Question 1

What is Flare Network? (FLR)

Accepted Answer

Flare is a layer 1 network that centers on blockchain interoperability—the ability for different blockchains to communicate with one another. It is designed to bring smart contract capabilities to other blockchain projects that lack them, such as the XRP Ledger.

Flare Network operates on two main protocols: the State Connector and the Flare Time Series Oracle (FTSO). The State Connector enables the use of external blockchain data on the Flare Network, while the FTSO serves as a reliable source of off-chain data for network use. Additionally, Flare runs the Ethereum Virtual Machine (EVM) for its smart contract development, allowing Ethereum developers to build on Flare with ease.

The native token of Flare Network, FLR, plays multiple roles. It incentivizes the adoption and decentralization of the FTSO, secures the network, and facilitates participation in network governance.

Question 2

How was Flare Network Developed?

Accepted Answer

Flare was established by Hugo Philion (CEO), Sean Rowan (Chief Product Officer, former CTO), and Naïri Usher (Chief Scientist). All founders have strong educational backgrounds in fields like machine learning and quantum computing from University College London (UCL).

The team initially introduced the network and its then-named Spark token in their August 2020 whitepaper. The primary intent was to offer smart contract functionality to blockchains that lacked it, particularly Ripple's XRP Ledger. In 2019, Flare received a substantial initial investment from Xpring, Ripple Labs' investment arm. Subsequently, in 2021, they raised $11.3 million from various venture capital firms and individual investors.

In December 2022, an updated whitepaper (Flare v2.0) was published, officially renaming the Spark token to FLR and refining multiple aspects of the project.

Question 3

How does Flare Network Work?

Accepted Answer

Flare Network is a layer 1, Proof-of-Stake (PoS) blockchain that uses the Ethereum Virtual Machine (EVM) to support smart contracts and host decentralized applications (dapps). Its interoperability goals are achieved through two primary protocols: the State Connector and the Flare Time Series Oracle.

The State Connector enables the network to offer blockchain interoperability by reliably recreating the state of a connected blockchain on Flare. It uses a request-commit-reveal (RCR) protocol for information verification and a branching protocol to ensure the decentralized acquisition of data.

The Flare Time Series Oracle (FTSO) addresses the challenge of interacting with off-chain data. It is an assembly of data providers that offer on-chain information. Data providers must stake FLR tokens to participate and may face penalties for malicious actions. Other users can delegate their FLR to trustworthy data providers. Rewards are earned based on data accuracy.

Flare's canary network, Songbird, is a fully functional blockchain designed to develop new features for Flare. It was launched in 2021 with its governance system and native token, SGB.

The FLR token is used for incentivizing FTSO use, acting as collateral in third-party dapps, participating in governance, securing the network through staking, and paying transaction fees. Out of the total 100 billion FLR, 58% is allocated to the community, 19% to the development team, advisors, and backers, and 22.5% reserved for companies/funds associated with Flare.

In essence, Flare is a layer 1 blockchain committed to blockchain interoperability. It uses its main protocols—the State Connector and the FTSO—to provide accurate cross-chain information. The FLR token secures the network, incentivizes FTSO use, and facilitates network governance.

