Flare is a data-focused Layer 1 blockchain based on the Ethereum Virtual Machine (EVM). It allows developers to build interoperable applications with blockchains and the Internet. The project aims to provide decentralized access to high-integrity data for applications where data is important, such as DeFi, social networks, and real-world assets (RWA).
What Makes Flare Unique?
Flare builds a decentralized data infrastructure natively into the blockchain, powered by many independent data providers. It allows developers to query, acquire, and process large amounts of data efficiently, securely, and without single, centralized sources.
What is The Flare (FLR) Token Used For?
FLR is the native token used for payments, transaction fees to prevent spam attacks and staking in validator nodes. FLR can also be wrapped into an ERC-20 variant, WFLR. WFLR tokens serve various functions; they can be delegated to FTSO data providers, or staked to participate in governance. These two uses are not mutually exclusive and do not prevent the tokens from being used in other EVM-compatible dApps and smart contracts on Flare.
