Layer 1 Oracle Network Flare initiates an expected history flight release

Image : thenewscrypto

On January 9 at 23:59 UTC, Flare, a blockchain for developing applications using data from other chains and the Internet, successfully launched its long-awaited token flight program. One of the largest distributions in cryptocurrency history, the airdrop saw 4.279 billion Flare (FLR) tokens distributed to millions of recipients, including users of Binance, OKX, Kraken, Bithumb, UpBit, Kucoin, and more. 

 "For the blockchain industry to thrive, we need more useful decentralized applications. Flare addresses this with data, not just prices, but event data, Web2 events, etc., so that developers can build applications that provide more benefit to more large group. of users." 

 Hugo continues: "The goal of Flare is to enable developers to build applications that securely access more data. This could enable new use cases, such as triggering Flare's smart contract with a payment on another chain or on the Internet/web2. API flow . . . It also enables a new way of bridging, bringing specifically non-smart contract tokens to Flare for use in applications such as DeFi protocols. 

 State Connector protocols allow data to be used in Flare smart contracts in a secure, scalable and reliable way. This provides online access to an efficient data format and enables the development of additional solutions that use cross-chain communication. State Connector is secure because it uses a binary fork protocol with a distributed collection of certificate nodes. This combination allows State Connector to compete with a largely hostile group of data providers. 

The security of the  State Connector is not limited by the amount of contribution to the system, unlike a proof-of-interest system where data providers must contribute money. As a result, the State Connector provides a secure system that can handle large values ​​and whose security depends on the size of the transaction. 

 Flare decentralized applications (dapps) can obtain highly decentralized prices and data series independently of data from external sources thanks to the Flare Time Series Oracle (FTSO). Instead, it uses a grid structure. FTSO is a highly decentralized data flow oracle, as it prompts about a hundred different data sources to produce reliable data every three minutes. 

 The first 15% of the total public token distribution, called the Flare token distribution, will be distributed in monthly installments over 36 months. Based on the community voting results on Flare Improvement Proposal 01 (FIP.01), the allocation mechanism for the remaining 85% token proposal will be determined.

Source: thenewscrypto

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