The luminous airdrop begins, XRP holders receive a portion of 4.279b FLR
The Flare Network, an interoperable blockchain based on the Ethereum Virtual Machine (EVM) using a proof-of-stake consensus algorithm, has started dropping coins, according to a press release on Jan. 9.
The platform began distributing coins from 11pm UTC on January 9, distributing a portion of 4.279b Flare (FLR), the native coin, to millions of XRP holders on leading exchanges, including Binance, OKX, Kraken, and other top slopes.
Airdrop FLR represents 15 percent of the total supply. Flare gives FLR to XRP holders in the snapshot held on December 12, 2020, at the rate of 1 XRP to 1.1511 FLR.
After yesterday’s airdrop, the platform will distribute the remaining coins every month for the next three years.
Building dApps to serve the masses
The FLR Airdrop is a significant milestone for Flare and its community. Because of how the blockchain is designed, it will be possible for FLR owners to take advantage of Flare’s interoperability while also using some of the platform’s core features.
Flare Network has native data acquisition protocols. The developers claim that the decentralized base layer secures these protocols. In this way, communication agents are guaranteed to receive high-quality data from integrated blockchains and protocols. Ensuring data quality, scalability, and interoperability allows developers to expand use cases while also rolling out high-quality projects.
After the airdrop, Hugo Philion, CEO and co-founder of Flare, said developers can start building secure solutions that can provide benefit to a wide range of users.
Flare’s goal is to enable developers to build apps that securely access more data. This can enable new use cases, such as initiating a Flare smart contract action with a payment made on another thread or an 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 such as DeFi protocols. “
Flare Time Series Oracle (FTSO) and case connector
The Flare Network consists of a Flare Time Series Oracle (FTSO) and a state connector.
Specifically, the state connector is the consensus element, allowing validators to independently agree on data drawn from other blockchains. It is powered by validated smart contracts on the Flare network. Furthermore, the security of a state connector is not related to the number of coins in the network.
The FTSO is a decentralized dApps that compares oracles on its network with a cryptocurrency price feed. The feeds are updated every three minutes giving supported systems an advantage.
In October 2022, BlazeSwap said they will deploy on the Flare Network, relying on a layer-by-layer FTSO.
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