Deep Dive
1. Purpose and data infrastructure
Flare aims to make blockchain apps more useful by supplying data they may not otherwise be able to access securely. Its decentralized data systems provide information to smart contracts, which are programs that run on a blockchain. CoinMarketCap
2. Cross chain use
Flare is compatible with the Ethereum Virtual Machine, so developers can build apps using tools familiar from Ethereum. Its FAssets system creates representations of assets from other networks, such as FXRP for XRP, so they can be used in Flare applications. FXRP is distinct from XRP on the XRP Ledger. CoinMarketCap
3. FLR token
FLR is Flare’s native token. It is used for payments and transaction fees, and can be staked with validator nodes. Users can wrap FLR into WFLR, which can be delegated to data providers or used to participate in governance. CoinMarketCap
Conclusion
Flare is a smart contract blockchain centered on decentralized data access and bringing assets from other networks into its apps, with FLR supporting network operations. How effectively can its data tools and FAssets enable useful applications across chains?
