What is flare network?

Flare’s native token, FLR, has multiple uses on the network, including incentivizing adoption and decentralization of the FTSO, securing the network, and participating in the network’s governance. How was Flare Network developed? Flare was founded by Hugo Philion (CEO), Sean Rowan (CTO), and Naïri Usher (Chief Scientist).

What is flame blockchain?

Flare is a layer 1 blockchain that is dedicated to blockchain interoperability. The main protocols that power the Flare Network include the State Connector and the Flare Time Series Oracle (FTSO), both of which support a system that provides accurate information about other chains to the Flare network.

What is the flame network?

The Flare Network is a layer 1, Proof-of-Stake (PoS) blockchain that leverages the Ethereum Virtual Machine (EVM) to support smart contracts and host decentralized applications (dapps). The platform uses two protocols to support its goals of convenient and efficient blockchain interoperability: the State Connector and the Flare Time Series Oracle.

What is a 51% attack on the blockchain?

Theoretically, the blockchain is considered compromised if a hacker gets access to 51% or a more significant part of the network. The various types of consensus protocols solve the 51% attack problem in various ways. Proof of Work is one of the first consensus protocols used in blockchain applications.