SEOUL, South Korea, July 9, 2019 /PRNewswire/ -- A blockchain platform FLETA announced that Bitsonic, an influential crypto exchange based in South Korea, joins the FLETA's Validator network.
Validator of FLETA blockchain is an operator of Hyper Formulator, a high-performance mining node of FLETA blockchain. Validators play a pivotal role in FLETA blockchain; they enhance the credibility and stability of FLETA blockchain and build solid the FLETA governance for sustainable development of its ecosystem. Considering the significant roles of Validator, FLETA is focusing on inviting trustworthy corporations that are committed to cultivating the FLETA's ecosystem together. Confirmed Validators so far include GDAC and Cosmostation, one of the top Validators of Cosmos(ATOM). Also, the other participating Validators are Glosfer, the first generation Korean blockchain company; Like Lion, a educational organisation specialised in computer programming; and For Our, the accelerator of the Oasis City project.
Bitsonic is a cryptocurrency exchange established by Skoop Media. Skoop Media is a leading mobile application company; their product includes Baedal Minjok (the most popular food delivery app in Korea), SOCAR (the largest car sharing app in South Korea), Memebox (an online shopping application for beauty products), and Naver Webtoon (A webcomic application managed by the largest Korean search portal Naver). With the know-how and ideas of Jinwook Shin the CEO of Bitsonic and acclaimed computer developer, the exchange has been grown steadily since its foundation in 2018. It is especially well-known for its strategy sharing its commission revenue with customers; this business strategy was implemented in Korea for the first time in this scene. As Bitsonic participates in the FLETA network as Validator, FLETA's Validator line-up is expected to become more solid.
FLETA is a blockchain platform whose goal is accelerating the commercialization of blockchain. FLETA has developed outstanding blockchain technologies like Independent multi-chain Structure, Block Redesign, and its own consensus algorithm PoF (Proof-of-Formulation). With its technologies, it aims to solve problems that existing platforms have such as slow speeds, scalability limitation, and excessive fees. Moreover, to enhance its interoperability and offer FLETA service to more projects, FLETA developed Gateway technology. It is a technology that allows projects issuing their tokens through other mainnets such as Ethereum, Tron, or EOS to maintain their original mainnet while using FLETA service chain. FLETA successfully opened beta testnet in March 2018, and in the upcoming August, it plans to launch its mainnet. Use cases utilizing FLETA's technology will also be publicised this year.
FLETA is a public blockchain platform with technology and business support services to blockchain projects. Dedicated to cultivating the most developer-friendly environment with more scalable, efficient and cost-effective, FLETA aims to accelerate the mass adoption of blockchain technology. Its core technology includes Independent Multi-chain structure, Block Redesign, LEVEL Tree validation, parallel sharding, and its own consensus algorithm Proof-of-Formulation (PoF). Additionally, FLETA enhances interoperability through the Gateway by enabling projects which are built on other mainnets and issuing their tokens through other mainnets to provide their service on FLETA service chain while maintaining their mainnets.