As reported by Cointelegraph, Flare, a layer 1 Ethereum Virtual Machine (EVM) blockchain platform, has announced two core protocols aimed at supporting decentralized interoperable applications.
According to Cointelegraph, the platform will act as an oracle network, allowing developers to build applications that interoperate with various blockchains and internet protocols. Flare reportedly consists of two of her protocols underpinning its application building suite. The State Connector protocol makes information and data available at scale from various blockchain and internet sources through smart contracts.
Based on Cointelegraph information, Flare Time Series Oracle (FTSO) will provide the source, decentralized price and data feeds to decentralized applications (dApps) residing on the Layer 1 blockchain platform. Insights from Flare’s technical documentation show that FTSO smart contracts provide continuous predictions for different types of data. The independent provider is believed to protect information from external sources such as centralized and decentralized exchanges and provide that data to his FTSO system. Two networks, with protocols called Songbird and Flare, reportedly power his EVM, allowing smart contracts and tools to be directed at advancing smart contracts and applications.
Hugo Philion, co-founder and CEO of Flare, said:
Additionally, Cointelegraph noted that Flair will begin airdropping tokens on January 9, 2023, with 4.27 billion FLR tokens distributed among users on various cryptocurrency exchanges. The remaining allocation modes for token supply were reportedly sorted by community vote through Flare Improvement Proposal 01.
(Including insights from Cointelegraph)
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