A DECENTRALIZED PLATFORM AIMING TO REVOLUTIONIZE ELECTRONIC TRANSACTIONS AND SETTLEMENTS
We have created a decentralized platform that will solve all your electronic settlement woes. Existing systems on operational blockchains are crippled with huge network load, and hence they are vulnerable to security threats apart from being obnoxiously slow.
Our uniquely designed blockchain makes best use of Artificial Intelligence and other such advanced authentication methods. Thereby, it dares to promote secure and safe transactions of any volume all across the globe.
FESS is Mainstream Technology where Speed combines with Security not only theoretically but in practical means. Most of the projects running at present either claim to deliver speed or safety. None of them has sincerely found a solution for scalability where people can easily transact with supersonic speed or can run a DApp with the full potential. FESS dares to not only Work on this issue but also solve it.
The Present Technology
Most of them who are claiming speed are using sharding with Proof of Stake (PoS) to deliver a lightning fast transaction network. The PoS mechanism gives digital coin owners the ability to hog the entire network. If they purchase large amounts of coins at once and hold onto the majority of the coins in existence, they increase their likelihood of dominating the network, forging most of the future blocks, and earning the coins made from these blocks. Such happenings create an oligarchy like a situation whereby it is in the best interest of these coin holders to make changes that benefit them the most. And since sharding in a whole can’t be exercised on Proof of Work (PoW) so talking about creating shards is not a possibility.
What’s New with FESS?
FESS is combining Proof of Proof (PoP) methodology with AI and basic features of sharding into a new blockchain. FESS chain verifies every block with Bitcoin blockchain mined blocks, which makes FESS practically unhackable. Even if someone hacks into our blockchain, the very next block verifies back and returns where the original verified block was mined.
FESS Chain and Sharding
Let’s understand the concept of sharding first; it is a data partitioning into several small databases called Shards. In blockchain it states not every node needs to save all the problems, it can be saved in parts, whereas in FESS we believe
- Every node doesn’t need to save all the meta data.
When a Person X pays PP amount to Person Y, then no one cares as the transaction is complete and settles. But in a real sense, it is a point which holds value because of the transaction existence matters. So, the need for a Proof of Transaction (PoT) is simply inevitable.
- All the processing shouldn’t be done by each node every time.
Whenever the data is processed depending upon its size and difficulty the AI dynamic code used in FESS breaks it into the parts and simultaneously generates multiple numbers of sub-nodes under a single node to process fragmented data (to be processed).
When the whole processing is complete, only proof of the existence of the transaction gets recorded on our blockchain and verifies itself from the bitcoin blockchain. Since we dynamically break the core’s power to make a hybrid sub-node to process the whole transaction, we can simultaneously process original data into fragments
Generally, blockchains have a definite number of shards where data is recorded and/or Stored.
Do not have any ‘fixed number of slots’ to be saved. FESS has only one main chain where only relevant data is recorded by verifying itself from the bitcoin blockchain and/or the timestamp
Shards are theoretically distributed data saved at different nodes. With the passing time, it only gets more cumbersome and will end up having slow transaction speed, resulting in scalability issues (that was the central idea initially).
The main chain of FESS only saves Proof of Transaction (PoT), and since it distributes the core’s power into fragments thus it directly proportionates the size and difficulty of the data to be processed
The Speed which is recorded in terms of Transaction per Second (TPS) is a severe problem with most of the prominent blockchains. The TPS gradually falls.
The algorithm used in FESS solves this problem as it merely works in the Opposite Manner. With ever increasing data and nodes to be implemented the TPS of FESS Blockchain will go upwards instead of falling down
Trust and Transparency
The complete decentralized architecture on FESS instills the much needed trust and transparency within all transactional networks.
A double layered authentication method of transactions, based on blockchain technology makes it virtually impossible to hack into our system.
Our unique parallel processing algorithm ensures 450-900 transactions per second(TPS), way ahead of existing solutions.
Fesschain platform through its token powers individuals and business for their various needs.
Breakdown of our Token Recipients.
- Token Allocated for Sale6% Token Allocated for Sale
- Token Allocated for Team & Corporation24% (Token Allocated for Team & Corporation)
- Token Allocated for Mining25% (2.5 Billion)
- Token Allocated for Development & FESS drop34.4% (3 months lockup)
- Token Allocated for Airdrop / Bounty & others0.5% (50 Million)
- Token Allocated for Maintenance (Reserved)10% (1 Billion)
- Token Allocated for ICO Marketing Expenses0.1% (1 Million)
With the help of our team, contributors and investors these are the milestones we are looking forward to achieve.
