What do you get when you combine the best of XRP and ETH? The answer is FLARE. Flare is the world’s first Turing complete FBA (Federated Byzantine Agreement) network.
What is FBA?
Consensus is generally reached via a Byzantine Agreement. Nodes validate data blocks by reaching consensus on a solution to a problem. A Byzantine Agreement is reached when a fixed minimum number of blocks (quorum) reach consensus. In FBA, these nodes do not have to be verified in advance or known; control is not centralized and membership is open.
What does Flare combine?
Flare is a combination of the best of XRP, Ethereum, and Avalanche. Flare is scalable and doesn’t depend on its native token, SPARK, for safety, which eliminates the risk of degradation of safety. It integrates EVM (Ethereum Virtual Machine) for development of smart contracts. The transaction speed and cost is compatible with XRP.
What is the native token of Flare?
The native token of Flare is called a SPARK. It is a utility fork of XRP and XRPL. It will also be the governance token for Flare and contribute to its time series oracle.
How do you claim Spark tokens?
45 billion SPARK tokens will be awarded to XRP owners (except Ripple Labs and a few previous Ripple employees) in an approximate 1:1 ratio. So if you are holding 1,000 XRP, you will be awarded with approximately 1,000 SPARK tokens if your exchange supports this airdrop.
When will the SPARK airdrop take place?
The snapshot of XRP balance will be taken on December 12, 2020, and SPARK tokens will be distributed to XRP holders in the first half of 2021.
Why is the distribution ratio ‘approximately’ 1:1?
On December 12, 2020, a snapshot of all XRP ledger addresses will be taken. From this snapshot, Ripple-owned XRP and certain previous employees’ settlement XRP will be removed. Also, the snapshot of non-supporting exchanges will be removed. 45 billion SPARK will then be distributed among all the other addresses. So, the lesser the number of exchanges supporting this airdrop, the greater the number of tokens will be distributed to individual XRP holders.
Which exchanges are supporting the SPARK airdrop?
So far, many exchanges like Bitrue, Bitbay, BTCMarkets, Coinfield, eTORO, etc. have supported this airdrop, and more exchanges are getting added. You can view the complete list here.