156 - Interview with Bina Cho of FLETA

Fundamentally, a blockchain is a way of getting a bunch of computers to agree on what the true version of data really is.  This is called the consensus algorithm and is the heart of a blockchain project.  If you use proof-of-work, you will trade higher energy costs for a decentralized, secure system.  If you use proof-of-stake you will reduce the energy costs, but run the risk that the first adopters of the system had more control than people who join later.  But what if there's another way?

FLETA is a Korean-based project that uses a consensus mechanism called Proof of Formulation.  Their goal is to get a chain that is faster, stronger, more efficient.  Today I had the opportunity to chat with Bina Cho, one of FLETA's Directors, to find out more about their approach to blockchain.

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Please note that the speakers in this podcast are not financial experts and are not offering financial advice

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Intro reel and music by Sebastian Rodriguez from NTRPY, http://www.ntrpy.berlin

Editing by Aiden Lavallee