In-house DApps Prototype Launch
Chain Implementations Content Sharing
In-house DApps Launch.
Launching of Internal exchange and Testnet.
Testnet bounty with public
Main Net Launch
Download Litepaper and learn about FESS, the unique FESS Chain approach and the team/advisors.
What is the technology behind the FESS?
FESS Chain is built with the most sought after combination of advanced Blockchain and Artificial Intelligence.
What problem is FESS Chain eyeing to solve?
FESS Chain is dedicated to solve the existing problems of security and scalability in the blockchain space. Additionally it will optimize the existing scenario of electronic settlement systems.
What are the main objectives of FESS Chain?
The primary objective of FESS Chain is to create a Universal Settlement System(USS) on our own blockchain which offers both security and high transactional speed at the same time. Also, our platformance will be augmenting for a Fiat-less Economy and Integration of all possible practical use cases with blockchain.
How is FESS Chain different from other blockchains?
FESS Chain offers a super secured multi-layered blockchain with a unique authentication which verifies every transaction with the highly diversified and secure Bitcoin Blockchain and/or the timestamp of that transaction. This makes our blockchain practically unhackable that too without compromising the speed.
What is the most prominent feature of FESS Chain?
FESS Chain enables fragmented and parallel processing of transactions to increase transaction speed by reducing data load on the blockchain.
On what level will FESS Chain be able to optimize transaction speed on blockchain?
FESS Chain will be able to process 400 to 950 transactions per second(TPS) once it will be fully operational.
How is FESS Chain related to sharding?
Our concept is very much similar to sharding, except a minor tweak. We will have no definite number of shards. It will actually be dependent on the load of the chain in terms of size of data into processing, at a particular instance. Our AI driven hybrid codes will determine the load and depending on the requirement, parallel processing will occur. Since this is directly proportional to the load and data this algorithm will increase our TPS in meantime .
How does Smart Contracts work on FESS Chain?
The working of Smart Contracts of FESS Chain is more or less similar to other blockchains but on our platform multiple smart contracts can be executed simultaneously.
Are there any additional security features in FESS Chain?
FESS Chain is already highly secured owing to a multi-layered authentication method involving the timestamp of a transaction and Bitcoin Blockchain. Apart from that, we have also implemented BIP32 Transfer Protocol and a Proof of Proof(PoP) Mechanism to ensure top class security standards.
What is the platform architecture of FESS Chain?
FESS Chain is a completely decentralized platform which leverages all the underlying features of blockchain technology i.e Trust, Transparency and Security.
How FESS Chain can be implemented in the mainstream? / What are the applications of FESS Chain?
Our in-house DApps will be a powerhouse to innumerable use cases. Online Fitness Training Application, an exclusive Supply Chain, a content sharing platform have already that we have started off with.
Does FESS Chain have a native token?
Yes, FESS Chain does have an ERC20 type native utility token.
How many tokens will be available for distribution?
600.000.000 FESS tokens will be available for distribution in various phases through a token sale mode.
What is the role of AI in FESS Chain working?
FESS Chain’s AI powered technology will create one or more sub-chains and transfer excessive data on to these subchains, depending upon the need of our blockchain i.e depending upon the existing load of data on our main chain.This will essentially reduce the load on the chain and increase the transaction speed simultaneously.
How will FESS Chain be made available for mainstream implementation?
Please refer to our Roadmap.
Who are the key people at FESS Chain?
FESS Chain has been created by Mr. Durga P. Tripathi and Mr. Praveen K. Sahani who have been serial entrepreneurs and successfully executed several tech projects in the past. They have a strong hold in the blockchain industry and are experts in the core development & blockchain implementation.
Why are you releasing a separate roadmap for different events ?
We believe in the essence of blockchain technology which is all about transparency and real time tracking of data. We value your support and time, hence we are looking to keep you updated in real time as and when we progress with the project. Hence we will be presenting updated roadmaps throughout the project.
When will you be doing ICO and different sale of tokens?
We are looking into all the possibilities regarding ICO launch and token sale. We will update once finalized. Keep following us on our social handles to keep abreast.
We are always open and we welcome any questions you have for our team. If you wish to get in touch, please fill out the form below. Someone from our team will get back to you shortly.