Introducing Flare
Flare emerges as a groundbreaking layer 1 protocol built on the Ethereum Virtual Machine (EVM), with a mission to enhance the utility of blockchain technology. Its primary objective is to provide developers with decentralized access to reliable data from various chains and the internet, fostering innovation and enabling novel monetization models.
What Sets Flare Apart?
At the heart of Flare's innovation lies its two native interoperability protocols, designed to seamlessly integrate decentralized acquisition of blockchain, time series, and Web2 API data. These protocols leverage the network's security, incentivizing independent data providers to ensure the accuracy and integrity of the data. Such an approach mitigates risks for both users and developers, laying a robust foundation for Flare's ecosystem.
The State Connector: Bridging Data Silos
The State Connector serves as a secure gateway for acquiring event information from disparate blockchains and the internet, enabling its utilization in Flare's smart contracts. Operating in a decentralized manner, this protocol ensures data acquisition is both secure and scalable. Independent attestation providers validate the authenticity of events, ensuring only accurate data is accessible to decentralized applications (dapps) on the Flare network.
Flare Time Series Oracle (FTSO): Decentralized Data Delivery
The FTSO harnesses Flare's network architecture to deliver decentralized prices and data series to dapps without reliance on centralized data providers. By offering reliable access to cryptocurrency prices, transaction details, and Web2 event data, Flare empowers developers to create applications with enhanced functionality, catering to a broader user base.
Utility of the Flare (FLR) Token
FLR serves as the native token within the Flare ecosystem, facilitating payments, covering transaction fees to deter spam attacks, and enabling staking in validator nodes. Additionally, FLR can be wrapped into an ERC-20 variant, WFLR, unlocking various functionalities such as delegation to FTSO data providers and participation in governance. These features complement FLR's compatibility with other EVM-compatible dapps and smart contracts on Flare.
Circulation and Distribution
Flare's genesis occurred on July 14, 2022, followed by a public token distribution event (TDE) on January 9, 2023. The initial supply comprised 100 billion FLR tokens, with 12 billion FLR circulating immediately post-TDE. The ongoing public distribution spans 36 monthly installments, ultimately providing 28,524,921,372 FLR to the community.
The Visionaries Behind Flare
Flare's inception can be attributed to the collective vision of its founders: Hugo Philion, Sean Rowan, and Dr. Nairi Usher. Their shared passion for distributed systems and machine learning, cultivated during their time at University College London, culminated in the creation of Flare, with Philion serving as CEO, Rowan as CTO, and Dr. Usher as Chief Scientist.
Accessing Flare (FLR)
Flare (FLR) is readily available for trading on various exchanges, offering cryptocurrency and stablecoin pairs to cater to diverse investor preferences. As Flare continues to garner attention within the blockchain space, its accessibility through multiple trading platforms ensures broader adoption and liquidity.
.png)
0 Comments