What is Flare?
Flare is a blockchain for data, an EVM-based layer 1 that gives developers secure decentralized access to high-integrity data from other chains and the internet. The Flare network utilizes the FLR token to power its bridge operations, ensuring seamless interaction and integration for various cryptocurrencies like XRP. Flare aims to potentially unlock the full potential of blockchain technology by providing reliable access to cryptocurrency prices, detailed transaction information from other chains, and Web2 event data.
Flare goals
The purpose of Flare is to provide developers with secure decentralized access to data from other chains and the internet. This enables the development of applications that offer enhanced utility to a wider user base. Flare aims to solve the problem of limited data access and interoperability between different blockchain networks. The potential use cases and applications of the technology include building cross-chain applications, providing decentralized data feeds, and enabling the use of real-world assets on the blockchain.
Flare fondamentals
The total maximum supply of FLR will be 100 billion once available for trade and as a digital payment method. The token distribution plan includes 58% of the tokens going to the Flare community via airdrops, 19% allocated to the development team, backers, and advisors, and 22.5% reserved for product development and investment.
Marketcap
$1.624B
Total number of Flare
102908941664 FLR
Flare technology
Flare is built on a proof-of-stake (PoS) consensus algorithm and utilizes the Ethereum Virtual Machine (EVM) to enable the execution of smart contracts. The Flare network also uses the Flare Consensus Protocol, which is a variant of the Federated Byzantine Agreement (FBA) consensus mechanism. The network's architecture is designed to provide secure decentralized access to data from other chains and the internet.
Flare competitors
Flare differentiates itself from competitors through its ability to provide secure decentralized access to high-integrity data from other chains and the internet. Its competitive advantages include its use of the Ethereum Virtual Machine, its State Connector Protocol, and its Flare Time Series Oracle Protocol. Flare is positioned to compete with other blockchain networks that aim to provide interoperability and decentralized data access.
Flare price history
Frequently asked questions
The Flare Network is a blockchain for data, an EVM-based layer 1 that gives developers secure decentralized access to high-integrity data from other chains and the internet.
FLR is used to power Flare’s bridge operations and ensure seamless interaction and integration for XRP and other cryptocurrencies.
The Flare network functions as a Turing-Complete Byzantine Agreement Network, which uses the Flare Consensus Protocol.
The Flare State Connector Protocol is a smart contract allowing the Flare Network to collect data from any connected blockchain in a decentralized and secure manner.
The Flare Time Series Oracle Protocol is a cross-chain data collection and validation feature on the Flare Network that collects time-specific data from other blockchains and the internet.
Songbird is Flare’s ‘Canary’ network, a test/experimental network with the exact same features and functionality as Flare.
The use cases of FLR include payments, staking, transaction fees, voting, and preventing spam attacks.
Flare differentiates itself from competitors through its ability to provide secure decentralized access to high-integrity data from other chains and the internet.
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