Dubai, United Arab Emirates, February 23, 2023, Chainwire
Layer 1 for data, Flare, has just completed a live demo of the new interoperability feature now available in beta on the network. Using two primary interoperability protocols, State Connector and Flare Time Series Oracle (FTSO), an NFT was purchased in confidence, with the transaction taking place on a different chain using a different token. The demo was made on Flare’s canary network, Songbird, with the purchase made using DOGE and XRP tokens.
Flare’s State Connector protocols enable the use of information from other blockchains and the Internet in a secure, scalable, and trustless manner with EVM-based smart contracts on Flare Chains. In this case, it was used to prove that a transaction was confirmed on a non-Flare channel and simultaneously verify that the correct payment reference was included.
Flare Time Series Oracle provides highly decentralized price and data feeds to dapps on Flare, without relying on a centralized provider to on-chain the data. For demonstration, it provides live NFT update price in other channel’s currency.
As Flare is an EVM-based blockchain, anything that can be done on Ethereum and other EVM chains can also be done on Flare. The NFTs minted in the demo are therefore standard ERC721 contracts written in Solidity and deployed on the network. The only changes required were the addition of methods to integrate with the FTSO and State Connector.
Hugo Philion, CEO and Co-Founder of Flare, said, “This demo highlights Flare’s ability to deliver more types of secure, decentralized data on-chain to power new features and potential use cases. for industry. The NFT demo is an example of the web3 utility that Flare can unlock for legacy tokens, allowing them to be used with confidence in network dapps. We’re excited to see what other application engineers can develop, leveraging the capabilities of Flare’s native interoperability protocols.
Demo video: https://www.youtube.com/watch?v=g0qxxm2EZjw
To burst is an EVM-based Layer 1 blockchain that gives developers decentralized access to high-integrity data from other chains and the Internet. This enables new use cases and monetization models, while enabling applications to serve multiple channels through a single deployment.
flare of Status connector The protocols allow information, both from other blockchains and the internet, to be used in a secure, scalable, and trustless manner with smart contracts on Flare.
THE Flare Time Series Oracle provides highly decentralized price and data feeds to dapps on Flare, without relying on centralized vendors.
Develop on Flare with more data than ever before or build with Flare to serve multiple ecosystems.
Website | Twitter | Telegram | Discord