation is performed with a private chain.
Difficult to induce voluntary participation
If there is no block reward when operating the main net, it is difficult to induce voluntary participation by users, so the foundation must operate it directly. The minimum number of Formulators recommended by FLETA is 3 or more, which increases stability as the chain progresses from multiple nodes. By implementing the configuration of the Observer node and Formulator required in FLETA in one binary, you can configure the local Test net to easily build a test environment.
As of June 30, 2021, for the FLETA mainnet, 7 validators, 435 Alpha Formulators, 74 Sigma Formulators, and 108 Omega Formulators participating in the ecosystem for the healthy development of the chain in partnership.
Traded on the bonded assets market
FLETA provides a secured solution to address the conflict between the main net security and the token liquidity in the Staking model. The token holder obtains bonded assets of equivalent value to the tokens by Staking in exchange for equivalent rTokens. For example, if a user stakes 1 XTZ, he will obtain rXTZ (reward XTZ) that is equivalent to the original token. rXTZ represents regular yields of tokens and the ownership of XTZ on the original chain. At the same time, rXTZ can be traded on the bonded assets market based on the Stafi protocol. Different to XTZ that is staked and locked on the original chain, tradable rXTZ has no lock period, but still keeps generating returns.
As a result, holders of rXTZ no longer need to bear the risk of volatility and make timely judgments on market conditions. The FLETA protocol gives holders more rights. Due to financial motives, a holder will join the Stake contract for Staking for the risks no longer exist. This will serve as an adrenalin to Stake rate. Theoretically, projects that are decentralized enough will increase the Stake rate to over 90% (missing tokens not considered) while at the same time maintaining the liquidity over 90% with the help of Stafi protocol.