Is Fleta the new Big Thing? | Bitcointalksearch.org

normanva

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Your point of view is old-fashioned, as you focus only on bitcoin and it is not true that the search for higher TPS is archaic as practically all projects are behind its search.
For example in bitcoin you can see projects such as lightning network that seek to increase the speed of transactions.
Besides it is not reinventing the wheel, new projects bring new advantages and benefits e.g. ethereum brought intelligent contracts which allows you to do endless things. All the projects created in ethereum have in fact contributed to the increase of bitcoin value and as new projects arise bitcoin will benefit.

You have to accept that bitcoin has many problems like the following:

1. High centralization of the mining capacity to such an extent that it is impossible for a common person to do bitcoin mining.

2. High transaction costs what makes that when buying a hamburger the commission can be higher than the same price of the hamburger, which makes the bitcoin a currency not useful for daily life, remaining only in use for investment.

3. Long waiting times to confirm transactions that in peaks reach up to 3 days.

I could go on enumerating more disadvantages of bitcoin and why new projects are necessary to make cryptocoins for daily use.

To conclude the search for a higher TPS is current and necessary for the cryptos to evolve.

Quote from: nelson4lov on November 08, 2019, 03:23:13 AM

The battle and comparison for high TPS is becoming too archaic. Since Bitcoin emerged in 2009, nearly 50% of altcoins have claimed to be the fastest. They might be first during testing but they usually fall short of promises when they go live and get deployed. One other thing to consider is that Bitcoin is arguably not the fastest but it's still top. Gone are the days people are chasing high TPS. Instead focusing on solving a problem that already hasn't been solved (I'm a developer and if there's one thing we hate is reinventing the wheel). Also building a useful use case is the way to go.

o48o

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Quote from: Ferris419 on November 08, 2019, 06:35:28 AM

If I am not wrong, they raised a good amount from the private sale. For me, FLETA is one of the most promising projects of this year, I know this project before their sale when they announced the content bounty. I asked several times why your IEO/ICO raising target is too little? They said we have enough funds to run the project, this sale just for promotion widely. I asked the amount raised by the private investors, they denied disclosing. The same thing happened with the Nestree project, their sale target was approx 400K USD and that was for promotion because they were already funded enough before the sale.

I can't find anything by googling Fleta private sale. But anyway, i am pretty skeptic when there is a private sale and when they don't want to discuss the details of it because it's "private".
It messes up any calculations of token allocations or their real price because they could sell the tokens for -70% for all we know, or just give themselves 30% more of the tokens and say they sold it.

Ferris419

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Quote from: o48o on November 08, 2019, 03:56:13 AM

Quote from: johnbc on November 07, 2019, 01:48:30 PM

Their tech is interesting, but according to Icobench they raised only little bit over $80k. And looking all those advisors, bosses and the size of the whole team, that money runs out fast.
If the team was smaller they could be just more motivated to succeed, now i am afraid that they can't pay the salaries and this will be over soon. I am even surprised that they are still around tbh.

If I am not wrong, they raised a good amount from the private sale. For me, FLETA is one of the most promising projects of this year, I know this project before their sale when they announced the content bounty. I asked several times why your IEO/ICO raising target is too little? They said we have enough funds to run the project, this sale just for promotion widely. I asked the amount raised by the private investors, they denied disclosing. The same thing happened with the Nestree project, their sale target was approx 400K USD and that was for promotion because they were already funded enough before the sale.

Bitze

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Quote from: lolgato1 on November 08, 2019, 03:42:23 AM

There are so many high TPS blockchains but is this really what we are looking for? Do you think that people would rather use such blockchains only for high TPS rate? They will forget about Bitcoin´s security and stabillity?

it is very well brought to the point. it must be a harmony of security, usability and speed to survive in the big market.
only one of the three characteristics alone is not enough. it has to be the complete package. Wink

Bttzed03

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Quote from: johnbc on November 07, 2019, 01:48:30 PM

~
At the moment FLETA, as far as TPS is concerned, seems to be the solitary leader.

What's your opinion on this:

Quote from: https://coinspace.com/news/altcoin-news/syscoin-leads-offering-scaling-solution-more-60000-tps

ZDAG’s performance recently underwent an independent audit conducted by Whiteblock—a third party blockchain testing company. The test revealed that Syscoin could actually manage up to 145542 TPS under control group conditions and up to 60158 without the control group. These numbers are exceptional and unmatched in the crypto space.

That 14,000 looks inferior to the 60,000 TPS but as mentioned already by others, don't rely so much in marketing TPS.

o48o

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Quote from: johnbc on November 07, 2019, 01:48:30 PM

Their tech is interesting, but according to Icobench they raised only little bit over $80k. And looking all those advisors, bosses and the size of the whole team, that money runs out fast.
If the team was smaller they could be just more motivated to succeed, now i am afraid that they can't pay the salaries and this will be over soon. I am even surprised that they are still around tbh.

lolgato1

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There are so many high TPS blockchains but is this really what we are looking for? Do you think that people would rather use such blockchains only for high TPS rate? They will forget about Bitcoin´s security and stabillity?

nelson4lov

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The battle and comparison for high TPS is becoming too archaic. Since Bitcoin emerged in 2009, nearly 50% of altcoins have claimed to be the fastest. They might be first during testing but they usually fall short of promises when they go live and get deployed. One other thing to consider is that Bitcoin is arguably not the fastest but it's still top. Gone are the days people are chasing high TPS. Instead focusing on solving a problem that already hasn't been solved (I'm a developer and if there's one thing we hate is reinventing the wheel). Also building a useful use case is the way to go.

johnbc

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In its "Mainnet Performance Test Report " Fleta reports that it reached a speed peak of 14,000 TPS in real conditions which would allow to create really infinite DAPSS.

Many projects talk about scalability, thousands of transactions per second, of course, in controlled laboratory conditions.

According to the FLETA report (https://fleta.io/download/191021_Mainnet_Performance_Test_Report.pdf ), the test was conducted in real conditions, with 6 servers located in different regions of the planet: US, New Jersey; US, Miami; US, Dallas; DE, Frankfurt; FR, Paris; UK, London.

The test showed, according to FLETA, that its platform provides a consistent speed of 12,000 TPS, which separates FLETA from the others.

With an average of 450 ms to process and validate a block, FLETA would be able to generate two blocks per second, even with high latency.

These achievements allow FLETA to place itself one step ahead in the Trilemma domain (decentralization, network security, speed. Privacy is the fourth).

COMPETITORS

Besides FLETA other projects like Matic and Harmony are at the top of the food chain in the battle of TPS.

Telegram's TON, according to the developers showed a very high speed, but even the data has not been published.

As for TRON and EOS, which dominate the DAPPS market along with Ethereum, it is expected that they will be updated to improve their current results.

At the moment FLETA, as far as TPS is concerned, seems to be the solitary leader.

Topic: Is Fleta the new Big Thing? (Read 103 times)