Flare

Flare (FLR) is a Layer 1 blockchain compatible with the EVM. It is aimed at developers who build applications that connect with other chains and with data from the web, and it targets data-heavy use cases.

The network includes two data protocols as part of its core. The Flare Time Series Oracle provides decentralized price and data feeds, and the State Connector lets smart contracts read events from other blockchains and external APIs. The two protocols depend on many independent data providers and inherit the economic security of the whole network, which runs on proof of stake.

The FLR token is the network's currency for payments. It also covers transaction fees, which discourage spam, and it can be staked on validator nodes. It can be wrapped into WFLR, an ERC-20 version that can be delegated to data providers or staked for governance. The design also brings assets without native smart contract support, such as XRP, into decentralized finance.