Flare
Flare is a Layer 1 blockchain focused on creating deeper interoperability between different blockchains and decentralized applications. The Flare Network is supported by two protocols: the State Connector, which enables the use of outside blockchain data (such as asset-specific data or general information) on the Flare Network, and the Flare Time Series Oracle (FTSO), which serves as a source of reliable off-chain data to be used on the network. Flare’s native token, FLR, has multiple uses on the network, including incentivizing adoption and decentralization of the FTSO, securing the network, and participating in the network’s governance.
ABOUT FLARE
Flare delivers a full-stack solution for building secure, interoperable, and data-driven decentralized applications.
Flare's main innovation is its integration of the Ethereum Virtual Machine, allowing for smart contracts to be run and interpreted by networks that previously could not do so.
The FLR token is used to incentivize the use of the FTSO, secure the blockchain through staking, participate in network governance, and as a medium of exchange.
Flare Networks has partnered with various projects and blockchain networks to integrate and expand its ecosystem. Notably, the project has received support from the XRP community and is closely aligned with the XRP Ledger and its use cases.
KEY INNOVATIONS
State Connector.
Flare’s State Connector drives the network’s ability to offer blockchain interoperability. It ensures that the state of another blockchain is reliably recreated on Flare using decentralized technology.
Flare Time Series Oracle.
Flare uses its own oracle, the FTSO, which is a collection of data providers that provide information to be used on-chain.
Federated Byzantine Agreement Consensus.
Rather than using energy-intensive Proof-of-Work (PoW) or traditional Proof-of-Stake (PoS) mechanisms, Flare uses the Federated Byzantine Agreement consensus model which enables faster transaction finality and greater scalability.
CORE FUNCTIONALITY
Accurate decentralized prices.
The FTSO utilizes the network structure to deliver highly-decentralized prices and data series to dApps on Flare, without relying on centralized providers.
Secure state acquisition from other blockchains.
The State Connector allows information from other chains to be securely and trustlessly used on Flare.
Scalable EVM-based smart contracts.
Use EVM tooling and Solidity to launch any existing or envisaged EVM dApp on Flare.