Flare Network (FLR) is a Layer-1 blockchain that utilizes the Ethereum Virtual Machine (EVM) and aims to promote interoperability between various networks. The network comprises two open native interoperability protocols: the State Connector and the Flare Time Series Oracle (FTSO). These protocols enable the development of a wide range of off-chain data applications on the network.
The State Connector allows for decentralized consensus on the state of external blockchains, making it possible to capture external blockchain data on the chain. This creates a secure and efficient way to access data from other networks.
On the other hand, the FTSO is a decentralized oracle for time-series data, such as asset prices and data indices. By providing access to reliable off-chain data, the FTSO enables the creation of applications that require accurate and real-time information.
FLR is the native token of the Flare Network and plays a crucial role in the network's operations. It is used for native payments, spam control, governance, and as collateral within applications. With its interoperability and native token, the Flare Network aims to create a robust and efficient ecosystem for decentralized applications (dApps).
