Blockchain increasingly gains traction in the everyday world, a greater number of use and application cases are generated daily in an increasingly globalized and competitive economy that generates demand for tangible, reliable and safe goods and services.
That is why Blockchain technology has gained space for some time since it managed to link real use cases with an increasingly technologically decentralized world. However, these changes also pose important challenges for large-scale Blockchain adoption, one of which is undoubtedly scalability.
It is known that most Blockchains have speed problems to process transactions (scalability). Consequently, if a platform wants to enter the everyday space it must combine three key factors: scalability, security and consensus.
In order to have a closer assessment, VISA achieves a maximum of 20 thousand TPS per transaction, hence its success as a payment bridge worldwide.
For that reason, in order to have smart contracts, decentralized applications (DApps) and daily payments made with Blockchain technology and through cryptocurrencies, there must be a platform that guarantees high transaction speeds together with network security and immutability to provide a reliable and very useful mechanism.
Recently, FLETA, a Blockchain platform designed to create a sustainable DApp ecosystem, has launched a public testnet in its open-source beta phase that promises to solve current typical Blockchain problems.
They informed that their repository in Github is available for all those interested in testing the benefits of their platform, which promises to cause a disruption in the decentralized world of applications thanks to its scalable architecture, efficient operations and demonstrated TPS capabilities that have a proven maximum of 15,000 TPS so far, closer to the current capacity of VISA.
FLETA is a public Blockchain platform with supporting business technology and services for DApps. The company’s medium-term objective is to accelerate the large-scale adoption of Blockchain technology through a friendly environment that generates new use cases.
FLETA Gateway allows interoperability with other existing platforms such as Ethereum, EOS and Tron, among others.
Through its innovative technology it promises to raise strong competition with current large platforms for developing decentralized applications. Therefore, it has proposed a new consensus algorithm, Proof of Formulation (PoF), which has achieved a maximum of 15 thousand transactions per second in its testing phases.
In addition, the company plans to revolutionize the cost of developing DApps, a major nerve center that currently discourages many developers from generating real use cases, due to the high fees to be paid on traditional platforms such as Ethereum, EOS and Tron, among others.
Paul Seungho Park, co-founder and CEO of FLETA, said that that “the launch [the testnet] marks a monumental milestone in our roadmap. The ultimate goal of FLETA is to create a highly efficient Blockchain system and achieve a successful merger of existing services and technology with unparalleled speed.”
FLETA opened the Open Developer Portal in last March and its mainnet is expected to be launched in July this year. Developers interested in generating DApps and testing the benefits of its platform can go to its open source on Github.
Finally, large-scale Blockchain adoption promises to be a reality in the short term, as stated by large crypto space influencers. The release of FLETA with its high TPS promises to create a milestone within the industry that allows the massification of applications that generate utility in many everyday areas, where technology will be used almost unnoticeably.
By Willmen Blanco