-- FLETA will provide its own blockchain and PoF mining system to Heart
-- Through the contract, Heart Number and FLETA will issue Heart Number's
own coin and mainnet, gateway, block explorer, and wallet for Heart
Number will also be provided.
SEOUL, South Korea, Oct. 9, 2019 /PRNewswire/ -- Sendsquare, a blockchain technology company, announced on September 30th that its blockchain platform FLETA has signed a contract to develop proprietary blockchain technology to support the mainnet of the AI trading platform, Heart Number.
Under the agreement, Sendsquare's FLETA will build Heart Number's mainnet and Heart Number will apply FLETA's own consensus algorithm, Proof-of-Formulation (PoF). The details of development include a mining portal page for early mining applications, a block explorer that can monitor coin trading, a gateway, proprietary formulas, a wallet specifically for the Heart Number network, and the PoF mining system.
In addition, Sendsquare will support the parts that require the use of blockchain technology by linking the service of the mainnet and the Heart Number trading application. Sendsquare plans to support building blockchain ecosystem for Heart Number by utilizing the gateway system that can freely switch between its own coin and its ERC-20 based Heart Number Token without harming the existing environment.
Heart Number is a trading platform that provides distributed prediction information using artificial intelligence (AI) and offers automatic ordering for users of its application. In addition to the 30-day price monitoring and prediction service, which is the first of its kind, Heart Number provides tracking system of price rises and drops. In particular, the sector sale function, which was introduced for the first time in Korea, can effect up to seven automatic orders at the same time, prevent initial purchases in preparation for price drops immediately after activation, and introduce predictive information that can help determine when to close trades. Heart Number is preparing a multilingual version for coin traders around the world based on its high level of automatic ordering technology.
FLETA is a mainnet project that benefits from the speed of 20,000 TPS and allows for the infinite expansion of DApps. It is currently providing mining services by adopting PoF consensus algorithm and is preparing to launch a use case within the year. The company is planning to launch three blockchain game services: Wallet Warrior (a RPG), Star War (a puzzle game), and FLETA Slots (a game of chance).
Sendsquare participated as an official Asian partner at the Delta Summit in Malta this year and brought the CEO of Heart Number, Ethan Chae. It will share its vision with leading technology companies in the 4th Industrial Revolution, including AI, AR & VR (Augmented Reality & Virtual Reality), and Internet of Things (IoT), and will act as a bridge between Europe and Asia.
Ethan Chae, the CEO of Heart Number, said, "The existence of its own mainnet is important in the service of continuous sales, conditional sales and interlocked sales. The mainnet will also provide the motivation of staking and facilitate the fun of airdrop events, and it will become an essential element in forming the Heart Number ecosystem of various paid products without passing those fees on to the users."
Mr. Hong Jong-ho, the CEO of Sendsquare, said, "Heart Number is a reliable partner of FLETA and a party to the first technical service contract. Through linking Heart Number's excellent service with FLETA's high performance, convenience can be maximized for all users."
FLETA is a blockchain platform that aims to offer infrastructure that can be applied to real-world business models. FLETA has its own core blockchain technologies like Level Tree Validation, Parallel Sharding, Independent multi-chain Structure, Block Redesign, and PoF(Proof-of-Formulation) which is its own consensus algorithm. With them, it aims to solve problems that existing platforms have such as slow speeds, scalability limitation, and excessive fees and provide a flexible development environment. By doing so, FLETA is aiming to drive the commercialization of blockchain technology. Moreover, through its Gateway technology, it enhanced its interoperability by allowing projects issuing their tokens through other mainnets such as Ethereum, Tron, or EOS to maintain their mainnets while using FLETA service chain.
After it successfully opened its beta testnet in March 2019, Genesis Block was generated on 23(rd) July 2019 and FLETA mining and mainchain have been well operated since then. FLETA Developer Portal with tech guide-line documentations will be opened in early September.
FLETA focuses on the commercialization of blockchain technology with its use cases; FLETA is developing its own game DApps and a DApp collaborating with its partner. In addition, FLETA has been selected as project conductor of blockchain PoC project backed by the South Korean Government. FLETA is putting real clinical trial data onto a chain and its application will be launched in Q4, 2019.
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CONTACT: James Song, Head of Global Strategy, FLETA Pte. Ltd., +82 (0)2 3288 9900, firstname.lastname@example.org