On Tuesday, Fleta Chain announced its partnership with a Korean firm Crust Network for technical cooperation in a (blockchain-based) cloud project.
Founded in 2018, FLETA is a blockchain platform developed by Sendsquare. It holds multiple specialties including PoF (Proof-of-Formulation), smart contract, consensus algorithm, blockchain, LEVEL tree, Parallel Sharding, and more. Recently, it has partnered with CRUST Network to enhance its existing chain’s performance and market outreach. Plus, there is a purpose of achieving a broader ecosystem by merging the competencies of both the networks.
This partnership aims to connect the Korean and Chinese markets via a mainnet ecosystem built on the core technologies of both the firms. Additionally, the companies are working together to launch Crust Network mainnet by the end of this year. Once this mainnet would be complete, FLETA and CRUST have plans of sharing networks and resources to connect the markets of Korea and China via a joint project of blockchain commercialization.
FLETA has its eyes on S3-like portal of Crust Network, adapting it to the existing use cases and FLETA chain. For the Crust Network, it is FLETA Formulator’s cloud mining network which it will adopt to launch its own mainnet. Additionally, both the companies will be sharing the market networks and resources (of both Korea and China) to proceed with some joint projects aiming to promote FLETA in the Chinese market.
Based on the Trusted Execution Environment (TEE), Crustnetwork is a decentralized cloud blockchain technology. With its incentive layer protocol, it establishes its own decentralized cloud ecosystem. It extends its support to implement application layers, multiple storage protocols like IPFS, a decentralized computing layer, or a cloud ecosystem.
Apart from joining hands with Crust Network, FLETA has done various other strategic partnerships with several others. Some of the big names include Chainlink, Wanchain, NEO, WINK, Tomochain, and Matic Network. Through all these partnerships (including Crust Network’s), the aim of entering the international markets is clear at FLETA’s end.
If we talk about South Korea, Sendsquare (parent company of FLETA) has already worked on various application development projects. And, its collaboration with Crustnetwork is another step toward building real blockchain applications in the Korean market.