Flare Network (FLR): A Layer -1 for Decentralized Data

Centralized data is increasingly vulnerable to security breaches and confidentiality issues. With the ever-growing amount of data being collected, stored and shared in a centralized manner, organizations risk losing control over their information.Flare is a revolutionary blockchain platform that aims to solve the issue of centralized data by connecting data across chains. Flare powers connectivity within the decentralized economy by providing developers with the tools and the tech stack to build the next generation of interoperable DApps that will allow assets, information and liquidity to flow freely between all chains.

Here's a closer look at Flare Network and its native FLR token.

What is Flare?

Flare is an EVM-based Layer 1 aiming to make blockchain more useful by providing decentralized access to high-integrity data from other chains and the internet. It is an interoperability-focused blockchain system built on a proof of stake (PoS) consensus mechanism. It has two core interoperability protocols – State Connector and the Flare Time Series Oracle.

The State Connector enables Flare to safely and trustlessly come to a consensus over an event that has occurred externally to the network, for example, a blockchain transaction between two parties or the content of an API on the internet. It is designed to integrate seamlessly with external blockchains, allowing developers to build DApps across chains freely.