Blockchain project FLETA recently announced an agreement with the software giant Oracle. The partnership focuses on FLETA’s use of Oracle Cloud Infrastructure (OCI). The blockchain project plans to implement OCI to enhance the capabilities of the FLETA cloud server. In turn, a more robust FLETA cloud server will enable the blockchain’s mining nodes to support enhanced stability and scalability for the entire network.
According to James Song, FLETA’s Head of Global Strategy:
“By using trusted OCI, FLETA aims to manage a stable ecosystem. Moreover, by agreeing to work with Oracle, we are taking another step forward to expand globally.”
Oracle Expands Blockchain Industry Participation
Oracle continues to be a leading innovator in cloud infrastructure and enterprise blockchain solutions. The Oracle Blockchain Platform, which is built on IBM Hyperledger Fabric open-source software, supports plug-and-play integrations with Oracle SaaS, Oracle Banking API, NetSuite ERP, and more. Oracle also has several ready-to-go blockchain applications.
For example, Oracle Intelligent Cold Chain can be used for managing supply chain logistics in the food and pharmaceutical industries. Oracle Warranty and Usage Tracking can be used to track high-value assets for rental, warranty, service, and insurance.
Besides FLETA, Oracle has also reached agreements with other popular blockchain platforms. In December 2018, OriginTrail (TRAC) partnered with Oracle to connect ERP systems and cloud services for trusted data sharing. In September 2019, 0Chain (ZCN) partnered with Oracle to offer an enterprise solution for data validation of documents and other files.
FLETA signs an agreement with @Oracle! FLETA will use Oracle Cloud Infrastructure for the more stable and secure ecosystem! FLETA will keep expanding our project globally🥳😊https://t.co/um9honMQxN#FLETA #blockchain @FLETAJamesSong @henry_fleta
— FLETACHAIN (@fletachain) May 18, 2020
FLETA Advances Blockchain Capabilities
Having launched its mainnet in July 2019, FLETA (FLETA) is a relatively new blockchain network that aims to provide an improved experience over previous generation networks. FLETA uses a unique consensus mechanism called Proof of Formulation (PoF) for transaction validation.
PoF aims to solve the limitations of both Proof of Work (PoW) and Delegated Proof of Stake (DPoS). The network also includes a number of other technical innovations for increased performance.
Block size reduction, data validation size reduction, and parallel sharding all provide the foundation for a high level of scalability. FLETA currently achieves an average of 7,000 transactions per second and is already capable of reaching 14,000 transactions per second. The network also uses a multi-chain structure, meaning that each dApp can run on its own chain. This enables developers and users alike to avoid many of the congestion issues (e.g. limited scalability and high transaction costs) traditionally found on single-chain networks.
In addition to the recently-announced Oracle agreement, FLETA has partnerships with three well-known blockchain projects: NEO, Wanchain, and TomoChain. In 2019, the national government of South Korea chose FLETA to develop a Proof of Concept (PoC) for a blockchain-based clinical data management system.
