Flare Launches Layer 1 Oracle Network

Dubai, United Arab Emirates, January 10, 2023, Chainwire

Flare, a blockchain for building applications that use data from other chains and the internet, successfully completed its long-awaited airdrop of tokens on January 9th at 11:59pm (UTC). . In an airdrop, one of the largest distributions in cryptocurrency history, he sent his 4.279B Flare (FLR) to millions of recipients, including users from Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, BitBank and more. Tokens have been distributed.

The airdrop is an important milestone for Flare as it now gives developers access to Flare’s EVM and native data acquisition protocols State Connector and Flare Time Series Oracle. Secured by the network, these native protocols provide decentralized access to trusted data from other blockchains and the internet, enabling the creation of new use cases and monetization models.

Hugo Philion, CEO and co-founder of Flare, said:

“For the blockchain industry to thrive, we need more convenient, decentralized applications. Flare is tackling this through data such as transaction details, Web2 events, and not just prices, so developers are more We can build applications that provide more utility to groups of users.”

Hugo continues. This has the potential to build new use cases, such as triggering Flare smart contract actions on payments made on another chain or inputs from internet/web2 APIs. He will also facilitate new methods of bridging, especially for bringing non-smart contract tokens to Flare for use in applications such as the DeFi protocol. ”

flares state connector The protocol enables secure, scalable, and trustless use of information using Flare’s smart contracts. This will provide the most powerful class of data on the network and enable the construction of more cross-chain solutions. State Connector derives its security by combining a decentralized set of authenticators with a binary his fork protocol. In contrast to proof-of-stake based systems where data providers are obliged to stake their value, State Connector’s security is not limited by the amount staked into the system. This means that State Connector safety is immutable relative to transaction size. This provides a secure system that can handle large amounts of value.
of flare time series oracle (FTSO) leverages its network structure to deliver highly decentralized price and data series to Flare’s dapps without relying on centralized data providers. FTSO is a highly decentralized data feed oracle where nearly 100 independent data providers are encouraged to provide reliable data every 3 minutes of him.

The Flare token distribution represents the first 15% of the total public token distribution, with the remainder distributed monthly over 36 months. How the remaining 85% of the token supply will be distributed will depend on the results of community voting. Flare Improvement Proposal 01 (FIP.01).

About flare
flare is a layer 1 oracle network that allows developers to build applications that interoperate with blockchains and the internet. By providing distributed access to highly consistent data, Flare enables new use cases and monetization models.

flares state connector The protocol uses Flare’s smart contracts to enable secure, scalable, and trustless use of information from both other blockchains and the internet.

of flare time series oracle Deliver highly decentralized price and data feeds to Flare’s dapps without relying on centralized providers.

Build with Flare with more data than ever before, or build with Flare to serve multiple ecosystems.


Nadav Dachner [email protected]

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