Flare Network to keep live stream on YouTube on March 5th – Tradingview News

Flr info

Flare Network is a distributed protocol that contains the Ethereum Virtual Machine (EVM), which enables the execution of Turing-Complete-intelligent contracts. Turing Complete indicates that each arithmetic problem can be addressed in view of an appropriate storage. Therefore, the Flare network can promote an ecosystem of decentralized applications (DAPPS) with the ultimate goal of scaling intelligent contract networks.

Flare Network uses a consensus salgorithm called Avalanche, which has been adjusted in such a way that it works with Federated Byzantine Contrise (FBA), a consensus mechanism that is used by networks such as XRPL and Stellar. The Flare Network consensus clearly does not depend on economic mechanisms such as the proof of the share (POS) to maintain network security. In contrast, many networks, including Ethereum (which are completely transferred to Ethereum 2.0, are based on token-staking validators for network security.

Spark token (FLR) is the native token of the Flare network, which is mainly used as protection against spam attacks by using costs for network transactions. In addition, the token serves as security within the decentralized applications (DAPPS) and contributes to the robustness and safety of different applications in the network. Spark-token also provides data to an on-chain oracle and enables users to participate in the protocol government and to strengthen the democratic and decentralized nature of the network.