#	インストゥルメント	取引所	ベンチマークスコア	価格	24時間変動	24時間出来高	24時間取引	24時間始値	24時間高値
1	FLR-USD FLR-USD	coinbase	AA	0.006640USD	0.97%	72,672,951.00FLR	2,925	0.006576USD	0.006697USD
2	FLR-USD FLRUSD	kraken	AA	0.006640USD	0.91%	45,727,537.18FLR	1,289	0.006580USD	0.006690USD
3	FLR-USDT FLRUSDT	bybit	A	0.006640USDT	0.96%	43,923,034.50FLR	4,144	0.006577USDT	0.006700USDT
4	FLR-USDT FLR-USDT	okex	A	0.006641USDT	1.00%	41,523,190.18FLR	2,523	0.006575USDT	0.006697USDT
5	FLR-USDT FLR_USDT	gateio	A	0.006639USDT	1.02%	22,606,704.40FLR	2,862	0.006572USDT	0.006700USDT
6	FLR-USDT FLR-USDT	kucoin	BB	0.006650USDT	1.37%	5,291,703.83FLR	587	0.006560USDT	0.006700USDT
7	FLR-USD FLR_USD	cryptodotcom	AA	0.006645USD	1.26%	3,985,220.00FLR	723	0.006562USD	0.006696USD
8	FLR-EUR FLREUR	kraken	AA	0.005770EUR	0.87%	3,317,598.25FLR	152	0.005720EUR	0.005820EUR
9	FLR-EUR flreur	bitstamp	AA	0.005771EUR	2.94%	510,500.00FLR	16	0.005606EUR	0.005771EUR
10	FLR-USDC FLR-USDC	kucoin	BB	0.006620USDC	0.76%	479,176.36FLR	98	0.006570USDC	0.006690USDC
11	FLR-USD flrusd	bitstamp	AA	0.006560USD	0.58%	237,891.00FLR	9	0.006522USD	0.006683USD
12	FLR-USDC FLR-USDC	okex	A	0.006625USDC	0.90%	140,937.13FLR	43	0.006566USDC	0.006700USDC
13	FLR-EUR FLR-EUR	okex	A	0.005784EUR	1.47%	85,571.79FLR	49	0.005700EUR	0.005831EUR
14	FLR-USD FLR-USD	okex	A	0.006613USD	2.45%	72,455.26FLR	7	0.006455USD	0.006660USD
15	FLR-USD FLRUSD	cexio	BB	0.006597USD	2.96%	19,924.80FLR	2	0.006407USD	0.006622USD
16	FLR-EUR FLREUR	cexio	BB	0.005760EUR	4.12%	7,110.40FLR	2	0.005532EUR	0.005760EUR
17	FLR-USDT FLRUSDT	cexio	BB	0.006559USDT	2.27%	3,059.19FLR	2	0.006413USDT	0.006688USDT
18	FLR-USDT flr_usdt	xtpub	-	0.006640USDT	0.91%	56,068,838.00FLR	1,476	0.006580USDT	0.006700USDT
19	FLR-TRY FLRTRY	btcturk	E	0.3212TRY	0.78%	15,885,478.33FLR	811	0.3187TRY	0.3350TRY
20	FLR-JPY flr_jpy	bitbank	C	1.04JPY	1.46%	10,117,593.27FLR	488	1.03JPY	1.05JPY
21	FLR-USDT FLRUSDT	mexc	C	0.006642USDT	1.00%	9,765,978.28FLR	4,159	0.006576USDT	0.006697USDT
22	FLR-USDT FLRUSDT	bitrue	D	0.006643USDT	1.00%	9,407,106.78FLR	3,803	0.006577USDT	0.006740USDT
23	FLR-USDT flr_usdt	lbank	C	0.006651USDT	1.29%	8,513,971.94FLR	3,684	0.006566USDT	0.006733USDT
24	FLR-USDT FLR-USDT	bingx	D	0.006641USDT	0.99%	7,234,300.61FLR	6,229	0.006576USDT	0.006698USDT
25	FLR-USDT flr_usdt	digifinex	D	0.006646USDT	1.10%	6,982,240.01FLR	831	0.006574USDT	0.006690USDT
26	FLR-KRW FLR_KRW	bithumbkorea	-	9.09KRW	0.40%	6,074,363.78FLR	775	9.05KRW	9.20KRW
27	FLR-USDT FLR_USDT	bydfi	-	0.006640USDT	0.91%	4,799,724.95FLR	3,196	0.006580USDT	0.006690USDT
28	FLR-EUR FLREUR	bit2me	B	0.005770EUR	0.87%	3,317,598.25FLR	152	0.005720EUR	0.005820EUR
29	FLR-EUR FLR-EUR	bitvavo	B	0.005775EUR	1.18%	2,687,197.39FLR	101	0.005708EUR	0.005823EUR
30	FLR-USDT FLRUSDT	btcturk	E	0.006640USDT	3.59%	789,278.04FLR	25	0.006410USDT	0.006730USDT
31	FLR-USDT FLR_USDT	bitmart	B	0.006308USDT	0.00%	0FLR	0	0.006308USDT	0.006308USDT
32	FLR-AUD FLR-AUD	btcmarkets	C	0.009100AUD	0.00%	584,966.90FLR	5	0.009100AUD	0.009500AUD
33	FLR-USDT flrusdt	huobipro	C	0.006610USDT	3.28%	389,724.94FLR	17	0.006400USDT	0.006692USDT
34	FLR-USDC FLRUSDC	hyperliquid	-	0.006602USDC	0.76%	366,224.79FLR	108	0.006552USDC	0.006692USDC
35	FLR-IDR flridr	indodax	E	117.00IDR	3.54%	156,887.00FLR	58	113.00IDR	118.00IDR
36	FLR-USDT FLRUSDT	coinex	C	0.006643USDT	1.42%	72,729.86FLR	1,411	0.006550USDT	0.006684USDT
37	FLR-KRW flr_krw	korbit	C	9.10KRW	1.11%	59,842.78FLR	38	9.00KRW	10.00KRW
38	FLR-USDT FLRUSDT	hitbtc	E	0.006681USDT	0.00%	0FLR	0	0.006681USDT	0.006681USDT
39	FLR-BTC FLRBTC	coinex	C	0.0₇8170BTC	0.58%	32,986.31FLR	1,385	0.0₇8123BTC	0.0₇8199BTC
40	FLR-XRP FLRXRP	bitrue	D	0.004500XRP	-6.25%	28,020.37FLR	6	0.004800XRP	0.004800XRP
41	FLR-BRL FLR-BRL	mercadobtc	C	0.03499BRL	9.37%	4,878.94FLR	14	0.03200BRL	0.03549BRL
42	FLR-USDT FLR_USDT	poloniex	C	0.006210USDT	2.48%	1,350.11FLR	1	0.006060USDT	0.006210USDT
43	FLR-PLN FLR-PLN	zonda	-	0.01400PLN	0.00%	0FLR	0	0.01400PLN	0.01400PLN
44	FLR-USDC FLR-USDC	zonda	-	0.005290USDC	0.00%	0FLR	0	0.005290USDC	0.005290USDC
45	FLR-BRL flrbrl	foxbit	-	0.03426BRL	3.68%	23.66FLR	1	0.03305BRL	0.03426BRL