While blockchain has made an immeasurable and immense amount of strides in terms of technological advancement during its short lifespan, a number of key problems with the technology as a whole still remain. For starters, the ability to seamlessly create applications, tokens, smart contracts and more for the blockchain ecosystem is a rare skill that is difficult to obtain, even for those who are keen to coding. Additionally, high gas fees and security issues commonly arise throughout the landscape.
This is precisely the concern our team at FST Network wanted to address head-on. With our 2-tier modularized network, Utilizing the power of Software Mining and Modularisation, we are working day in and day out to help bring blockchain to the masses by lowering its barriers to entry as much as we can.
What is FST Network
FST Network is a Layer 3 network, which integrates modular technology (software engineering, Blockchain engineering), which covers and connects all the existing first layer (Main chain) and second layer (service accelerator) technologies. Accompanied by our software mining mechanism that helps to dramatically increase the throughput/operation capacity of the protocol that we are attached to, creating a better user experience for the end-users.
Additionally, our system is compatible with Layer 2 solutions such as Casper and Plasma, enabling us to build on top of the efficiencies of these networks while simultaneously patching up the inefficiencies.
To help familiarize you with our product, here are some key benefits of using FST Network.
1. Lower Gas Fees
With the implementation of Software Mining ( Relay Network), FST Network will have the potential to decrease gas fees across the board for token transfers, as multiple token transfers will be packaged into a single transaction. In total, we are confident we can decrease the gas fees typically associated with trading by as much as 60%. ( We will release our simulation results in another article for our Relay Network )
With our software mining we are able to create a Native Token Environment for token issuers, for example, a de-ether environment for the end-users of a dApp built on top Ethereum, this removes the technical threshold or the need for an end-user to possess Ether in their wallet, in order to make a simple transaction, with that intuitive on the blockchain is achievable, as it feels natural.
Additionally, by using modularization, we are making it simple for all people (even those who cannot code), to tokenize their businesses and take full advantage of the blockchain ecosystem.
3. Safe & Secure
With the infamous DAO hack along with a variety of other noteworthy security breaches, we know how massive issue security is when it comes to the blockchain. That is precisely why we take pride in ensuring all of our users are safe and secure when it comes to their data and privacy. FST Network is executed on chain and broadcast onto the public chain, guaranteeing consistency in data across the board.
For any and all protocols supported within our system, FST Network helps to drastically increase throughput/operation capacity of the protocol that we are attached to. This enhanced speed enables users to grow without the fear of issues arising as a result of scaling. With our modularized products, scalability will never have to be an area of concern for you again, allowing you to take your business to the highest heights you possibly can.
5. Everything You Need, All in One
One of our primary objectives here at FST Network is to help expedite the mainstream adoption of the blockchain ecosystem as a whole. Only by making the process of tokenization streamlined and simple will entrepreneurs from all walks of life are able to benefit from the many advantages blockchain can bring to it. Only by making the ecosystem friendlier for all will the space progress in a healthy manner.
Only by supporting different protocols, can we become the foundation of interchain and enabling crosschain transactions. **Demo to be released soon
This is why we made our product all-encompassing and holistic in nature. We have worked hard to ensure everything a user needs when it comes to their tokenized business is in one convenient location.
6. Relay Network
We use our unique Smart Contract to create a double layer mining environment. Because participants and executors of Software Mining are verified by the Miners of the Blockchain we are attached to, the system is both highly reliable and extremely efficient, increasing the throughput and operation capacity by 200- 400 times.
This is mainly due to the fact that Relay Network is able to collect and compact multiple token transactions into a single transaction, allowing for a significant cost reduction along with a much higher return for the end user.
There are a lot of things to consider when it comes to tokenizing your business for blockchain. That being said, here at FST Network, we want to make sure efficiency is not one of the obstacles getting in the way of you adopting this groundbreaking technology.
We started off with Modules, to provide a complete, reusable and extendable toolsets, to ease the process of building a Blockchain Application.
And now, with Software Mining, we believe that we are enabling a friendly ecosystem, not just for developers but for every player in the Blockchain space.