Trustlessly purchasing an NFT on Flare using the token of a different blockchain.

Dubai, United Arab Emirates, 23 February 2023, Chainwire

Data Layer 1, Flare, has completed a live demonstration of its new interoperability capabilities, which are currently in beta on the network. Using two core interoperability protocols, State Connector and Flare Time Series Oracle (FTSO), NFTs were purchased trustlessly and transactions were made on separate chains using separate tokens. The demo ran on Songbird, Flare’s canary network, and purchases were made using DOGE and XRP tokens.

Flare’s State Connector protocol uses EVM-based smart contracts on the Flare chain to enable secure, scalable, and trustless consumption of information from both other blockchains and the internet. In this case, it’s used to prove that the transaction was confirmed on a non-Flare chain, as well as verifying that it contained the correct payment reference.

Flare time series oracles deliver highly decentralized price and data feeds to Flare’s dapps. No need to rely on a centralized provider to bring your data on-chain. For demonstration purposes, we will provide live updated prices of NFTs in currencies of other chains.

Flare is an EVM-based blockchain, so anything you can do on Ethereum or any other EVM chain, you can also do on Flare. So the NFTs created in the demo are standard ERC721 contracts written in Solidity and deployed on the network. The only changes required were adding methods to integrate with FTSO and State Connector.

Hugo Philion, CEO and co-founder of Flare, said: The NFT demo is an example of a web3 utility that allows Flare to unlock legacy tokens, making them trustless for use in his dapps on the network. We look forward to helping other application engineers develop using the capabilities of Flare’s native interoperability protocol.
Demo video: https://www.youtube.com/watch?v=g0qxxm2EZjw

About Flare

flare An EVM-based layer 1 blockchain that provides developers decentralized access to trusted data from other chains and the internet. This enables new use cases and monetization models, allowing the app to serve multiple chains in his single deployment.

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.

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