The Layer 1 oracle network, enables access to data from web2 to web3. It keeps track of data from all kind of blockchains, including non-smart contract ones like Bitcoin, Ripple or Litecoin.
The goal is that users from Flare users to massively use decentralized applications. Also, web3 developers will have the opportunity to build more in an innovative way. So, in this article, you will have more details about its token launch.
Flare’s Token Airdrop Can Scale Adoption
With a total of 4.279 billion FLR tokens, Flare’s token airdrop will be distributed in very popular exchanges like Binance, OKX, Kraken, KuCoin, among others. It will be one of the biggest distribution of a token airdrop in the industry. This token airdrop represents the first 15% of the total public token distribution that will be distributed in 36 months. Flare’s Community can vote here.
The FLR Token Distribution event is just 24 hours away.
— Flare ☀️ (@FlareNetworks) January 8, 2023
As a result of the airdrop, developers can now begin to utilize Flare’s native data gathering protocols, the State Connector, and Flare Time Series Oracle, as well as its EVM. These network-secured native protocols allow for decentralized access to high-integrity data from other blockchains and the internet, opening up new use cases and revenue streams.
Hugo Philion, CEO & Co-founder of Flare said: ““For the blockchain industry to flourish, we need more useful decentralized applications. Flare is tackling this through data, not just prices but transaction details, Web2 events etc, so that developers can build applications that provide more utility to a larger group of users.”. Also, Philion said: ““Flare’s objective is to enable developers to build applications that securely access more data. This could enable new use cases to be built, such as triggering a Flare smart contract action with a payment made on another chain, or with input from an internet/web2 API. It also facilitates a new way of bridging, specifically to bring non-smart contract tokens to Flare for use in applications like DeFi protocols.”
Two Flare’s Improvements to Use On-Chain Data
The Flare State Connector protocols allow data to be used securely, scalably, and trustlessly in Flare’s smart contracts. This leverage data quality on the network and incentize the development of more cross-chain alternatives. The State Connector’s security attracks fraudulent data providers hacks. In the proof of stake-based system, data providers have to stake value. However, in Flare, data providers are not limited by the number of staked value. In other words, the State Connector doesn’t depend of the transaction’s size.
Its all about data. @FlareNetworks appears to have reverse engineered a system that solves for decentralised acquisition of external data. If this system could operate at scale, it would have the potential to be the de facto source of truth.
I expand on my prev thread 👇 https://t.co/s9COi1tc3p
— Ash W ☀️ (@banker_defi) January 9, 2023
On the other hand, the Flare Time Series Oracle (FTSO) makes use of the network structure to provide highly decentralized prices and data series to Flare dapps without depending on centralized data suppliers. The FTSO is an oracle with highly decentralized data, with nearly 100 individual data providers incentivized to provide consistent data every three minutes.
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